In the context of Pillar 3 on public disclosure requirements and with the implementation of the regulation known as CRR 2, the bank is required to produce and publish every year a Pillar 3 report (annual and semi-annual versions). Avantage Reply was engaged to provide support and expertise in the Pillar 3 and CRR 2 regulatory requirements implementation.
The project was split into two work teams:
1. Production of the 2020 Pillar 3 report:
a. Ensure coordination between various stakeholders (e.g. risk, finance, treasury, HR, etc.) contributing to the production of the report
b. Validate the content (qualitative and quantitative) of the report prior to its publication
2. Production of the 2021 Pillar 3 report:
a. Outline and incorporate new regulatory requirements, as stated in CRR 2 for its annual and semi-annual reports
b. Ensure coordination between various stakeholders (e.g. risk, finance, treasury, HR, etc.) contributing to the production of the report
c. Validate the content (qualitative and quantitative) of the report(s) prior to their publication
Due to the COVID-19 crisis at the time of the engagement, the client adopted a “remote only” work structure with all of its employees working from home exclusively. This fact impeded the proper coordination and engagement required between the project manager and the supporting functions.
Avantage Reply provided one full-time resource who led the project along with coordination of the Pillar 3 development and drafting. The senior consultant provided the necessary technical and industry market practices by developing custom made solutions to implement the necessary requirements. The final delivery consisted of: