Financial Services

Large Organization Modernizes Compliance Reporting with Automated Workflows

A Fortune 500 financial services organization was struggling with legacy compliance reporting systems that created bottlenecks, manual review processes, and compliance risks. By replacing their legacy system with Huddle portal and Smartsheet integration, they achieved automated compliance reporting and streamlined review workflows.

75%
Less Reporting Time
90%
Faster Reviews
100%
Audit Trail Auto
4 weeks
Implementation
Industry
Financial Services
Company Size
10,000+ employees
Scope
Global
Implementation
4 weeks

The Challenge: Legacy Systems Creating Compliance Risks

The organization faced potential regulatory fines, operational inefficiencies, and growing compliance workload that could not scale with business growth.

Critical Compliance Challenges:

  • Legacy reporting system requiring 40+ hours monthly for compliance reports
  • Manual review processes causing delays in regulatory submissions
  • Inconsistent audit trails across different compliance domains
  • No real-time visibility into compliance status across business units
  • Risk of regulatory violations due to delayed or incomplete reporting
  • Multiple disconnected systems requiring manual data reconciliation

Compliance Areas Automated

Risk Management

Daily/Monthly

Automated risk assessment reporting and monitoring

Capital Adequacy

Quarterly

Regulatory capital calculations and stress testing reports

Market Risk

Daily

Trading position monitoring and VaR reporting

Operational Risk

Monthly

Incident tracking and operational loss reporting

Liquidity Management

Monthly

Liquidity coverage ratio and funding stability reports

AML/BSA Compliance

Ongoing

Anti-money laundering monitoring and suspicious activity reporting

The Solution: Automated Compliance Portal with Smart Workflows

Implementation Approach:

  • 1Replaced legacy reporting system with Huddle compliance portal built on Smartsheet
  • 2Implemented automated data collection workflows from multiple business systems
  • 3Created smart review and approval workflows with configurable routing
  • 4Built real-time compliance dashboards for executive visibility
  • 5Established automated audit trail generation and retention
  • 6Integrated with existing compliance tools and regulatory submission systems

Key Platform Features:

Automated Data Collection

Real-time data feeds from multiple business systems automatically populate compliance reports

Eliminates manual entryReduces errorsReal-time updates

Smart Review Workflows

Configurable approval routing based on compliance domain, risk level, and business unit

Faster approvalsConsistent standardsAudit trail

Executive Dashboards

Real-time visibility into compliance status, risks, and performance metrics

Proactive managementRisk visibilityPerformance tracking

Regulatory Reporting

Automated generation of regulatory reports with built-in validation and submission tracking

Submission accuracyDeadline managementValidator compliance
Implementation Timeline

4-week phased implementation with parallel legacy system operation during transition

The Results: Transformed Compliance Operations

75%
Reduction in reporting time
From 40+ hours to 10 hours monthly
90%
Faster compliance reviews
Review cycles reduced from 2 weeks to 1-2 days
100%
Audit trail automation
Complete digital trail for all compliance activities
50%
Reduction in compliance risks
Proactive monitoring and automated alerts

Operational Impact:

Eliminated manual data entry and reconciliation processes
Real-time compliance status visibility across all business units
Automated regulatory submission preparation reducing errors by 95%
Standardized review workflows ensuring consistent compliance standards
Scalable platform supporting business expansion without compliance team growth
Improved regulatory examiner confidence with comprehensive audit trails

Implementation Journey

1
Week 1

Assessment & Design

  • Mapped existing compliance processes and data sources
  • Designed new automated workflows and approval hierarchies
  • Configured Smartsheet data structure for compliance requirements
2
Week 2

Portal Development & Integration

  • Built compliance portal with Huddle platform
  • Integrated data feeds from core business systems
  • Developed automated reporting templates and workflows
3
Week 3

Testing & Validation

  • Conducted parallel testing with legacy system
  • Validated regulatory report accuracy and completeness
  • Trained compliance team on new workflows and portal
4
Week 4

Go-Live & Transition

  • Migrated all active compliance processes to new platform
  • Decommissioned legacy systems and processes
  • Established ongoing monitoring and optimization procedures
"The automated review workflow and real-time compliance tracking have revolutionized our operations. We've transformed from reactive compliance management to proactive risk prevention, and our regulatory examiners have noted the improvement in our documentation and processes."
Chief Compliance Officer
Fortune 500 Financial Services Enterprise
15 years in financial services compliance, previously at two major investment banks

Technologies & Solutions Used

Huddle Portal PlatformSmartsheet EnterpriseWorkflow AutomationReal-time DashboardsAPI IntegrationsAudit Trail ManagementRegulatory Reporting

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