NEW YORK--(BUSINESS WIRE)--AxiomSL, the leader for risk data management and regulatory reporting technology for financial services, announces that it will provide an array of broker dealer (BD) and bank holding company (BHC) data aggregation and reporting solutions to Raymond James, the St. Petersburg, Fl.-based diversified financial services firm.
The partnership with AxiomSL grew out of a goal from Raymond James’ larger enterprise data strategy to automate the existing, largely manual processes and tactical functions which were straining under increasing regulatory reporting requirements.
The wide-ranging coverage will include Daily Net Capital (15c3-1) and Customer Reserve (15c3-3) calculations, along with TIC (Treasury International Capital) and FOCUS reports for the BD. In addition, the BHC will be integrating several reports for the Federal Reserve’s FR Y-9C, Call reports, and Basel Risk-Weighted Asset (RWA) calculations.
“As part of our larger goal of data management transformation, Raymond James was looking for a strategic technology partner that could help with a significant portion of our critical reporting,” says David Lesser, senior vice president of technology at Raymond James. “AxiomSL’s expertise working with complex, diversified institutions and ability to implement these solutions over a number of years was exactly what we were looking for.”
Adds Alex Tsigutkin, CEO at AxiomSL: “Today, broker dealer firms like Raymond James are looking to reengineer their reporting function in their efforts to keep up with new prudential regulation demands and as part of broader institutional automation. We are very pleased to work with such a well-respected firm as Raymond James and look forward to providing these solutions for them in the years to come to meet new and evolving regulatory mandates.”
The AxiomSL change management platform enables firms to address quickly and seamlessly internal and external changes while achieving data lineage, risk aggregation, workflow automation, computation, validation and audit as well as disclosures in any format. Further, the AxiomSL’s visual business rules can be easily understood by users who do not have specialist-coding knowledge. These features give clients confidence in the automation of complex reporting business logic, data quality, governance and control in meeting stringent timeframes.
AxiomSL is the leading global provider of regulatory reporting, data and risk management solutions for financial services firms, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.
The AxiomSL platform for change seamlessly integrates clients’ source data from disparate systems and geographical locations without forcing data conversion. It enriches and validates the data, and runs it through risk and regulatory calculations to produce both internal and external reports. The platform supports disclosures in multiple formats, including XBRL. The unparalleled transparency offered by the high-performance platform gives users the ability to drill down on their data to any level of granularity.
AxiomSL’s platform supports compliance with a wide range of global and local regulations, including the Dodd-Frank Act - CCAR, Basel III capital and liquidity requirements, IFRS 9/CECL, FATCA/CRS, EMIR, FDSF, BCBS 239, Solvency II, AIFMD, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.
AxiomSL was awarded The Asian Banker’s 2016 “Best Compliance Risk
Technology Implementation of the Year” as well as “Best Implementation
at a Sell-side Firm” in the 2016 Sell-side Technology Awards. It was
voted Best Reporting System Provider in the 2015 Waters Rankings and was
highlighted as a ‘Category Leader’ by Chartis Research in its 2015
Sell-side Risk Management Technology report. The company’s work has also
been recognized through a number of other accolades, including success
in the Best Reporting Initiative category of the American Financial
Technology Awards and in the Customer Satisfaction section of the
Chartis RiskTech100 rankings.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,100 financial advisors serving in excess of 2.9 million client accounts in more than 2,800 locations throughout the United States, Canada and overseas. Total client assets are approximately $604 billion. Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF. Additional information is available at www.raymondjames.com.