The Challenges: As a standard regulatory requirement, the bank needed to send frequent reports to the Financial Services Authority and to Jersey Financial Services Commission within an allocated timeframe. The process of liquidity monitoring and reporting was managed within an internal MS Access database and required half a day of employee time to complete, on a daily basis. Reporting to regulatory bodies was conducted when necessary by email.While the system provided adequate results, it was a stand-alone solution and so did not reconcile with other systems.
Our Solution: C5 designed and developed a Microsoft SQL Server based solution, to automate all of the bank’s Offshore liquidity monitoring and reporting requirements.The project was delivered in two phases, the first phase to address the issue in relation to London’s regulatory environment and the second phase to apply to Jersey’s. Each phase was completed successfully, well within the allocated timeframe and budget and provided internally consistent reporting for the first time…
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