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FinTalk by VERMEG (VERMEG)

Explore every episode of FinTalk by VERMEG

Dive into the complete episode list for FinTalk by VERMEG. Each episode is cataloged with detailed descriptions, making it easy to find and explore specific topics. Keep track of all episodes from your favorite podcast and never miss a moment of insightful content.

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Pub. DateTitleDuration
15 Feb 2022Win-Win: Investment In & Focus On Regulatory Reporting with VERMEG’s James Phillips #100:31:23

Welcome to FinTalk, the podcast at the forefront of FinTech & RegTech’s pressing topics, brought to you by VERMEG.

Kicking off the series with a focus on the regulatory sector, our host Jawad Akhtar is pleased to be joined by an expert with over 2 decades of experience in the industry - VERMEG’s own James Phillips.

James & Jawad take a look at the regulatory challenges in the coming year, particularly the transition from OSCA to BEEDS, issues raised in the latest Dear CEO letter, and overhauling longstanding, outdated processes around handling data.

This episode of The VERMEG podcast covers:

  • How regulatory reporting needs a similar level of scrutiny to that of financial reporting
  • Resolving data issues through health checks in preparation for regulators’ requirements
  • Using October’s ‘Dear CEO’ letter to focus efforts on key industry issues
  • Key areas we can expect to hear more on throughout this podcast series, particularly around ESG, hybrid workflows and cloud technologies

VERMEG:
https://www.vermeg.com/
https://www.linkedin.com/company/vermeg/

Jawad Akhtar:
https://www.linkedin.com/in/jawad-akhtar-313562b/

James Phillips:
https://www.linkedin.com/in/jamesphillips2/

The latest ‘Dear CEO’ letter:
https://www.vermeg.com/blog/the-pra-writes-to-ceos-to-emphasise-the-need-for-investment-focus-on-regulatory-reporting/

01 Mar 2022The Acceleration of Regulatory Reporting’s Growth with Avantage Reply’s Vishwas Khanna & Brain Momoh #200:34:59

Given the invention of the double entry bookkeeping system came many centuries ago, regulatory reporting is in its relative infancy when compared to financial reporting. So how can we better instigate its growth to catch up?

Joining us on FinTalk this week to consider the complex nature of regulatory reporting and how we can boost its evolution are Avantage Reply’s Vishwas Khanna & Brain Momoh.

Vishwas & Brain delve into cascading accountability from the top down, simplifying the subjective nature of the sector’s use of interpretations, and the cost of misreporting ESG that elevates its importance far beyond CSR.

This episode of The VERMEG podcast covers:

  • How the approach to regulatory reporting standards has evolved in recent years, and its current trajectory
  • The process of establishing organisation-wide accountability
  • Being more proactive and accelerating the growth of the reg reporting sector
  • Key differences that emphasise the increasing focus on ESG over CSR

VERMEG:
https://www.vermeg.com/
https://www.linkedin.com/company/vermeg/

Jawad Akhtar:
https://www.linkedin.com/in/jawad-akhtar-313562b/

Vishwas Khanna:
https://www.linkedin.com/in/vishwaskhanna/

Brain Momoh:
https://www.linkedin.com/in/brain-o-momoh-frm-dipacb-meng-041789a/

15 Mar 2022The Seamless, Automated Future of Regulatory Reporting with Apiax’s Alan Blanchard #300:15:23

The future of RegTech holds great promise for those looking to automate their regulatory reporting, allowing businesses to grow faster with less manual input, and a shining example of this comes from Apiax’s world-leading systems.

Apiax’s Alan Blanchard joins Jawad Akhtar on FinTalk to give us a look into how these automated systems are being constructed & implemented, how we can encourage steady implementation of innovative RegTech, and where the UK’s efforts to streamline regulatory reporting stack up against the rest of the world.

This episode of The VERMEG podcast covers:

  • How the UK’s progress on machine-readable rules stacks up against the rest of the world
  • Ways in which the pandemic has accelerated digital transformations
  • The challenges behind regulators and regulated companies together with an autonomous system

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Alan Blanchard: https://www.linkedin.com/in/blanchardab/

Apiax: https://www.linkedin.com/company/apiax/
https://www.apiax.com/

29 Mar 2022Horizon Scanning: React to 2021’s Regulatory Reporting Changes with Hanbury Hampden-Turner #400:14:59

As we lead up to the new financial year, it’s a perfect time for some horizon scanning, particularly with the quantity of sizable changes we’re seeing in regulatory reporting.

Hanbury Hampden-Turner is our Head of Regulatory Product in Europe, and is tasked with interpreting the new rules on a global basis. We draw on Hanbury’s expertise this week as we cover recent developments in IFPR, CRR2, IFRS9, the move to BEEDS, and much more.

This episode of The VERMEG podcast covers:

  • How changes to the calculation of key ratios and credit risk will affect regulatory reporting
  • Implications of the move from XML to XBRL
  • The biggest statistical reporting changes in decades, as we move towards wider implementation of BEEDS

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Hanbury Hampden-Turner: https://www.linkedin.com/in/hanbury-hampden-turner-16004514/

12 Apr 2022Prepare for the Implementation of ECMS with VERMEG’s Ferdinand Peelen #500:22:29

With the introduction to ECMS in late-2023, it’s high time to consider whether you’re ready for the new, unified approach to managing collateral assets.

If you need to brush up on what to expect from these changes, and what you can do to best prepare, Ferdinand Peelen is here on FinTalk to break down the system, who’s affected, and how to be ready for its introduction.

