Designing Regulatory Risk Reporting Frameworks Using Automation Tools in Banking Sector Compliance
Year: 2024
Type: article
Abstract: In the evolving landscape of banking sector compliance, regulatory risk reporting has become increasingly complex due to heightened international standards and the proliferation of digital operations. This paper proposes a comprehensive framework for designing regulatory risk reporting systems leveraging automation tools to address persistent challenges such as data fragmentation, reporting delays, and human error. It systematically integrates core design principles including accuracy, transparency, timeliness, and traceability with automation technologies such as robotic process automation and artificial intelligence to enhance report generation, validation, and governance. The framework also embeds governance mechanisms aligned with established compliance models to ensure accountability and adaptability to regulatory changes. By bridging technological capabilities with regulatory expectations, the framework offers banks a strategic approach to modernize compliance functions while providing regulators enhanced oversight capabilities. The paper concludes by outlining future research directions focused on expanding automation’s role in ESG reporting, cross-border regulatory alignment, and ethical considerations in AI-driven compliance.
Institutions: Bank of America, Kwara State University
Language: English
Subfield: Industrial and Manufacturing Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4411119247