Revolutionising regulatory compliance and operational efficiency with our game-changing Regulatory Outputs solution

BACKGROUND  

Rathbones Asset Management (RAM) is a part of Rathbones Group Plc – a leading provider of individual wealth management, asset management and related services to private clients, charities, trustees and professional partners. As the business grew, it faced more challenges in ensuring efficient compliance with evolving regulatory requirements. Adapting to frequent regulatory changes placed the timely and accurate production and distribution of documents such as PRIIPs KID, UCITS KIID, TCFD, EMT and EPT, under strain. RAM swiftly recognised this issue and wanted to rectify it as soon as possible.

OBJECTIVES    

RAM wanted to achieve the following objectives to ensure regulatory obligations were met within a robust framework and reduced timelines:

• Compliant reporting 
• Operational efficiency 
• Transparency & control 
• Consolidation of vendors 
• Time savings 
• Data quality & consistency 
• Risk mitigation 
• Reliable service

 
ACHIEVEMENTS  

Despite aggressive deadlines, FE fundinfo successfully onboarded RAM on their new, comprehensive regulatory document production and distribution service, facilitating several positive outcomes including: 

Striving towards a strategic goal of providing consistent data and document dissemination to third parties. 

Operational efficiency and automation thanks to significantly reduced manual processes and increased automation, leading to minimised errors, improved efficiency and reduced operational risks.  

Data quality & consistency achieved through robust checks and processes in place enhanced by audit trails across multiple processes. Utilising FE fundinfo’s streamlined data process to produce all the required outputs ensured consistent and accurate copy sharing with regulators and third party vendors. 

Risk reduction through using highly verified, consistent and accurate data across outputs and automating the production and dissemination process. Eliminating the need for teams to check documents and data points repeatedly, resulting in timely delivery to the market. 

Time savings achieved through implementing a new automated workflow model, reducing the need for excessive manual processes and reviews. 

Increased control with dashboards allowed RAM to access and oversee the process and, where required, make quick, independent changes to documents, reducing turnaround times and giving them more control over the process. 

Consolidation of third-party vendors helped RAM improve cost management and operational efficiency by leveraging an existing relationship and adding to their existing FE fundinfo product stack, further simplifying the regulatory reporting process spanning document creation through filing and dissemination. 

High-quality delivery despite compressed timelines resulting in successful completion of the onboarding and document creation project over a seven-month time span, whilst meeting deadlines and maintaining high-quality delivery, thanks to effective processes and team collaboration.