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To further reinforce the prudential supervision in the banking sector of the EU, the EBA has recently published the EBA Roadmap on strengthening the prudential framework. This is the second article in a series of articles that cover various aspects of the recent EBA banking package publication.

To further reinforce the prudential supervision in the banking sector of the EU, the EBA has recently published the EBA Roadmap on strengthening the prudential framework. This is the first article in a series of articles that cover various aspects of the recent EBA banking package publication.

The financial industry has not escaped the buzz around recent innovations that will revolutionize the way it operates. In recent years, Gen AI has emerged as a transformative force. This article sheds a light on the development, risks, use cases, and the future of Gen AI in finance and risk.

Regulations and deadlines, a tale as old as time, and one you know all too well. They start fairly vague, with many elements still up for consultation. Except for the deadline, that one is usually fixed rather quickly. Almost always quite some time in the future, but usually very tight.

ESG Reporting is the disclosure of environmental, social, and governance data, and an ESG report is designed to provide transparency over the organization’s environmental, social, and governance impact across a multitude of stakeholders, employees, and customers.

Financial institutions can collect ESG data themselves. They are already collecting a bunch of client and transaction data through KYC and transaction screening processes. Integrating the collection of the new ESG data in the already existing procedures can be effective.

Between now and 2050, the EU will need to drastically reduce its greenhouse gas emissions and find ways of compensating for the remaining unavoidable emissions, ultimately reaching a net-zero emissions balance. How? The EU Green Deal, a plan consisting of several strategies to reach this goal.

In the world of Robert Jordan’s The wheel of time, there is a white tower. It is the home of the Aes Sedai, a group of powerful women who protect the world from breaking by governing it. They do so by using a holistic view from high up in the tower, while impacting the everyday lives of people.

By measuring and reporting on the efficiency of resource use, regulators are forcing companies to think about their role in our society. Viktorija Karaliute explains the challenges financial service industry participants are facing when preparing to report on their sustainability figures.

The review from the European Commission has resulted in two proposals of the European Commission to be discussed by the European Parliament and the Council and finally to be converted into requirements monitored by the supervisors of the respective member states.

Why fire? Fire is one of the most important elements in human history. Without fire, mankind would have never transformed from a migratory to a sedentary existence. We would have invented neither cooking, iron works, transportation nor the burning man festival.

The burden and time consumption that goes into regulatory reporting is probably recognisable for every financial institution. With the advent of the banking union and Basel III, the reporting has taken a flight. The challenges are plenty with reporting taking place to a plethora of institutions.

Solvency 2 and IFRS17 have posed an increasing demand on implementing a more robust and effective data management platform. Especially life insurance companies have a lot of legacy systems providing inputs in the finance and risk reporting processes.

Since the outbreak of COVID-19 and its global spread, the European Banking Authority (‘EBA’), along with national competent authorities, and the European Central Bank have taken measures to ease the granting of moratoria to its customers.

The cultural diversity leads to different languages, systems, data and processes. External forces and internal drivers, such as reduced costs and better resource allocation, demanded strongly for some of the differences and distinctions to be resolved.

Consultants, we’re a different breed. Or so we are told. But what exactly is a consultant and how did this role evolve? There is no other term which is used in so many different circumstances to indicate completely different responsibilities and activities.

It’s for sure that both functions are subject to a fundamental change to meet the various expectations, at least on average. Expectations from today and expectations from the future. From the market, from colleagues, and, last but not least, from talented employees.