Ferdinand talks us through VERMEG’s proud involvement in creating the ECMS system, and the tools we’ve created to assist firms looking for a solution to comply with the new regulations.

This episode of The VERMEG podcast covers:

  • Implications of the ECMS implementation
  • Who is potentially affected by the introduction of ECMS, and to what extent
  • How VERMEG’s ‘EASY Collateral’ is built to tackle the regulation changes
  • A timeline for where you should be on the path to adapting your systems

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Ferdinand Peelen: https://www.linkedin.com/in/ferdinandpeelen/

14 Jun 2022How Will Regulators React to the Rise of Cryptocurrency with Barney Reynolds #600:28:22

Digital assets and cryptocurrency is a growing phenomenon, for which current regulatory standards aren’t yet fully tailored. So what risks should we be aware of with these assets?

We pick through NFTs, stablecoins and digital assets with Barney Reynolds, Partner at Shearman & Sterling LLP, breaking down the volatility we’re currently seeing, and how soon we might expect the Treasury and FCA to share their approach.

This episode of The VERMEG podcast covers:

  • How the UK’s regulators are likely to become thought leaders in handling and regulating digital assets
  • Whether the approach to cryptocurrency will be more akin to a currency or a financial investment
  • The transparency necessary to avoid crypto becoming the instigator of another 2008-style financial crisis
  • A potential timescale on which we’ll see regulators respond with an implementation timeline

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Barney Reynolds: https://www.linkedin.com/in/barnabas-reynolds-financiallawyerlondon/

Shearman & Sterling LLP: https://www.linkedin.com/company/shearman-&-sterling-llp/

28 Jun 2022Technology’s Role in the Future of Collateral Management with Director Product Strategy at VERMEG, Wassel Dammak #700:14:17

Collateral optimisation is set to be a hot topic for the years to come, with a newfound focus on automation and efficiency. This makes the mastery of your systems and processes absolutely vital.

VERMEG’s Wassel Dammak brings us a look into the tools and methods through which this can be achieved, bringing COLLINE, machine learning and artificial intelligence to the forefront of the conversation.

This episode of The VERMEG podcast covers:

  • How collateral optimisation can enable automation and efficiency by pledging the optimal collateral
  • Considerations around constraints, be they legal, operational, or business constraints
  • COLLINE’s email extractor, and how machine learning/artificial intelligence can help streamline processes
  • Horizon scanning, and where technology will solve impending challenges
19 Jul 2022Regulatory Reporting Catchup with VERMEG’s James Phillips #800:25:25

It’s been a few months since our last look at the regulatory landscape in the wake of October 2021’s Dear CEO, and with many regulations taking form and becoming more tangible, it’s a perfect time to rendezvous with our first guest on the podcast, James Phillips.

James, VERMEG’s fantastic Regulatory Strategy Advisor, has his finger on the pulse of 6 key areas in regulatory reporting, from cryptocurrency and its interesting connection to ESG, increasing regulation around digitisation, and much more.

We’re also looking ahead to the VERMEG Regulatory Reporting Conference on the 28th of September, so keep your eyes peeled on the VERMEG website to sign up.

This episode of The VERMEG podcast covers:

  • Cryptocurrency’s regulation, and considering the unlikely link to ESG
  • Digitisation and the Strong & Simple regime
  • Developments in UK Divergence
  • Other topics set to become key areas tackled at our upcoming Regulatory Reporting Conference

Register for the conference here: https://mta.vermeg.com/l/197/regreporting2022?utm_source=fintalk&utm_campaign=regconference2022

VERMEG:
https://www.vermeg.com/
https://www.linkedin.com/company/vermeg/

Jawad Akhtar:
https://www.linkedin.com/in/jawad-akhtar-313562b/

James Phillips:
https://www.linkedin.com/in/jamesphillips2/


06 Sep 2022Dear CEO: One Year On - Expected Progress and Next Steps with MCO’s Paul Manson & Richard Pike #900:29:24

One year on from the Dear CEO letter emphasising the need for investment and focus on regulatory reporting, where should firms’ reg reporting systems be now, and what might the future hold?

This week on FinTalk, MCO’s Richard Pike and Paul Manson weigh in on the progress that’s expected of firms in response to the letter, ideal methods to focus firms’ investments into regulatory reporting systems, and next steps to bring regulatory reporting alongside financial reporting.

This episode of The VERMEG podcast covers:

  • How MCO have been processing and dealing with the Dear CEO topics
  • The key link being made between the standards for financial reporting and regulatory reporting
  • Where firms should be now, having had a year to process the letter
  • Advice for firms looking at setting a target operating model, and where they could invest

VERMEG: https://www.linkedin.com/company/vermeg/

Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/

Paul Manson: https://www.linkedin.com/in/paul-manson-032a9a3/

Richard Pike: https://www.linkedin.com/in/richardpikestir/

MCO: https://www.linkedin.com/company/mycomplianceoffice/
               https://mco.mycomplianceoffice.com/


20 Sep 2022Horizon Scanning: Anticipating and Reacting to a New Governmental Direction with Gavin Stewart & Hanbury Hampden-Turner #1000:18:14

A new calendar year is nearly upon us, and with a new Prime Minister comes governmental change that could easily affect the trends and patterns emerging in UK regulation.

Joining us on FinTalk to clear the fog on the horizon and look at what the industry may have in store, we hear from Gavin Stewart - Director at Grant Thornton LLP - and a returning guest, VERMEG’s Hanbury Hampden-Turner.

