Leveraging compliance: Standardization and simplification of risk adjusted performance reporting*

August 2007
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Corporate performance management: Leveraging compliance: Standardization and simplification of risk adjusted performance reporting*

At a glance

These are tumultuous times for Finance leaders. Investors, board members, senior management, rating agencies, regulators and other stakeholders continue to seek ways to better evaluate and execute on financial services organization’s activities, performance, risks and strategies. They are looking for more timely, pertinent, and readily accessible financial, market and business information. Meeting these information expectations in increasingly shorter timeframes puts a premium on the effectiveness of the Finance Function and its dedicated resources.

These are tumultuous times for Finance leaders. Investors, board members, senior management, rating agencies, regulators and other stakeholders continue to seek ways to better evaluate and execute on financial services organization’s activities, performance, risks and strategies. They are looking for more timely, pertinent, and readily accessible financial, market and business information. Meeting these information expectations in increasingly shorter timeframes puts a premium on the effectiveness of the Finance Function and its dedicated resources.

Finance has had to react to rapid commercial and regulatory change and the burdens have been significant in terms of long hours, high recurring reporting production requirements with limited time for analysis and substantial penalties for mis-reporting. It is in this climate that Finance leaders and some stakeholders are asking can Finance be more than merely the stakeholders’ scorekeeper?

In fact, Finance leaders are well positioned to help their organizations get the most from their financial and compliance data—to standardize and simplify the myriad of data points for meaningful integrated snapshots and forecasts. Finance leaders need to leverage the considerable investment and architecture of the Sarbox 302 and 404 processes and the developments in risk and regulatory reporting and compliance initiatives – such as arising from Basel 2, Solvency 2 and the Patriot Act.