Introducing RegTech Insight

RegTech Insight Category: People

Control Risks Makes Strategic Compliance Hire

Specialist risk consulting firm Control Risks has appointed John Lash as Principal in its Compliance, Forensics and Intelligence practice. Lash will be based in Washington DC and is an expert on cross-border M&A. His hire will assist Control Risks to manage global trade compliance capabilities at a time when its clients are facing evolving and increasing regulatory requirements and enforcement scrutiny, especially in relation to requirements under the Committee on Foreign Investment in the United States (CFIUS) and new responsibilities under the Foreign Investment Risk Review Modernization Act (FIRRMA) introduced in late 2018.

BNP Paribas Seeks RegTech Lead

BNP Paribas is advertising for a RegTech consultant, based in Paris, to support its Corporate and Institutional Banking (CIB) division in all projects relating to the digital transformation of their activities, with a focus on the needs of the trading desks. The hire will join the CIB Consulting RegTech Team, which is developing to support the structural changes and transforming projects of CIB.

NuBox Hires New CTO

Pablo Vittori has joined NuBox, the biggest provider of small business financial software-as-a-service (SaaS) in Latin America. Vittori will spearhead the firm’s next expansion phase, focusing on big data, artificial intelligence and machine learning. Before joining NUBOX, Pablo worked as a CTO On Demand, helping companies around Latin America reshape their digital teams, implement processes to improve digital literacy and become more agile. In this capacity, Pablo served several leading Latin American technology companies, including Inclusion.cloud, Making Sense, URG Urgencias Medicas, Grupo OSDE, The Colony and COR Technologies.

BearingPoint Seeks New Consultant

Global management and technology consulting firm BearingPoint, which offers RegTech solutions including SFTR and MiFID II reporting compliance, is looking for a new Junior RegTech Consultant to implement and advise on its financial services solution for supervisory and regulatory reporting solution, ABACUS.

RegTech Insight – Keeping Your Finger on the Regulatory Pulse

Welcome to Regtech Insight (RTI), a brand-new platform from A-Team Group bringing you the very latest in news, insights and exclusive analysis from the complex and fast-changing world of regulatory technology.

Forming the third pillar of our comprehensive information service, RTI stands alongside Data Management Insight (DMI) and Trading Technology Insight (TTI) to offer a fresh new perspective on how data and technology at financial institutions are impacted by the evolving regulatory landscape.

The financial markets have changed beyond recognition in the decade since the financial crisis, and as regulators tighten up controls, the cost of compliance is becoming increasingly heavy. RTI explores how both new and existing regulations (such as MiFID II, FRTB, GDPR, MAD/MAR, KYC, AML and many more) are informing the evolution of key processes such as compliance, client onboarding, financial crime and data privacy. We explore just what is needed in order to stay abreast of these constantly changing requirements and investigate how new and innovative solutions from upcoming and established vendors can help address these challenges.

As an RTI member, you can stay up to date on the very latest industry news, learn about the top performers in the RegTech space, check out what your competitors are doing (and how they are doing it), track the regulations relevant to your business and stay on top of key implementation deadlines. RTI will help you figure out what processes you need to establish to handle specific regulatory challenges, how best practices can inform and improve your compliance processes, what pitfalls to avoid when applying new technology solutions, where to find the most innovation new solutions, and how to execute them with minimum risk.

As well as reading all the latest news and views on RegTech in this dedicated section of the website, you can sign up for or listen to topical webinars, download handbooks and special reports written by our subject experts, and access the wealth of blogs, white papers and conference reports we have shared with you since A-Team first launched almost two decades ago.

You can also find information here about our established RegTech Summits, held annually in London and New York, which offer you a unique opportunity to hear from the cream of the crop in the RegTech space, network with the best and brightest, identify the latest trends and find answers to all of your regulatory questions and concerns.

You can sign up here to receive our weekly RTI newsletters and other content updates, and to receive invites for forthcoming webinars and events. The winners of our highly prized RegTech Awards will be announced in early May, and our next RegTech Summit is coming up in London in October 2019 – I look forward to meeting you there.

The Road to Success: Wolters Kluwer’s Claudio Salinardi

What makes a business chief tick? How did they get to where they are today, and what bumps did they experience along the way? We speak to Claudio Salinardi, Executive Vice President & General Manager of Wolters Kluwer’s Finance, Risk & Reporting business, to find out…

1. What was your journey to becoming General Manager – how did you arrive here and what were your original career aspirations?

Just after completing my Master’s degree in Economics at The University of Kent, I moved to London to look for a job and readily admit I wasn’t entirely sure what I wanted to do.

Starting with my first role at JP Morgan, and throughout my career, however, I have been certain of one thing. And that’s the absolute necessity of giving 100% to the task at hand, realizing that every role and every day is part of a learning experience.

This has, I hope, helped me to earn the trust of colleagues and managers alike, ultimately leading to career progression.

I have also been driven by a deeper sense of purpose, apart from a desire for financial success, striving to build high quality products that fulfil and exceed client and industry requirements. I take great pride in being part of and leading highly performing teams that firmly set their sights on achieving client satisfaction.

2. What are your favourite parts of your job?

My favourite part of my role is undoubtedly building and developing teams.

Being able to identify the best talents and help them get to the next level is what the job at this level is all about.

It is extremely rewarding to see people achieve more than they thought possible and we achieve this by building a company culture that works.

Ultimately it’s my responsibility to ensure that we are fostering career development, recognizing and rewarding excellence and innovation. And I take that responsibility seriously.

3. And your least favourite?

The administrative tasks, whilst vital for the smooth running of any operation, are, if I’m honest, somewhat tedious on occasion!

4. Describe a typical working day.

When not travelling to see clients or colleagues in our locations outside London, I start my working day cycling from North London to my office in Canary Wharf. And it really is a fantastic way to get the blood pumping, setting me up for the day!

I am normally at my desk quite early which allows me to catch up on industry news, as well as the overnight e-mails that have come in from colleagues in the US and APAC.

Checking in with the team and assessing various project progress is the next step. And this is absolutely vital since it allows me to assist with any issues and get a real handle on how we are progressing against our goals.

Throughout the day I am also eager to speak with clients and update them on our progress, ensuring they are satisfied with our team, our products and services. It’s always important to have that direct client contact.

5. What are the biggest challenges you face in your current role?

I have been in my role since May 2018 so the challenges are around mastering new processes and procedures and getting to know Wolters Kluwer’s global leadership team.

As I said previously I view every day as part of a learning experience and I’d be lying if I said it all just clicks on day one when you take on a leadership position.

It takes patience and an acceptance that we need to work collaboratively, focusing on ensuring the team continues to build high quality products to meet client requirements.

6. What are your top three career highlights?

Although it’s tempting to say my current role, given the scale of the business and the direct impact our integrated regulatory compliance and reporting solutions have for clients, I realise you are probably after some succinct examples from my past lives!

So I’d start by saying that time at JP Morgan was incredibly formative. The investment the firm made in me, spending hours training me, and providing me with the tools I needed to propel my career forward, was what really set me on my career path.

A second highlight was stewarding Thomson Reuters’ Fixed Income business globally, working to ensure we became a credible competitor through the creation of highly valuable assets into the main desktop product.

And if I have to choose just one more example I’d say my time at Interactive Data Corporation demonstrated the direct impact building highly performing teams can have. When I joined in 2014 revenue growth for the EMEA Pricing and Reference Data (PRD) product was flat and when I left the team was enjoying a far healthier growth rate that had increased to high single digits, an all-time-high.

7. What’s the number 1 problem you solve for your clients?

Wolters Kluwer’s Finance, Risk and Reporting business has one overarching objective: Our integrated regulatory compliance and reporting solutions support regulated financial institutions in meeting their obligations to external regulators and their own boards of directors.

8. What are your top concerns for the next 12 months?

Like many leaders operating in London and beyond I continue to be concerned about Brexit, and the impact the uncertainty has for the UK’s financial services industry.

Again, like so many others, I am also concerned about the increasingly complex regulatory environment globally.