We hear how Big Bang 2.0 indicates a sharp change in direction, why shifts may be slower than expected, the overarching themes surrounding market risk, and much more.

This episode of The VERMEG podcast covers:

  • The biggest changes we’re likely to see with the new governmental direction
  • Patterns forming with ESG-based policy and legislation
  • Overarching themes around market risk, more granular data and temporary measures becoming permanent
  • How firms might guide their client base through the cost of living crisis

VERMEG: https://www.linkedin.com/company/vermeg/
Jawad Akhtar: https://www.linkedin.com/in/jawad-akhtar-313562b/
Gavin Stewart: https://www.linkedin.com/in/gavinbstewart/
Grant Thornton UK LLP: https://www.linkedin.com/company/grant-thornton-uk-llp/
Hanbury Hampden-Turner: https://www.linkedin.com/in/hanbury-hampden-turner-16004514/

FutureFit Regulatory Conference: https://www.vermeg.com/event/futurefit-2022-regulatory-conference/?utm_source=linkedin&utm_campaig=post-2 

15 Nov 2022The Open Source Future of Financial Services with FINOS CTO, Jane Gavronsky & VERMEG’s Head of Regulatory Product, Malcolm Arnold #1100:22:44

When regulatory reporting is a burden and cost shared by all, it’s an area ripe for collaboration, and one growing movement to make that happen is that of open source software.

Instigating that evolution is FINOS, and their CTO Jane Gavronsky joins us on FinTalk to discuss the virtues and value in both open source principles and the culture surrounding it.

We also hear from our own Global Head of Regulatory Product, Malcolm Arnold, about the potential future implications and who needs to drive the buy-in to open source projects.

This episode of The VERMEG podcast covers:

  • The basics of what open source is
  • How culture plays a role in the success of open source
  • Ways in which open source software can help with governance, controls, and data lineage
  • Who needs to drive the movement for open source
06 Dec 2022Catalysing Efficient Reg Change Through RegTech with Niresh Rajah & Alan Blanchard #1200:33:07

From recent research, 50-70% of a firm’s annual change budget is spent on regulatory change - could the growth of comprehensive RegTech solutions impact that for the better?

Peering into the future of how RegTech can be used more efficiently, we hear from Grant Thornton UK LLP’s Niresh Rajah, and welcome back a former guest on the show, Alan Blanchard.

This episode of The VERMEG podcast covers:

  • How to reframe RegTech as an area of value creation rather than simply cost
  • Using technology to ensure consistent compliance and assist horizon scanning
  • Reducing manual work to introduce meaningful cost savings
  • How the Bank of England transforming data collection changes the landscape for firms
13 Dec 2022Blockchain’s Big Picture & Combatting Crypto Concerns with Co-Founder of Confio GmbH, Martin Worner #1300:21:00

Blockchain is a word on everyone’s lips right now, whether you’re learning more about the tech and its uses, already proficient, or observing situations like the fallout from FTX’s recent collapse.

Joining us on FinTalk to help distil the latest in the blockchain space is Confio GmbH’s Co-Founder, Martin Worner, who shares the current potential for automation, potential impacts of Central Bank Digital Currencies, and his hopes for the industry’s future.

This episode of The VERMEG podcast covers:

  • The basics of blockchain and how firms can utilise it
  • Unlocking a currently untapped potential for automation
  • Gains and concerns surrounding the concept of Central Bank Digital Currencies
  • How the recent FTX fiasco affects/represents the big picture in the market
24 Jan 2023Data Quality’s Vital Role in Achieving ESG Goals with Partner at Tata Consultancy Services, Navin Rauniar #S2E100:20:24

With a new year comes a renewed focus on ESG from all who commit to it, but have the financial industry’s efforts been overly focused on the environment, leaving social and governance by the wayside.

Behind every ESG effort must be good data to convey environmental commitments and the risk surrounding them, a point not lost on Tata Consultancy Services Partner, Navin Rauniar.

Navin joins Jawad Akhtar on FinTalk to discuss social value metrics, SS3/19 impacts, and the importance of good data standards in any ESG endeavours.

This episode of The VERMEG podcast covers:

  • Metrics of social value, such as gender equality and diversity & inclusion 
  • How poor data surrounding collateral played into the cause of 2008’s financial crisis
  • SS3/19’s impact on financial risk surrounding environmental commitments and policies
  • Finding the balance between risk and reward in the markets following The Edinburgh reforms in December
19 Apr 2023Navigating Regulatory Challenges with Linklaters: Edinburgh Reforms, FCA Consumer Duty, and MiFID - #S2E200:23:35

Welcome to FinTalk by Vermeg, the leading podcast in FinTech and RegTech that addresses the most pressing topics in the financial industry. 

 

In the second episode of season 2, our host Jawad Akhtar is joined by renowned industry experts Jean Price, Harry Eddis, and Hanbury Hampden Turner from Linklaters.  

 

Together, they navigate the complex regulatory landscape, discussing the implications of the Edinburgh Reforms, FCA's consumer duty, changes in MiFID, and the growing impact of cryptocurrency on the market. 

 

This episode of FinTalk covers: 

 

  • Unravelling the complexities of the Edinburgh Reforms 
  • Understanding the FCA's consumer duty and its implications 
  • Adapting to the changes in MiFID and the impact on financial institutions 
  • The rising influence of cryptocurrency in the financial sector and regulatory reporting 
09 May 2023Opportunities and Risks in Regulatory Compliance and Resilience – #S2E300:28:17

Welcome to FinTalk by Vermeg, the leading podcast in FinTech and RegTech that addresses the most pressing topics in the financial industry. 

