Initiatives to improve transaction reporting regimes have drawn considerable attention of late. At the upcoming PostTrade 360° conference, Alexis Wiazmitinoff of S&P Global Market Intelligence, Cappitech will join colleague Andrew Shanaghy to discuss operationalising data quality for transaction reporting in the session “Transaction Reporting: data quality at the core” on 3 September.
Data quality should no longer be viewed as a reporting function but as a core operational capability. As regulatory reporting becomes increasingly standardised and data-centric, firms need to move beyond correcting errors after the fact and instead embed data quality throughout the trade lifecycle.
“That means reviewing data models, implementing technology-backed pre- and post-reporting controls and leveraging explainable AI to identify issues before they become regulatory problems,” explains Alexis Wiazmitinoff, S&P Cappitech’s EMEA and North American consulting leader. “Firms that operationalise data quality will be better positioned to meet future regulatory change while improving operational efficiency.”
The European Securities Markets Authority’s (ESMA) initiative to simplify financial transaction reporting is a significant catalyst. The push towards greater harmonisation across reporting regimes gives firms an opportunity to rationalise their reporting architecture, rather than continuing to layer new requirements onto legacy infrastructure.
Wiazmitinoff notes that organisations modernising their data models and control frameworks now will be better placed to adapt to future regulatory change — more quickly, at lower cost, and without compromising data quality.
“At the same time, regulators are placing greater emphasis on measurable data quality, making robust governance and automated controls increasingly important,” he adds.
The session will be particularly relevant to regulatory reporting, operations, data, technology and compliance leaders across both buy-side and sell-side firms, as well as to organisations embarking on reporting transformation programmes or evaluating new off-the-shelf or in-house reporting technologies.
The key takeaway, says Wiazmitinoff, is that regulatory reporting should no longer be approached as a compliance exercise alone. “Firms that invest in resilient data models, automated control frameworks and responsible AI will not only improve reporting quality but also create a scalable reporting operating model that reduces operational risk, lowers the cost of regulatory change and better supports future business growth,” he says.
