Phil Kim, senior vice president, global head of ESG product, State Street, claims that technology can meet regulatory requirements.
As part of its coverage of Sibos 2022 in Amsterdam, Funds Europe has reached out to financial experts on key topics at the conference. Read more analysis here.
Can you highlight a piece of regulation at the European level that is most impactful for asset managers in terms of their technology governance or development?
“SFDR has clearly been the most impactful, as firms need to ensure they are sufficiently meeting regulatory requirements in a robust and comprehensive manner. It is critical to have the right approach to technology: This is a massive data management and mapping exercise not to be taken lightly.
“From ensuring comprehensive fund look through to the proper mapping of securities to relevant ESG metrics, firms need to have the right infrastructure in place.
“If the data is not organized and integrated in a way that can be easily accessible and aggregated, the process of producing these reports becomes entirely too cumbersome, inefficient, and costly.
“With the right data platform, organizations can scale this reporting by leveraging the wealth of ESG data they have across one or many providers. Having the right tools to produce reports and dashboards is also critical, as building these at scale becomes more efficient when different reports and templates can be set up for various purposes and run for multiple portfolios”.
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