Qomply Analysis of the Breakdown of Systemic Risk Controls Featured in Asset Servicing Times
Michelle Zak, co-founder and managing director at Qomply, analyses the collapse of US firm Archegos Capital Management, and how its US$10 billion loss in 2021 highlighted the need for the industry to increase the introduction of systemic risk controls in June's edition of Asset Servicing Times.
It could be argued that most notable systemic failures have been linked to a significant macro event, with market turbulence acting as a catalyst for correlated contagion. In the case of Archegos, the markets were calmer and quieter, suggesting this disaster was the result of a failure in systems and controls.
Read more here: Asset Servicing Times, June Edition
How Qomply can help
Qomply helps financial firms achieve accurate, compliant transaction reporting across global regulatory regimes, while streamlining the operational and audit demands of regulatory reporting.
Our proprietary technology combines AI, automation and advanced data analytics to deliver scalable, audit-ready reporting intelligence. Through forensic-level quality assurance and streamlined reconciliation, Qomply helps firms strengthen data quality and reporting accuracy, automate controls, simplify audit processes and lower overall reporting costs.
Our technology provides greater oversight and operational efficiency while reducing the demands on internal teams.
For firms seeking to outsource their regulatory reporting operations, Qomply also offers a fully managed service. Combining our technology with deep regulatory expertise, Qomply Managed Services operates as an extension of, or alternative to, an in-house reporting function. This flexible model enables firms to outsource reporting operations while retaining the option to bring activities in-house as their own capabilities and resources evolve.
MiFIR | EMIR | SFTR | CFTC | CSA | MAS | ASIC | HKMA
Purpose-built solutions and services for regulatory reporting
Designed to improve accuracy, reduce risk, and support confident transaction reporting.
