We are delighted to invite you to attend our 2-hours business breakfast to discuss the topic of “Counting and Cutting the Cost of Compliance” with regard to the World Class Austrian regulatory reporting model, Austrian Reporting Services (or short “AuRep”).
The Austrian national bank (OeNB) and the financial institutions in Austria have joined forces and use new technologies to create a new Regulatory Value Chain. The AuRep GmbH is co-owned by eight of the largest Austrian banking groups, representing 90% of the Austrian bank market and 800 banks. It runs a common software platform based on BearingPoint’s Abacus which works as a central interface between the banks and the OeNB supporting national and international supervisory and statistical reporting.
The main drivers for the project were to lighten the compliance burden and to reduce costs and complexity of reporting processes in Austria. Nearly 600 Austrian financial institutions are currently using the platform in Austria which has enabled streamlined communications and aligned processes with the regulatory authority. The AuRep project also equips the participating financial institutions with a flexible and configurable solution to easily adopt new tenants and regulations.
The innovative solution increases the efficiency of supervisory processes, while reducing risk and cost for both, financial institutions and the regulator. It’s a milestone in the terms of innovation and reshaping the way of reporting which potentially could be replicated in other markets.
Join us in this opportunity to discuss the future of regulatory compliance as we continue to push the boundary on innovation and reshape regulatory reporting.
This interactive discussion will look at key issues including:
– The importance of selecting the right operational structure for compliance.
– The impact of the rise of reporting utilities, driven by the relentless demand on compliance teams to cut costs.
– The extent to which complexity is a major driver of those costs, and the benefits associated with adopting uniform, centralised processes.
8:30 AM: Registration and Breakfast
9:00 AM: Welcome Remarks – Her Excellency Mrs. Karin Fichtinger-Grohe, Ambassador of Austria to Singapore
9:10 AM: Roundtable Discussion
– Dr. Johannes Turner, Director Statistics Department, Oesterreichische Nationalbank (OeNB)
– Representative of Monetary Authority of Singapore (TBC)
– Representative of a Bank in Singapore (TBC)
– Dr. Maciej Piechocki, BearingPoint RegTech Management Board
10:20 AM: Closing Remarks
10:30 AM: End of Meeting
Dr. Maciej Piechocki
BearingPoint RegTech Management Board
Dr. Maciej Piechocki is RegTech Management Board Member at BearingPoint. For the last 10 years, he has been specializing in the areas of digitalization, regulation and Big Data especially in the financial services sector. In his role, Maciej is responsible to deliver services and solutions to regulatory clients such as banks, insurance companies, central banks and supervisory authorities in the areas of regulatory reporting, regulatory management and regulatory analytics. Maciej deals with regulations such as Basel 3, Solvency 2, IFRSs, MiFID but also implements standards such as XBRL or SDMX.
During his career, Maciej has been working with a number of regulators worldwide such as Deutsche Bundesbank, the European Banking Authority, the European Central Bank, the Polish Central Bank, the SEC in the US, Japan’s FSA, the Chinese Ministry of Finance. He was also working with a number of large banks, insurers and listed companies. He has been working in consulting, software development, accounting standard setting and in academia.
Dr. Johannes Turner
Director Statistics Departement Oesterreichische Nationalbank (OeNB)
Johannes Turner is Director Statistics Department of the Oesterreichische Nationalbank (OeNB), which is in charge of compiling and analyzing monetary, interest rate, supervisory and external statistics and maintaining the Austrian Central Credit Register. He is a member of the Statistics Committee of the ESCB, and a representative in the Committee on Monetary, Financial and Balance of Payments Statistics in Luxembourg (CMFB). Since 2013 Johannes Turner has been representative in the ESF (European Statistical Forum) and since 2016 he has been Vice President of the European Committee of the Central Balance-Sheet Data Offices (ECCBSO). He is an Advisory Board Member of Statistics Austria (NSI) and a member of the ERP (European Recovery Programme) Audit Committee. In 2014/2015 he has been chairing the ECB taskforce for a harmonised reporting framework for banks in Europe.
He was promoted to his current position in June 2010 after having worked on banking supervision at the OeNB for 18 years, ultimately as Head of the Banking Analysis Division from 2008. Johannes Turner holds a Master’s degree and a Ph.D. in business administration from the University of Vienna.