25 Jun 2013 07:00
Press Release
25 June 2013
Lombard Risk Management plc
("Lombard Risk" or "The Company")
Banking unit of large UK mutual business group selectsLombard Risk REPORTER as strategic regulatory reporting solution
Lombard Risk Management plc (Lombard Risk)(LSE:LRM), a leading provider of integrated regulatory compliance and collateral management solutions for the financial services industry, is pleased to announce that the banking unit of a large UK mutual business group ("the Group") has selected Lombard Risk REPORTER as its strategic regulatory reporting solution.
Following a rigorous selection process, the mutual business group chose Lombard Risk REPORTER for Bank of England Prudential Regulation Authority (PRA) and European Banking Authority's (EBA) Common Reporting (COREP) regulatory calculation, reporting and electronic transmission/delivery.
REPORTER will greatly simplify the Group's reporting and will enable it to meet regulatory demands now and as they develop in the future.
Lombard Risk has one of the largest groups of UK, full-time regulatory specialists in the field and provides ongoing regulatory support to ensure reports are maintained in line with regulatory changes, which are ongoing. Financial institutions face EBA Common Reporting (COREP), including Financial Reporting (FINREP), as well as the new statistical reporting requirements from the Bank of England Prudential Regulation Authority (PRA) modifications, new returns and online submission.
The Group will benefit from Lombard Risk's regulatory compliance expertise which, together with REPORTER ETL (extract/transform/load), enables Lombard Risk to interface with data source systems rapidly and ensure most effective data collection, validation and re-use throughout the reporting process, which includes regulatory, ad-hoc and management/business information reporting.
John Wisbey, Chief Executive Officer, Lombard Risk says:
"We faced the usual competition during the selection process so we are very proud to be the chosen provider. Our investment in developing a fully integrated reporting solution that meets the challenging regulatory environment now and in the future has clearly put us in a strong position to service the Group."
Visit the MEDIA CENTREon the Lombard Risk website and/or contact:
Lombard Risk Management plc Tel: 020 7593 6700
John Wisbey, CEO - john.wisbey@lombardrisk.com
Paul Tuson, CFO - paul.tuson@lombardrisk.com
Rebecca Bond - rebecca.bond@lombardrisk.com Tel: 020 7593 6796
Charles Stanley Securities Tel: 020 7149 6000
Nominated Adviser and Broker
Russell Cook
Carl Holmes
Newgate Threadneedle Tel: 020 7653 9850
Graham Herring
Robyn McConnachie
About REPORTER - for global regulatory reporting.
Fully scalable regulatory compliance solution for branch or head office, with global coverage. Fully supports key supervisory computations, reporting and electronic delivery, and integrates with LISA for stress testing and ReporterMIS for ad-hoc and management reporting. Straightforward and streamlined integration to multiple source systems, built-in reconciliation, and trends and variance reporting.
About Lombard Risk - www.lombardrisk.com
Lombard Risk is a leading provider of integrated collateral management and liquidity, regulatory, transaction and MIS reporting solutions - enabling firms in the financial services industry to significantly improve their approach to managing the risk in their businesses.
Founded in 1989 and headquartered in London, Lombard Risk has offices in New York and New Jersey in the US; Hong Kong, Shanghai, Singapore and Tokyo in Asia Pacific, and service centres in Atlanta, Cape Town, Luxembourg and Miami.
Our clients include banking businesses - over 30 of the world's "Top 50" financial institutions - almost half of the banks operating in the UK, as well as investment firms, asset managers, hedge funds, fund administrators, insurance firms and large corporations worldwide.