 

In the third episode of season 2, our host Jawad Akhtar welcomes back James Phillips, Founder and Consultant, RegTech Innovate and former Global Head of Regulatory Strategy at Vermeg to discuss the opportunities and risks in regulatory compliance and resilience. 

During the episode, James Phillips shares his insights on the critical elements of operational resilience, change detection, horizon management, and regulatory reporting. James emphasises the importance of taking a step back before adopting RegTech solutions and re-evaluating the fundamental processes and data needed for the firm to achieve regulatory compliance and operational resilience. 

 

This episode of FinTalk covers: 

 

  • The definition of operational resilience and why it's crucial in today's financial landscape 
  • The role of RegTech in achieving operational resilience, including its use in regulatory reporting, risk management, and compliance 
  • The importance of data in achieving operational resilience and how firms can capture and use it effectively 
  • The emerging trends and regulations that will shape the RegTech landscape in the coming years 
24 May 2023Transforming Data Collection, Data Standards and Regulatory Reporting – #S2E400:25:59

Welcome back to FinTalk by Vermeg, where we explore the most pressing topics in FinTech and RegTech. 

  

In the fourth episode of season 2, our host Jawad Akhtar invites Andrew Turvey, Director of Prudential Risk at Belmont Green, to delve into the Transforming Data Collection (TDC) programme. 

  

During the episode, Andrew provides insights into the TDC programme’s objectives, the importance of industry participation, and the role of data standards in regulatory reporting. He encourages firms to actively participate in shaping the programme and align their data management practices with the TDC's goals. 

  

This episode of FinTalk covers: 

  

  • The Transforming Data Collection (TDC) programme's objectives and its long-term approach 
  • The importance of data standards in regulatory reporting 
  • The role of firms in shaping and contributing to the TDC programme 
  • The potential future impact of the TDC programme on regulatory reporting practices 
07 Jun 2023Consumer Duty Unpacked: An In-Depth Conversation with Matthew Tyrrell #S2E500:14:19

Welcome to FinTalk, the leading podcast in Financial Services that addresses the most pressing topics in the finance industry.

 

In this episode, our host Jawad Akhtar is joined by renowned industry expert Matthew Tyrrell, Senior Manager at EY. Together, they unravel the complex world of Consumer Duty, its importance, the role of data in understanding consumer needs, and how firms can adapt to meet new regulatory requirements and expectations.

 

This episode of FinTalk covers:

 

- The concept and significance of Consumer Duty in financial services.

- The role of data and technology in understanding and meeting consumer needs.

- How firms can adapt to the evolving regulatory landscape and embrace change.

  

21 Jun 2023ESG Disclosures: A New Regulatory Landscape #S2E600:18:06

Welcome to FinTalk, the leading podcast in Financial Services that addresses the most pressing topics in the FinTech and RegTech.

In this episode, our host Jawad Akhtar talks with Mark Davies, Partner at Element22, to shed light on ESG data and the European Union regulations shaping the banking industry. They discuss the importance of sustainability reporting, EU Taxonomy, data collection strategies, climate risks, and how financial institutions can adapt to regulatory changes while ensuring quality data.

 
This episode of FinTalk covers:

 

- The intricacies of EU sustainability reporting, specifically NFRD and CSRD, and their impact on ESG reporting in banking.

- Navigating essential metrics such as Green Asset Ratio (GAR) and Banking Book Taxonomy Alignment Ratio (BTAR), and understanding the role of EU Taxonomy in sustainability.

- Strategies for data collection to address challenges and enhance data quality in sustainability reporting.

- The significance of geographic data and climate information in analysing climate risks for the banking industry.

- How financial institutions can stay updated with evolving regulations and leverage third-party tools for compliance and reporting.

Episode highlights:

 

“CSRD will actually expand its scope slightly, well, significantly actually, rather than just the largest exchange listed corporates being in scope for NFRD, under CSRD, the expectation is that approximately 50,000 corporates across Europe will be covered by that, based on having more than 500 employees and a number of different financial metrics in terms of the size of the organization. But in short, the green asset ratio depends on data that's being published by those organizations.”

- Mark Davies.

 

 

“The EBA have published a really simple summary, two-pager I think it is, that explains the requirements for Pillar 3 disclosures around ESG and the expectations around that. Actually, it's an excellent document in the sense that it brings it up to a level that anyone can read and understand. I would begin there, understand those requirements. The key deadlines, there's a date of December 23, so the end of this year, for reporting the Green Asset Ratio, and the middle of 2024 for the BTAR ratio, banking book taxonomy alignment ratio”

- Mark Davies.

 

 

“Clearly the Green Asset Ratio, I'd say because the deadlines are actually slightly earlier than the BTAR ratio deadlines, the information that's required to satisfy the GAR is probably the first place to begin. That would include capturing information from NFRD statements for large lending and financing customers. That would be a logical place to begin. The next piece of the puzzle I would say is then probably to start to think about some of the climate specific information. Having a good understanding of your three sectors is going to be critical because that will drive which aspects of the EU Taxonomy Compass and therefore the detail around your sustainability activities.”

- Mark Davies.

