Financial Reporting and Prudential Requirements Services
Our experienced team of dedicated regulatory professionals, including qualified accountants, risk management experts, lawyers and former regulators provide prudential reporting and consulting services to a wide range of firms. We are able to help clients navigate the complexities of the regulatory requirements as they relate to prudential matters.
Whether you are an established firm looking for guidance, or a start-up needing advice, we are here to help.
- We take the lead in putting policies and procedures in place to satisfy the regulatory requirements, ensuring your firm’s compliance with FCA rules
- We will keep you informed of regulatory changes arising from Europe or the FCA that may impact your prudential obligations,
- Our team will advise on all aspects of capital planning and the associated systems and controls that should be in place, making sure that you meet the strict capital adequacy requirements while also having sufficient capital to continue to grow and expand your business, and
- We take the stress out of your regular FCA filings, drafting the required documentation and assisting you with submitting your GABRIEL returns. We can also guide you on the preparation of complex documents such as your ICAAP (and FSA019), ILAAP, Recovery Plan, Wind-down and Pillar III Disclosures.
With decades of combined experience, a commercial focus in everything we do and a specialised understanding of the FCA rules, we would be pleased to discuss your requirements and how we can help.
To complement the above we also offer specialist COREP/FINREP reporting.
Our team offers the following Financial Reporting and Prudential Requirements services:
COREP/FINREP Reporting Service
Under CRD IV, IFPRU firms must submit their COREP returns to the FCA in XBRL format in line with European Regulations. Responding to demand from our clients, Complyport recognises that XBRL production can be a challenge and that many firms are unprepared for this task and, as a consequence, we have developed our own comprehensive COREP Reporting Service.
We offer a full process service for a per submission or annual fee that covers:
- Advice on FINREP data sourcing,
- Customised Excel templates for data collection,
- Advice on data items and Excel template completion,
- Review of data to be submitted,
- Full data validation against FCA Conduct of Business rules,
- In-house creation of XML/XBRL return files from Excel data templates, and
- Instruction and help on final submission procedures.
The service builds on Complyport’s Financial Reporting expertise and experience in helping firms with their GABRIEL returns and aims to combine a dedicated software solution with the knowledge and guidance of our consultants.
Complyport’s COREP Reporting Service is delivered via Portal. To learn more about Portal click here.
Prudential Advice and Support
Our team currently assists clients with current and future capital requirements and business planning in accordance with the firm’s business model/operations to ensure the continued prudential health of a financial institution. Our support focuses on the following areas:
- Continuous capital adequacy monitoring;
- Examination of a firm’s capital adequacy and financial results;
- Assistance with the regulatory business plan, forward looking financial projections and capital planning;
- Assistance with forward looking stress testing scenarios and evaluation of the impact on profitability and capital adequacy;
- Pro-active assessments of the risk-return impact of investment recommendations;
- Evaluation of risk areas and establishing tolerance levels;
- Design and/or review of the firm’s Risk Management Framework;
- Preparation and/or review of the firm’s policies and procedures for risk identification, measurement, management, monitoring and mitigation; and
- Gap Analysis of the IFR/IFD impact on the firm’s capital requirements.
Pillar III Disclosures
Assistance with the drafting of the Pillar III Disclosures and Policy in accordance with the provisions of part eight of the CRR. Complyport can provide solutions with respect to the preparation and review of a firm’s Pillar III disclosure, removing the burden from internal teams.
ICAAP/ICARA Reporting Services
Consulting on establishing and/or adapting processes and governance arrangements as well as advice on the drafting of ICAAP/ICARA Reports. Our services can include:
- Preparation of the ICAAP/ICARA report;
- Assistance with the implementation of the ICAAP/ICARA report within the firm’s daily business operations;
- Design and implementation of the stress test scenarios; and
- Assessment of the risks that a financial institution may be exposed to and calculation of the capital allocations for each Pillar I and Pillar II risk.
OTHER REGULATORY REPORTING
Assistance with the preparation and submission of other prudential related reporting obligations (ILAAP, Recovery and Resolution Plans etc). Our team of experts provide the following services:
- Preparation of ILAAP Report (“Internal Liquidity Adequacy Assessment Process”), and
- Preparation of Recovery and Resolution Plan (”RRP”).