I believe RegTech will play an increasingly influential role in supporting financial institutions who want to lay foundations for economies of scale across data, analytics, functions, and related risks.

Ultimately though these regulatory concerns can be transformed into opportunities.

As banks continue to address the ever increasing complexity and granularity of national and global reporting requirements, RegTech allows them the agility to adopt an integrated approach to finance, risk and regulatory reporting. The banks that adopt this integrated approach will become highly competitive businesses that have greater command of their commercial and supervisory environments.

9. What decision that you’ve made has had the biggest positive impact on your company?

In November 2018 we announced the realignment of our core content, platform and product management functions in a way that leverages the strength of our wider firm to position our business unit to innovate with greater speed, efficiency and capability in a fast-changing world. The re-alignment secures an immediate partnership with Wolters Kluwer’s global platform, and Compliance Centre of Excellence organisation.

Since joining Wolters Kluwer, I have been assessing capabilities that could help us advance our strategy and execute more quickly, more efficiently and with greater excellence.

We will leverage the experience, tools, and processes of these broader communities of experts to improve the quality and speed of our unique Regulatory Update Service that actively monitors regulation in approximately 30 countries.

Notably, we will drive innovation across our Finance, Risk and Reporting platforms and accelerate the development of new solutions. These changes will enable us to take our capabilities to the next level and deliver superior, innovative and market-leading products that are the “must have” high quality products that our clients deserve and require.

10. Who is your business hero and why?

As a long time student of the business world there are plenty of impressive men and women in the business world to choose from. But one that springs to mind today is Elon Musk. And I highlight him for his entrepreneurship and unique outlook.

He could have retired after PayPal was sold but instead decided to focus on solving bigger problems faced by society at large.

That’s an incredibly refreshing outlook and whether he succeeds with his various projects or not, or whether you approve of his business style or not, is not really the point. It’s that desire to have an impact which is truly inspirational.

Refinitiv Names Sherry Madera as Global Head of Industry and Government Affairs

Refinitiv has named Sherry Madera as global head of industry and government affairs with a view to enhancing its engagement across government, policy initiatives, industry trends and regulatory developments. Madera joins Refinitiv from the City of London Corporation and has over 20 years’ experience across both the public and private sectors, including corporate finance, banking, asset management and, more recently, global policy leadership and advocacy in financial and professional services. At Refinitiv, Madera and her team will engage with customers, industry groups, regulators and governments to help tackle key customer challenges and advocate for fair, efficient and sustainable financial markets.

RegTek.Solutions Hires ex-IHS Markit Exec Chris Cornish to Strengthen SFTR team

RegTek.Solutions has hired Chris Cornish as a consultant business analyst based in London. He joins from IHS Markit where he was a senior business analyst and a Securities Financing Transaction Regulation (SFTR) specialist. He was previously at ICBC Standard Bank, where he worked on SFTR implementation. At RegTek.Solutions, Cornish will focus on Validate.Trade, a product used by banks and asset managers to monitor the quality of reporting data, with a view to adding SFTR reporting quality assurance.

Accuity Promotes David Wilson to Role of MD and CEO

Accuity has promoted David Wilson to the role of managing director and CEO with responsibility to deliver innovative solutions for payments, risk and compliance, develop strategic partnerships, and deliver high quality client service. He steps up to the role after 18 months as chief operating officer (COO) at the provider of financial crime compliance, payments and Know Your Customer (KYC) solutions.

Wilson replaces former CEO and president Hugh Jones, who moves on to become a global managing director of Accuity’s parent company RELX Group, with ongoing oversight of Accuity. Also promoted is Tom Golding, who steps into the COO role.

Andreas Shneble Joins IDNow

Andreas Shneble has joined German KYC specialist IDNow as Head of Marketing. Based in Munich, IDNow combines AI, facial recognition and machine learning to deliver instant identity verification through its KYC platform, in compliance with EU-wide regulations. Schneble joins from Rocket Media House, an advisory firm he founded in 2016. He was previously Director of Digital Marketing at Digitas, part of the Publicis Media Group, and before that was Global Head of Digital at G Data Software. He holds a degree in Business Administration from San Francisco State University.