 

Links & references:

 

VERMEG:

https://www.vermeg.com/

https://www.linkedin.com/company/vermeg/

Jawad Akhtar:

https://www.linkedin.com/in/jawad-akhtar-313562b/

 

 

Mark Davies:

https://www.linkedin.com/in/markdaviesdata

 

Element22 Link:

 

https://element-22.com/

 

18 Jul 2023Navigating Basel III Reforms in the Banking Sector #S2E700:21:57

Welcome to FinTalk, the leading podcast in Financial Services that addresses the most pressing topics in the FinTech and RegTech.

In this episode, our host Jawad Akhtar talks with Paul Whitmore, Global Head - Counterparty Risk Solutions at Fitch to illuminate the Basel III final reforms and their global banking implications. They discuss the SCRA and ECRA approaches, the surge in interest in Basel III reforms amidst the COVID-19 pandemic, the role of different ratings, grades, and agencies in shaping banks' strategies, and much more.

This episode of FinTalk covers:

• Understanding the Basel III reforms and their impact on banking, particularly focusing on SCRA and ECRA approaches.

• The importance of quantitative impact studies in understanding and managing the implications of these reforms.

• The role of ratings, grades, and agencies in helping banks devise effective strategies.

• Exploring the unique implications for unrated banks within the Basel III regulatory framework.

• An in-depth discussion on the different interpretations and implementations of Basel III reforms across various jurisdictions like the EU, UK, and US.

Episode highlights:

 

“I'll give you an example. So the Canadian regulators that came into effect this year, they've given banks an option of how to treat unrated banks. You can use the simplified approach. Soone risk weight for all unrated banks, but you've got to stick with it. You can't swap and choose or you can adopt the SCRA. So most Canadian banks have opted for the simplified approach. "Let's just stick with I think it's 50% risk weight. That's not a bad compromise. We might not benefit from a 30% or a 40% risk weight, but we are avoiding the 150% risk way." So it was the regulators of Canada to make that decision on what's best for their country. And every country will implement something slightly different I think.” - Paul Whitmore (09:32)


 

“So this will probably have the largest impact. I think what people have to try and think about is it's not just this unrated bank thing. It's how bank exposures are being treated by all of the Basel proposals. So no longer can you estimate your own LGD. Okay, you could use your own rating assessment previously.” - Paul Whitmore (13:11):

 

 

“Okay, so that again, the framework is still being adopted, but there's nuances and every jurisdiction is going to have a slightly different flavor to it. Australia didn't implement the SCRA. They're fully on board with the Basel III final reforms, but decided on a simplified approach again. They felt after speaking to three or four of the larger banks in Australia, they said APRA felt that the SCRA was too complicated, which I don't think it is. As these banks were laughing at that saying, "Well, we all said it was a great approach, that APRA decided that it was too complicated to implement at this time." So they've gone for a simplified approach again.” Paul Whitmore (16:56):



Links & references:

 

VERMEG:

https://www.vermeg.com/

https://www.linkedin.com/company/vermeg/

Jawad Akhtar:

https://www.linkedin.com/in/jawad-akhtar-313562b/

 

https://www.linkedin.com/in/paul-whitmore-92a90412/

Fitch Solutions: Data, Research & Analytics for Credit Risk & Strategy

23 Aug 2023Basel 3.1 Reporting: Risk Weights, Property Market, Social Housing & Data Governance #S2E800:21:54

Welcome to FinTalk, the leading podcast in Financial Services that addresses the most pressing topics in the FinTech and RegTech.

In this episode, our host Jawad Akhtar talks with Oivind Andresen, a leading expert
in financial regulations, to explore Basel 3.1 and its profound implications for the
financial services industry. They discuss mortgage markets, risk weights, the
Prudential Regulation Authority's (PRA) role, capital requirements, compliance, and data governance.

This episode of FinTalk covers:

  • The introduction of Basel 3.1, its impact on commercial property mortgages, and the relationship between loan-to-value (LTV) bands and risk weights.
  • How Basel 3. 1 changes will impact capital requirements, particularly for firms involved in social housing.
  • The PRA's role in setting regulations and their stance on risk weights, social housing, and the January 2025 implementation date.
  • Importance of firms undertaking impact analysis to understand the changes required by the new rules.



Links & references:

VERMEG:

https://www.vermeg.com/

https://www.linkedin.com/company/vermeg/

Jawad Akhtar:
https://www.linkedin.com/in/jawad-akhtar-313562b/

Oivind Andresen
https://www.linkedin.com/in/oivind-andresen-580a8a2/

26 Sep 2023A New Era of Market Risk: Unraveling the Complexities of Basel 3.1 #S2E900:18:09

Welcome to FinTalk by Vermeg, the leading podcast in Financial Services that addresses the most pressing topics in the Regulatory Reporting industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Enrico Messori, Director of Deloitte UK. Together, they delve deep into Basel 3.1, its implications for market risk, and the challenges of data and technology in the financial services sector.

This episode of FinTalk by Vermeg covers:

• The significance and changes in Basel 3.1, especially in market risk.

• The intricacies of the C.V.A. Framework and its expanded scope.

• The minimal changes in SA-CCR due to the C.V.A. framework alterations.

• The surge in reference data needs, the role of third-party providers, and the importance of data quality in regulatory reporting.

10 Oct 2023Deep Dive into the current state and future of ESG Reporting #S2E1000:27:42

Welcome to FinTalk by VERMEG, the leading podcast in Financial Services that addresses the most pressing topics in the FinTech and RegTech industry.


