EMIR Trade Reporting for UK-based Global Asset Manager
Risk Management Consulting
 
 
Xcina Case Study

EMIR Trade Reporting for UK-based Global Asset Manager

The client

UK Based Global Asset Manager

The work

Our client engaged us to conduct an end to end review of their European Market Infrastructure Regulation on derivatives, central counterparties and trade repositories (EMIR) Trade Reporting function and governance. The existing operating model didn’t deliver the submissions for the full universe of their derivatives trading to the trade repository, and the client was struggling to accurately identify what hadn’t been reported, how to remediate the failures, and how to gauge their level of regulatory compliance. No one person or team could describe the whole operating model and as a result, no one had the comprehensive oversight to be able to analyse and identify the flaws in the operating model. The assignment involved performing an independent review of the infrastructure, operating models, technology, policies, processes, roles and responsibilities and governance.

How we helped

We interviewed all stakeholders and participants individually to determine their role in the process and their opinion of its effectiveness. All existing policy and process documentation were reviewed and the gaps identified. Data architects and IT developers were interviewed and we pieced together a comprehensive dataflow map to assist the client in identifying where data drop outs were occurring. We analysed both the governance over the process and the roles and responsibilities and made recommendations for comprehensive changes. By the end of the assignment we were able to present a Key Findings document and a Risks and Controls Matrix to senior stakeholders which listed all of the inherent risks involved in the process, the mitigating controls, how effective the client was in executing those controls and recommendations on remedial actions.

Value added

Xcina’s operational, technical and regulatory knowledge skills, and experience enabled us to provide a completely independent assessment of the issues in the client’s end to end operating model, bringing into sharp focus key themes for senior management, providing them with a platform to implement a robust process.

Industry and sector:

Financial Services

Solutions and service area:

What our clients say

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do. "

Getac Technology Corp, Legal Affairs Center

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do."

ParkMobileUK, Managing Director

"Xcina Consulting performed an annual review of our card data environment, and ensured that we are compliant with the PCI-DSS. We continue to work with their experienced QSAs, leveraging their guidance and best practices so we have the highest possible level of security controls in place."

DKB Brands, Data Protection Officer

"Xcina really helped us to kick start our data protection compliance process. They took the time to speak to all departments of the business and outlined our highest risk to lowest risk areas. The insight and guidance they provided was essential for our business to become GDPR compliant."

Portman Settled Estates Limited, Estate Secretary

"Xcina’s ongoing support has ensured that our employees feel confident when dealing with data protection matters, with best practice knowledge and expertise from consultants who have taken the time to get to know our business and our industry."

National Bank of Kuwait, Compliance Officer

"Xcina worked with us on a number of data protection matters, including subject access requests and gave helpful, practical advice which reflected their understanding of technology issues as well as legal matters."

Your World Recruitment, Group IT Director

"We have worked with with Xcina successfully for two years, initially on internal GDPR GAP analysis. We now have them engaged as our ‘Virtual DPO’ provider and regularly receive useful, pragmatic and, more importantly, actionable advice on all areas of Data Protection."

Quadrangle Research, Group Chief Operating Officer

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