The financial sector will be affected for the long-term by a large number of legal rules that will have to be observed and implemented promptly. In view of the extensive regulations in the aftermath of the global financial crisis, the number of rules and standards at the European level will continue to increase. For institutions, dealing with the consequences of the deluge of new regulations comes at a high cost in terms of the personnel, budget and time resources required. That is why the SKS Group, in cooperation with VÖB-Service GmbH, has developed RADAR - a web-based regulatory information system.
RADAR offers firms of financial sector a comprehensive overview of the regulatory schemes that are planned, as well as of the specific measures that have to be implemented at the EU, national and supranational levels. It thus provides a monitoring/warning system, which will enable you to respond to pending changes in the regulations in good time and even actively manage these.
RADAR also covers Austrian banking and banking supervision law and, since the beginning of 2018, the regulation of insurance and insurance supervision law.
More transparency and fewer expenses with RADAR
RADAR does not just provide you with the respective set of rules. In fact, it offers easy-to-understand summaries of their contents as well as an overview of all the main changes. Furthermore, RADAR can perform impact analyses on the organisational structure and the IT landscape of a sample bank. Such information will significantly reduce the effort and expense involved in evaluating, summarising and analysing the various regulatory requirements.
The perfect complement to RADAR is the Regulatory Workflow Center RWC. RWC offers the possibility of deriving topics and measures from the rules and standards, of entering your own guidelines and regulations, as well as tracking, managing and documenting their implementation.