Lombard Risk appoints country manager for Australia and New Zealand
01 August 2017 | 2725 views | 0
Source: Lombard Risk
Lombard Risk Management plc (LSE: LRM), the leading, dedicated global provider of regulatory reporting and integrated collateral management solutions, is expanding its team in Australia and New Zealand as part of its growth strategy and in response to increasing demand for its Regulatory Technology (‘RegTech’) and collateral management solutions.
Demand in the region is in part being driven by The Australian Prudential Regulation Authority (APRA) overhauling its core regulatory reporting requirements for the first time in 15 years. As the world’s leading dedicated regulatory reporting and collateral management provider, with more than 300 clients globally, Lombard Risk is seeing strong demand for its solutions from Australia’s Authorised Deposit-Taking Institutions (ADIs), which comprise banks, building societies and credit unions, as well as other financial service institutions in the region. As companies look to meet the new and increasingly complex regulations, Lombard Risk’s established technology will be highly beneficial to Australasian organisations.
As part of the company’s expansion in Australasia, Colm Gaughran, CFA, will take the role of Country Manager of Australia and New Zealand. Colm will be based in Sydney, and will lead the ongoing expansion of Lombard Risk’s RegTech solutions, which includes the world’s market leading solution in the GRC (Governance, Regulation and Compliance) space: AgileREPORTER® (for regulatory reporting). Lombard Risk will also provide its award-winning solution COLLINE®  (for collateral management) to the region.
Colm is a senior investment professional with over 20 years of experience covering buy- and sell-side firms, in the areas of risk, derivatives, collateral management and regulatory compliance. Colm joined Lombard Risk in 2016 and was previously global head of collateral management product at JPMorgan. He brings extensive experience in the APAC markets to his new role.
Lombard Risk has built a strong position in Australia by developing its APRA Solution to enable Australian banks to automate regulatory reporting, ensuring compliance with the ongoing stream of new APRA requirements including the Economic Financial Statistics overhaul (EFS). The cloud-enabled solution simplifies data interfacing. It includes full automation of the reporting process with XBRL submission of the mandated returns to APRA, and integrates with Oracle Financial Services Analytical Applications (OFSAA) creating a single solution for end-to-end regulatory reporting. The integration allows banks to achieve a comprehensive view of risk exposures across business lines and meet new requirements for data accuracy and governance from APRA (ARS 702.0).
Alastair Brown, Chief Executive Officer, Lombard Risk said: “Lombard Risk has consolidated its position as the world’s leading dedicated provider of integrated regulatory reporting and collateral management solutions. Increasingly, financial institutions need to work with a trusted and experienced supplier to ensure they meet changing regulatory requirements, and must also maximise their liquidity through collateral optimisation. We are seeing increasing uptake of the Lombard Risk AgileREPORTER® solution for regulatory reporting, and COLLINE® and AgileCOLLATERAL solutions for collateral management in the APAC region, and are expanding our presence in Australia and New Zealand to better support this market demand.”
Alastair Brown continues: “Australia and New Zealand are strategically important to our global growth and as part of the expansion we are building a team of talented people to work in the region. We are delighted that Colm will bring his vast experience and knowledge to lead the next phase of our development.”
Colm Gaughran, Country Manager for Australia and New Zealand, Lombard Risk said: “I am thrilled to join the Lombard Risk team in Australia and New Zealand. Lombard Risk has a strong reputation in the industry, and is the leading dedicated global provider of regulatory reporting and collateral management solutions. I look forward to delivering continued success, and to driving the next phase of growth.”