In this episode, our host Jawad Akhtar is joined by the renowned industry expert Navin Rauniar, a partner at Tata Consultancy Services (TCS). Together, they navigate through the complexities of ESG reporting, highlighting the importance of data, the challenges of regulations, and the future of ESG reporting.

24 Oct 2023Central Bank Digital Currencies (CBDCs): The Next Frontier in Finance? #S2E1100:26:35

Welcome to FinTalk by Vermeg, the leading podcast in Regulatory Reporting and RegTech that addresses the most pressing topics in the financial services industry.

 

In this episode, our host Jawad Akhtar is joined by renowned industry expert Martin Worner, Chair of Stelerator. Together, they delve into an insightful discussion about the current state of blockchain and cryptocurrencies, the importance of legislation, and the potential of Central Bank Digital Currencies (CBDCs).

 

This episode of FinTalk by Vermeg covers:

 

The role of legislation in the blockchain and crypto space

The emergence of Central Bank Digital Currencies (CBDCs)

The potential of blockchain in automating financial transactions

The necessity of regulation for consumer protection


561dd89ad65a840145a62ba7f14a577a595e3c89 

07 Nov 2023Collaborating for Success: The Future of RegTech with Deborah Young #S2E1200:14:15

Welcome to FinTalk by Vermeg, the leading podcast in FinTech and RegTech that addresses the most pressing topics in the financial and regulatory technology industry.


In this episode, our host Jawad Akhtar is joined by renowned industry expert Deborah Young, CEO of the RegTech Association. Together, they delve into the importance of trust and collaboration in the RegTech industry and predict its future.


This episode of FinTalk by Vermeg covers:

  • The significance of trust in RegTech
  • The role of collaboration among regulators, institutions, software vendors, and government
  • The function and impact of the RegTech Association
  • The effects of regulatory changes on the industry
  • The embrace of innovation within institutions
  • The potential of RegTech in various societal issues, like digital identity
  • The future plans of the RegTech Association
21 Nov 2023Embracing Business Transformation in the Financial Industry #S2E1300:20:23

Welcome to FinTalk by Vermeg, the leading podcast in the financial industry that addresses the most pressing topics in the world of regulatory reporting and risk regulation.


In this episode, our host Jawad Akhtar is joined by the renowned industry expert Brain Momoh, Senior Manager at Avantage Reply. Together, they delve into the crucial topic of business transformation, discussing the role of technology, the importance of governance, and navigating the challenges of legacy systems.


This episode of FinTalk covers:

  • Understanding the Importance of Business Transformation
  • The Role of Technology in Driving Transformation
  • The Significance of Governance in Successful Transformations
  • Overcoming the Challenges of Legacy Systems in Banking



12 Dec 2023Navigating Model Risk Management with Monocle Solutions #S2E1400:26:07

Welcome to FinTalk, the leading podcast in Financial Services that addresses the most pressing topics in the banking and regulatory reporting industry.

In this episode, our host Jawad Akhtar is joined by renowned industry experts Rheta Du Preez and Rogan Pietersen from Monocle Solutions. Together, they delve into the intricacies of Model Risk Management and its impact on the banking sector.

This episode of FinTalk covers:

Understanding Model Risk Management as part of Supervisory Statement 123

The role of governance and Senior Management Functions (SMF) in model risk management

The importance of a smart, risk-based approach to compliance

Future implications of model risk management, including the advent of ESG regulations

22 Jan 2024The Future of Finance: Embracing Al Ethics in Regulatory Reporting #S3E100:21:44

Welcome to FinTalk by Vermeg, the leading podcast in financial services that addresses the most pressing topics in the financial services industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Anna Nicolis. Together, they discuss the importance of AI ethics within financial services, the challenges of regulatory compliance, and the management of AI risks.

This episode of FinTalk by Vermeg covers:

  • The intersection of AI ethics with regulatory reporting and compliance.
  • The role of AI in transforming risk management strategies within financial services.
  • How global regulations such as the EU AI Act are shaping industry standards.
  • Strategies for firms to adapt to rapid AI advancements and regulatory changes.
05 Feb 2024Adapting to Market Risk in the New Basel 3.1 Framework #S3E200:24:02

Welcome to FinTalk, the leading podcast in financial services that addresses the most pressing topics in the banking and regulatory reporting industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Enrico. Together, they delve into the nuances of the PRA's release of the near-final Basel rules and the implications for financial institutions.

This episode of FinTalk covers:

  • The PRA's approach to Basel implementation and the potential for last-minute changes.
  • The distinction between the Internal Model Approach and the Standardized Approach for market risk.
  • The explosion of detail in the EU's regulatory technical standards and what it means for reporting.
  • A pragmatic look at the trajectory of regulatory reporting and data quality.
19 Feb 2024AI Transforming Financial Regulation: Insights from RegTech Associates #S3EP300:18:42

Welcome to FinTalk by Vermeg, the leading podcast in financial technology that addresses the most pressing topics in the financial services industry.


In this episode, our host Jawad Akhtar is joined by renowned industry expert Emma Parry from RegTech Associates. Together, they delve into the dynamic role of AI in financial regulation, offering invaluable insights on how technology is being harnessed by central banks and the implications this has for market integrity and surveillance.


This episode of FinTalk covers:

The innovative ways AI is being utilised by central banks for market surveillance and detecting economic shocks.

The role of digital sandboxes in testing market manipulation scenarios.

The concept of AI as a copilot in regulatory technology and its applications in financial services.

The challenges and opportunities presented by AI, including data governance and fraud prevention.

