It’s been a big week for us and our clients with a new regulatory reporting regime – SFTR – going live. As our Senior Regulatory Reporting Specialist for SFTR Jonathan Lee said earlier this week – while it’s an end for many project teams, for us here at Kaizen it’s only the beginning with the focus turning to the very reason we exist – improving the quality of the data reported to the regulator.
But first – we wanted to say a huge thank you to the core members of our SFTR Reporting team who’ve been working tirelessly for months to get our ReportShield™ quality assurance services ready to test our clients’ reported SFTR data for accuracy and timeliness.
We asked them what they were most proud of about our SFTR assurance services.
Tony Weedon – Regulatory Reporting Specialist
“Having been with Kaizen for just over six months, I am most proud of the unique testing methodology that underpins our services and the fact that we have not shied away from the significant challenges that SFTR poses compared to other regimes. In fact we have embraced that challenge to not only provide a unique service but be the best in market. The 100% commitment of everyone to get it right, to give the client the best experience possible to the highest standard, makes me feel proud to be part of Kaizen.”
Sam Jackson – Data Analyst
“SFTR is a highly complex regulation, quite distinct from EMIR and MiFIR. It’s been a great privilege to build testing for a new regime from the ground up. I’m also extremely proud that, as part of our ReportShield™ Accuracy Testing, we include an additional value-add that shows the reporting fields clients should focus their attention on most, to improve their reporting accuracy.”
Jiaqi Song – Data Analyst and Developer
“Our services combine our regulatory specialists’ extensive expertise with advanced technology, enabling clients to identify potential issues in their reporting. Developing SFTR testing has been challenging because it’s a new regulation and many tests can’t be built in the same way as those traditional jurisdictions such as EMIR or MiFIR. SFTR also requires additional reference data which does not exist in existing databases which has also been a challenge.”
Jonathan Lee – Senior Regulatory Reporting Specialist
“SFTR is not rocket science but the level of detail (with up to 155 fields across four reporting tables and 10 action types) is unprecedented. Our ReportShield™ Accuracy Testing is uniquely comprehensive and powerful in helping firms achieve compliance with SFTR reporting obligations. I believe no other firm can offer a service so focused on reporting accuracy and quality.”