Controls Implementation Overview
KOR follows a shared responsibility model for regulatory reporting controls. As part of this model, KOR provides clients with a comprehensive suite of tools designed to support the implementation of effective oversight, including rejection monitoring, exception reports, dashboards, and reconciliation capabilities. These tools are intended to assist and streamline the verification of reporting accuracy.
While KOR enables and facilitates control mechanisms, it remains the client’s responsibility to operationalize these tools—by running the applicable reports, performing reconciliations, and establishing internal processes to ensure the completeness and correctness of their regulatory submissions.
Please review the following articles around KOR’s controls to better understand the offering.
- What are KOR's Control Responsibilities?
- Ingestion Controls
- Eligibility Controls - Operations
- Operational Controls Handbook
- How do I manage Issues?
- Submission Controls
- What Validation Controls does KOR Implement?
- How to set up automated alerts?
- How do I monitor Metrics?
- How to monitor Static Data enrichments
- How to monitor Timeliness?
- How do I manage Notifications in KOR?
- Scheduling Workflows on KOR Reporting Services
Client Meeting Agenda: Deep Dive Session - Controls and Reconciliation
Who should attend the meeting
Client
- Regulatory Reporting SMEs
- Compliance
- Technology connecting to KOR
- Operations staff responsible for monitoring submissions
- Project Management
KOR
- Client Success
- Compliance
Note: This is a general list of topics covering various jurisdictions, asset classes, and client types. Some may not be applicable to you and can be skipped.
For clients onboarding multiple jurisdictions sequentially, it is beneficial to anticipate potential hurdles in future jurisdictions. However, each deep dive session will focus only on the jurisdictions currently in the implementation phase, with discussions on future jurisdictions deferred until their respective implementation begins.
Deep Dive: Controls and Reconciliation
General Instructions:
- Download the Controls and Reconciliation
- Export the sample document to a CSV file.
- Save the spreadsheet in the designated shared drive for centralized access.
- Populate the details to the best of your ability.
- Mark as N/A where a field is not applicable.
- List questions for discussion in our review meeting.
Next Steps:
- Populate the questionnaire.
- Submit any questions for discussion in our review meeting.
- KOR will review and provide best practice recommendations based on your responses.
- Client and KOR will review the Questionnaire on scheduled call