12 Mar 2024Consumer Duty Regulation #S3EP400:20:34

Welcome to FinTalk by Vermeg, the go-to podcast for financial services that tackles the biggest issues in finance.

In this episode, our host Jawad Akhtar welcomes Michael Lawrence from Bovill, a top expert in the field. They talk about the nitty-gritty of Consumer Duty and what it means after the July 2023 deadline. They'll also look at how the FCA's changing rules and how technology can help with following the rules.

This episode of FinTalk by Vermeg covers:

  • Where we are with putting Consumer Duty into action in the wealth management world
  • How the FCA's steps are helping companies understand what 'fair value' means
  • The struggles companies have with Consumer Duty's broad rules
  • Why technology and new ideas are key to meeting Consumer Duty needs
26 Mar 2024Embracing Diversity and Inclusion in Financial Services #S3EP500:24:28

Welcome to FinTalk by Vermeg, the leading podcast in financial services that addresses the most pressing topics in the regulatory reporting and Regtech industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Kasia. Together, they delve into the significance of diversity and inclusion in the workplace and how it can lead to improved financial performance and productivity.

This episode of FinTalk by Vermeg covers:

  • The measurable benefits of diversity within companies
  • The current landscape of women in tech leadership positions
  • The importance of cultural intelligence over mere statistical diversity
  • The role of data in driving diversity and inclusion initiatives
30 Apr 2024Exploring Financial Crime Risk Assessment and the Evolving Landscape00:19:58

Welcome to FinTalk, the leading podcast in regulatory compliance and financial services that addresses the most pressing topics in the industry. In this episode, our host Jawad Akhtar is joined by Jessica Cath from Thistle Initiatives. Together, they talk about the world of financial crime prevention, regulatory compliance, and the evolving regulatory landscape.


This episode of FinTalk covers:

  • Unpacking the implications of the FCA's Dear CEO letter for financial crime prevention
  • Insights into the UK government's strategic focus on countering fraud and money laundering
  • Challenges faced by firms, particularly smaller players, in implementing regulatory changes


Episode Highlights:

  • Jessica Cath emphasises the importance of robust risk assessments for financial firms
  • The UK government's strategic goals in countering fraud and money laundering
  • Practical tips for firms to navigate the evolving regulatory landscape
21 May 2024Shaping Finance: The Role of RegTech, AI, and Data Quality00:19:20

Welcome to FinTalk by Vermeg, the leading podcast in financial services that addresses the most pressing topics in the financial services industry.

In this episode, our host Jawad Akhtar is joined by renowned RegTech expert James Phillips. Together, they delve into how technological innovations and regulatory changes are reshaping the financial services landscape.


This episode of FinTalk by Vermeg covers:

  • The Role of Technological Innovations: How new technologies are essential for staying competitive in the financial market.
  • The Importance of Data Quality: Discussing why high-quality data is crucial for operational success and compliance.
  • Proactive Governance, Risk, and Compliance (GRC): Exploring the benefits of adopting a forward-thinking approach to GRC.
  • The Impact and Integration of AI in Compliance: How AI is revolutionising compliance processes in financial services.
04 Jun 2024How Basel 3.1 is Transforming Regulatory Reporting in Banking00:17:00

Welcome to FinTalk by Vermeg, the leading podcast in the financial services industry that addresses the most pressing topics in the regulatory reporting and regtech sectors.

In this episode, our host Jawad Akhtar is joined by renowned industry experts Andrew and Steve. Together, they delve into the intricacies of Basel 3.1 regulations and their significant impact on the financial services sector.

This episode of FinTalk by Vermeg covers:

  • Navigating Basel 3.1: Insights into the anticipated updates on market risk management, Credit Valuation Adjustment (CVA), and operational risk.
  • Transitional Provisions: What the shortened timeframe means for compliance and how firms should prepare.
  • Data Requirements: Identifying new client data fields and understanding their importance for regulatory reporting.
  • Strong and Simple Regulations: Exploring the expected minor changes and their implications for financial services compliance.
  • Due Diligence: Addressing the upcoming challenges around standardised credit risk assessment (SCRA) and the need for robust internal processes.
  • Industry Advice: Practical steps for firms to gear up for these extensive regulatory changes.
18 Jun 2024The challenges and Solutions in SME Lending00:19:39

Welcome to FinTalk by Vermeg, the leading podcast in the financial services industry that addresses the most pressing topics in the regulatory reporting and RegTech space.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Gabriele Sabato, Co-Founder and CEO of Wiserfunding. Together, they explore the challenges and solutions in SME lending, regulatory impacts, government support, and the transformative role of technology.

This episode of FinTalk by Vermeg covers:

  1. SME Lending Challenges: Understanding the inherent risks and economic pressures faced by SMEs.
  2. Regulatory Impact: The effects of Basel regulations and the removal of the SME supporting factor in the UK.
  3. Government Policies and Support: A comparison of SME support measures in the UK and Europe.
  4. Technology as a Solution: How digitalisation and financial technology can improve capital allocation and financial literacy for SMEs.
29 Jul 2024Using AI for Effective Digital Transformation in Financial Services00:16:47

Welcome to FinTalk by Vermeg, the leading podcast in the fintech industry that addresses the most pressing topics in the financial services industry.


In this episode, our host Jawad Akhtar is joined by renowned industry expert Zahra Shah. Together, they delve into the intricacies of digital transformation in banking, focusing on legacy banking systems and the driving forces behind this transformation.

