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CHALLENGE
- Existing PDF abased forms were difficult to maintain and creating new applications was time consuming
- Compliance Processes lacked transparency, consistency and accountability to appropriately support A-IRB and OFSI requirements
- Compliance reporting capabilities did not include the breadth of reporting that is required by OSFI and reporting was open to interpretation and requierd significant manual data manipulation
SOLUTION
- An architecture based on AEM Adaptive Forms and back-end data integration for reglatory compliance processes
- Common workflow elements to allow for simplified processes automation
- Ongoing support and services to assist with forms maintenance and implementation of best practices
RESULT
- A framework that allows for the implementation of required regulatory processes with reduced effort
- Initial processes include Foreign Account Tax Compliance Act (FATCA) and Internal Reporting on Out of Order (non-compliant) transactions to comply with A-IRB and OSFI requirements
- These implementations will ensure that the bank is compliant while reducing the effort required to maintain compliance
