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Reporting alignment in the new regulatory environment

Author

Listed:
  • Joseph, Bryan
  • Barfield, Richard
  • Hansen, Frank Lyhne

Abstract

In many banks and insurers, risk management, capital management and finance often exist as functionally-separate entities, with distinct tools, languages and reporting lines. This status quo is a by-product of differing functional objectives and the divergent reporting and regulatory requirements that institutions face. Regulatory requirements and reporting, however, are converging around a model that emphasises economic reality and is closer than ever before to the internal metrics many companies use to manage themselves. This evolution has some way to run, but it should be welcomed. This paper outlines the drivers and agents of change to the way businesses report, discusses the benefits that institutions can obtain from the changes, the practical steps they can take for implementation and also highlights some of the likely challenges.

Suggested Citation

  • Joseph, Bryan & Barfield, Richard & Hansen, Frank Lyhne, 2008. "Reporting alignment in the new regulatory environment," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 2(1), pages 57-68, October.
    • Handle: RePEc:aza:rmfi00:y:2008:v:2:i:1:p:57-68
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    More about this item

    Keywords

    reporting; Solvency II; risk management; ERM; management information; embedding; risk appetite;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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