Using robots to make finance reporting efficient and timely

New in-house solution, using robotics.

Country Exposure return is an important quarterly regulatory return which helps the regulator (in this case, Bank of England) understand the exposure of the Bank to various counter parties/ countries/ sectors and its position from a Global – systemically important banks (G-SIB) perspective, which in-turn defines the capital requirement for the Bank. The return preparation is manually intensive with many steps being repetitive and non-discretionary in nature.

To handle this a cross-finance team comprising colleagues from Financial Control, Process Transformation and the Robotics Centre of Excellence has developed an in-house solution. The Robot performs all the manual intensive pieces, allowing the analyst to focus more on other value adding activities.

As a result, the Year End Country Exposure process has become more efficient and effective with reduced turnaround time and strengthened controls. It has also enabled the team to work on new initiatives and projects.