This episode of FinTalk by Vermeg covers:

  • Impact of Digital Transformation on Legacy Systems
  • Regulatory Compliance in Fintech
  • Current Trends in Technology
  • Board-Level Digital Strategy
  • Cultural Change in Transformation Programs

Episode Highlights:

  • Zahra Shah's insight on Legacy Systems: "The best way to get value using digital transformation is to use add-ons or APIs so you don't have to start from scratch."
  • Zahra Shah on Regulatory Compliance: "Regulatory compliance is the biggest driver because of potential loss of reputation, loss of business, and fines."
  • Zahra Shah on Cultural Change: "If you haven't incorporated a cultural change with the digital transformation, then it will not succeed."

Listen to the full episode now on your favourite podcast platform and stay informed about the latest trends and regulations affecting your business.

18 Sep 2024Navigating the Complex Landscape of ESG Reporting and Sustainable Finance00:26:52

Welcome to FinTalk by Vermeg, the leading podcast in financial services that addresses the most pressing topics in the banking and regulatory reporting industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Navin Rauniar. Together, they explore the intricate world of ESG reporting, the challenges of greenwashing, and the role of financial institutions in driving corporate sustainability.

This episode of FinTalk by Vermeg covers:

  1. The importance of aligning ESG reporting frameworks to avoid greenwashing
  2. How climate risk scenarios can inform sustainability strategies
  3. The evolving regulatory landscape for sustainable finance across the UK, US, and EU
  4. The impact of geopolitical events on global sustainability efforts and net zero strategies
22 Oct 2024Navigating Leadership Challenges in Financial Services00:22:36

Welcome to FinTalk, the leading podcast in financial services that addresses the most pressing topics in the finance industry.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Joli Riley, a former software engineer turned COO and business coach. Together, they explore the evolving landscape of leadership in financial services, discussing regulatory changes, workplace dynamics, and strategies for navigating crises.


This episode of FinTalk covers:

  • Adapting to regulatory changes in the financial sector
  • Addressing mental health and post-COVID workplace dynamics
  • Implementing diversity and inclusivity strategies in finance
  • Navigating technological change and digital transformation
  • Applying crisis management tactics in financial services
11 Nov 2024Basel 3.1: Navigating the New Regulatory Landscape00:19:33

Welcome to FinTalk by Vermeg, the leading podcast in Financial Services that addresses the most pressing topics in the regulatory reporting industry.

In this episode, our host Jawad Akhtar is joined by regulatory experts Steve Nagle (Regulatory SME) and Andrew Sylvester (Regulatory Product Analyst). Together, they unpack the significant changes in Basel 3.1 implementation, credit risk frameworks, and the new SDDT regime.

This episode of FinTalk covers:

  • The shift to 2027 implementation timeline and interim capital regime arrangements
  • Comprehensive changes to credit risk frameworks and property exposure classifications
  • Introduction of the SDDT banking framework and its operational implications
  • Technical updates to regulatory reporting taxonomy and validation rules

Episode Highlights:
 Steve Nagle: "The SDDT doesn't kick in till January 27th. So it is that year interim capital regime option... if companies want to opt into the SDDT regime, then for that year, they can also opt to go into the interim capital regime as well."

Andrew Sylvester: "The PRA have removed the 100 percent risk weight floor for regulatory commercial real estate exposures to corporates, including SMEs, where repayment is not materially dependent on cash flows from the property."

Listen to the full episode now on your favourite podcast platform and stay informed about the latest trends and regulations affecting your business.

25 Nov 2024Mastering Regulatory Reporting and Compliance Challenges00:20:31

Welcome to FinTalk, the leading podcast in the financial services industry that addresses the most pressing topics in the regulatory and compliance landscape.

In this episode, our host Jawad Akhtar is joined by renowned industry expert Samir Jamal from WTS Hansuke. Together, they delve into the complexities of regulatory reporting and explore practical strategies for financial institutions to enhance their compliance efforts.

This episode of FinTalk covers:

- Navigating Section 166 Skilled Persons Reviews
- Interpreting Proportionality in Implementing Banking Regulations
- Regulatory Change Management for Competitiveness
- Upcoming Challenges: Basel 3.1 and ESG Reporting Requirements

19 Nov 2021Welcome to "FinTalk" by VERMEG - Trailer00:01:57

Welcome to FinTalk, the podcast at the forefront of financial technology brought to you by VERMEG.

I'm Jawad Akhtar, a Senior Consultant at Vermeg with over 15 years of financial services experience and a passion for creating tailor-made solutions to meet the evolving digitised needs of today's top finance businesses.

I'll be your host throughout the series, where we'll tackle the sector's changes, and the tech that's driving FinTech's modern solutions.

As professionals in the FinTech world, we all know how fast-paced the sector moves - the FinTalk podcast is THE tool to stay at the cutting edge of the industry's freshest, most revolutionary developments.

Whether it's an insightful 1-to-1 with an expert in the field, or one of our panel episodes where guests share their collective wisdom and experience, you'll get the inside track on hot topics in the industry & regulatory issues, all through the lens of VERMEG’s sector-leading insights.

VERMEG has been proud to deliver innovative software solutions with stability & cost-efficiency for a global roster of clients. With over 20 years of trusted transformation in insurance & finance, we're bringing our team's expertise to the FinTalk podcast.

Every week you can expect a showcase of pressing topics in FinTech; we tackle the challenges & opportunities arising from the industry's biggest shifts, how to transform your business' trajectory, and ways to prepare yourself for the future of finance.

Learn more: https://www.vermeg.com/

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