JRS Asset Management – Regulatory Reporting is a team effort

JRS Asset Management is a Swedish securities company, acting under Swedish FSA supervision, that manages assets belonging to both individuals and companies, and was founded in 2007. Due to their business expanding, JRS felt their workload increased greatly, and turned to FCG, now Advisense, for support with their regulatory reporting. The partnership has resulted in reduced key person dependence, more time to focus on their core business, and a great deal of safety in that the reporting is always handled in accordance with the latest regulatory requirements.

The Challenge

The key stakeholders responsible for the regulatory reporting at JRS Asset Management previously had a large number of different tasks, resulting in a heavy workload, affecting their ability to focus on their main assignments. JRS has successfully expanded in the last years, with many new customers and assignments – which has also contributed to the risk of insufficient time for regulatory reporting. JRS Asset Management has previously been hesitant to let another party manage their regulatory reporting and they have, consequently been forced to spend internal time keeping the reporting up to date with current and new regulatory requirements.

“I have a large number of tasks under my responsibility, of which the reporting was one. Staying up to date on the latest requirements and the correct formatting of reporting can be difficult when there is a lot to do. There is also a key person dependency that can be risky for our business. ”

Marie Berntson, Business Controller JRS Asset Management

The Solution

In collaboration with FCG’s experts in regulatory reporting, the company’s needs, products and future challenges are mapped. We jointly review existing reports and explore any discrepancies. Then, a simulation of the regulatory reporting is performed, where both the customer and FCG report the same period. Any differences in reports are investigated and discussed together with other possible prior information, and finally FCG takes over the reporting.

The only information the customer needs to provide FCG with is a Balance Sheet and Income Statement, as well as any other supplementary information. FCG’s developed processes and rigorous regulatory expertise ensure that the reporting is handled in a timely manner and meets the highest standards and requirements from the FSA.

We frequently update the customer on major regulatory updates, and meet to discuss any impact on the company’s reporting. We can also help our customers calculate which capital requirements the company will be affected by the following year, in order to be able to decide how much dividends the company may offer to its shareholders.

“FCG made sure to help us, always ready with the team we need to interpret, sort out and report correctly to the FSA. We are very happy to feel safe with the solution FCG offered us”

Marie Berntson, Business Controller JRS Asset Management

The Results

JRS Asset Management has experienced a drastic reduction in key person dependencies as a result of the collaboration with FCG and our regulatory reporting experts. They can now focus on their core business, adding value to their customers. Meanwhile, they are confident that their reporting, a very important part of the supervisory work from Finansinspektionen, is handled in a correct and high-quality manner. JRS is also kept up to date on regulatory changes, and can safely continue with their expansion journey, reassured that FCG guarantees leading quality in regulatory reporting.

“With FCG, we have now greatly reduced our key person dependencies, we are on time with reporting, and we always feel confident with the quality!”

Marie Berntson, Business Controller JRS Asset Management