How SQL Power can help remove all barriers to effective financial supervision
Effective Supervision: The Knowledge to Act
Financial Regulators face significant barriers that compromise their efficiency and limit their effectiveness in responding to jurisdictional challenges and accelerating financial service innovations.
In a world of financial risk management that is compressing the cycle time between event and response, traditional approaches create insurmountable barriers – Limited budgets, limited resources and traditional regulatory tools’ inefficiencies is impeding regulators abilities to respond to local and global regulatory challenges.
The SQL Power Suite provides the regulatory framework to help remove these barriers, providing financial regulators with significant resource efficiencies, early warning visibility and the just-in-time technology to help evolve the platform along with the evolving risks and business challenges.
Financial Regulators are public institutions, and as such, budget constraints are a consistent financial barrier. Financial constraint limits the flexibility of regulators to leverage allocate more time and resources or to adopt new regulatory technology to respond to changes in the financial regulatory landscape and to implement new initiatives in response to increasing financial risks.
Regulatory staff that understand and can facilitate risk-based supervision are scarce. This scarcity creates a significant barrier in itself; however, the problem is compounded by the nature of many supervisor’s regulatory technology. These traditional systems force these scarce resources to invest too much time in manual steps gathering the information, Interpret events and determine the right course of action.
At SQL Power we divide this into two categories of work:
• Low Value Work is the labour of gathering the necessary data to be able to do High Value Work.
• High Value Work in regulators is the mental work of data analysis, decision making, and taking actions to address issues.
SQL Power’s focus is to automate the manual steps in the financial reporting framework thus reducing or eliminating the Low Value Work; Freeing scarce regulatory resources to focus exclusively on the High Value Work of investigation and decision making. By automating data collection and analysis we overcome the barrier of those scarce human resources by enabling them to dedicate more of their time to making decisions and taking effective supervisory actions.
For all regulators using traditional or legacy supervisory systems (or worse combinations of paper and Excel documents), the technology is a constraint to achieving their goals of effective and proactive supervision. Global and jurisdictional risk management changes, market condition changes, policy and legislature changes as well as the ongoing need to gather more and more data at more frequent intervals have rendered legacy supervisory systems incapable of keeping up with the evolving regulatory requirements.
SQL Power’s regulatory technology includes a design innovation framework that virtually eliminates the need for software customizations in response to evolving regulatory, data collection, consolidation and analysis needs. This significantly reduces the development cycle time for addressing evolving requirements of a financial supervisory entity while simultaneously eliminating the risk associated with software changes and upgrades.
Rather than technology being a barrier to change, the SQL Power Suite is a single common platform that enables near real-time change in response to future financial service innovations and/or market misconduct.
Why Choose the SQL Power Suite?
The SQL Power Suite is the most robust and compelling Supervisory Platform in the World that easily evolves with your complex and evolving financial regulatory needs.
Business-User-Driven Taxonomy Design
• Rules-based, metadata-driven design facility gives full control to regulators and policy makers at the business user level, and simplifies the ongoing management of the system
• Simple and easy-to-use Taxonomy Design facility allows business users to quickly change Taxonomies (data collection rules), On-line forms and Workflows in order to respond to changing markets and monitoring requirements
Facilitated Web-based Filing
• A Zero-Footprint (thin client) forms-based solution removes the technology and financial burden from the filers and allows them to report their financials over the web without any knowledge of the regulator’s back-end system
• Submission forms are automatically rendered from the latest taxonomy and allows filers to validate their filing against the latest taxonomy prior to submission
• Pre-validated filings reduce regulators processing and re-submission costs
• Fully-integrated analytics platform provides regulators with operational analytics allowing regulators and investors alike to monitor and assess organizational performance in near real time (within 15 secs of submission).
• Standardized electronic “content” enables direct system-to-system information sharing between filing entities, Central Banks and other regulatory agencies, and minimizes error rates as information moves from regulated sources through to the regulators analytical software via straight through processing (STP)
Lowest Total Cost of Ownership (TCO)
SQL Power’s regulatory platform also offers the lowest Total Cost of Ownership (TCO) on the market:
• Being business-rules driven and having the business users in the driver’s seat eliminates ongoing IT and consulting costs associated with evolving, maintaining and supporting the system;
• All Information collected is pre-validated against the user-defined business rules prior to submission ensuring that all collected data is complete, consistent and accurate – eliminating the need for post-submission rejection or re-submission.
• Our pre-built Analytics platform comes bundled with MicroStrategy (the world’s leading BI tool), eliminating the need to buy expensive software for the Business Intelligence platform;
• Turnkey Support Services – Provides SQL Power customers with a 100% warranty on all implementation deliverables; providing our regulators with complete peace of mind and 100% cost certainty every step of the way.
• Finally, since the system is fully configurable and virtually turn-key (with no need for any code changes), SQL Power provides our customers with the most stable (and maintenance-free) production environment.
All of the above differentiators make the SQL Power suite the most comprehensive, dynamic, and compelling financial regulatory solution on the market – delivering the ultimate in regulator flexibility, self-sufficiency and transparency, increasing the likelihood of timely successful intervention, and providing all interested parties with ultimate confidence in the regulated market.