New requirements imposed on US banks by the Federal Reserve Bank for the annual, quarterly and monthly delivery of Stress Test results have increased the burden on bank’s operating environments and their resources.
IMX develops and supports the stressrep™ application toolset created to help banks cost-effectively meet their obligations for Comprehensive Capital Analysis and Review (CCAR) and Dodds-Frank Act Stress Test (DFAST) Reporting. Through automation stressrep™ reduces the burden of stress testing data collection, validation, translation and reporting, improving team productivity and reporting accuracy.
Improving the process of collecting, validating and proofing stress data has become a complex and high risk function that must be repeated on a regular basis. The development of an optimised, integrated and automated process has become a real imperative for most firms in order to reduce risk and deliver an efficient and repeatable Stress Testing routine.
Working in conjunction with Holley Holland, business transformation experts with extensive experience of process improvement, process automation and regulatory change, the new stressrep™ toolset is an example of efficiency and control through automation. stressrep™ supports the optimisation of reporting processes through automation that embeds stress reporting controls and workflows to achieve maximum productivity during limited reporting windows.
stressrep™ provides a toolset from an enterprise grade Microsoft-certified Gold Developer that reduces the burden of data collection, validation, translation and reporting and releases key resources to concentrate on valuable analytical work. A Windows client application, stressrep™ is easily installed and accessible via your business desktop. Once launched, the application will communicate with the stressrep™cloud server to approve logins and capture the latest relevant FRB information. Sensitive stress test data never leaves the bank’s network and is securely stored on the local client.
For more information on stressrep™, click here.