Reference

Future-proof alignment of the regulatory reporting organization

Volksbank Wien is the central organization of the Austrian cooperative banks grouped together in the Association of Volksbanks. Among other things, Volksbank Wien is responsible in this role for creating regulatory reports on a consolidated level. To continue to meet regulatory requirements, which are growing in size and complexity, zeb was assigned the task of reviewing the organizational setup of the regulatory reporting unit.

After analyzing the current reporting processes, the project team defined optimization measures for further stabilization of the regulatory reporting capability. For medium-term sustainability, the team derived an organizational target image for 2020, taking the internal and external framework conditions into account.

1. Systematic:
implementation

Besides documenting the current regulatory reporting processes, the project team identified weaknesses and threats together with the responsible process leads during interview-based workshops. These then formed the basis for defining short-term stabilization and optimization measures. Based on comparable project experiences and comprehensive knowledge of the internal structures and systems, the zeb project team acted as a moderator, a driving force and a subject-matter expert.

The generally expected additional requirements from the supervisory authorities and the structural changes required due to the implementation of the joint data model (GMP) in Austria were considered in the development of the organizational target image for 2020. The changes planned within the Association of Volkbanks were also considered, most notably the structural changes brought about by the consolidation of the Volksbank sector and the IT measures. In joint discussions with departmental and divisional managers as well as the management board, the zeb project team specified the target image dimensions of processes, functions, skills and IT infrastructure. During this process, the holistic view of the future regulatory reporting organization was always in focus (see figure 1).

2. Effective:
results

Focusing on measures in the existing technical and organizational setup that have a short-term effect made a major contribution to stabilizing the current regulatory reporting processes. This approach has led to dramatic reductions of operational risks (e.g. through revised process documentation) and increases in the efficiency of processes (e.g. by assigning responsibilities for data).

The target image for 2020 is aligned across all relevant dimensions and serves as a common thread in the implementation of an efficient regulatory reporting organization.

Besides the required organizational and operational changes, necessary employee capacities are quantified according to skills. Personnel development measures are to be aligned accordingly in order to have the right team on board for future challenges in regulatory reporting.

Analysis and result model

3. Future-proof:
outlook and conclusion

zeb supported the process documentation with the operational process overview and documentation according to BPMN standards. The quality-assured result documents are available in the in-house process repository for ongoing maintenance by the internal business partners. This ensures an efficient and ongoing optimized process management for Volksbank Wien.

The short-term measures developed allow a further stabilization of regulatory reporting processes and subsequently an unburdening of staff. This creates urgently required capacity for pending project tasks.

The target image for 2020 establishes transparency about the necessary needs for change in order to prepare the regulatory reporting organization of Volksbank Wien for future challenges as early as possible. Structures, processes and employees can thus be developed in a targeted manner.