IRS Mandatory Bank Reporting-Providing Solution

Advantages of the solution delivered by Menas INC

The colleagues of Menas INC took part on several projects on the Hungarian market of financial services, so we believe that based on our experiences and know-how we can perform the tasks in time and in excellent quality.

Further advantages for our Clients:

• In the business policy of Menas Rt client satisfaction plays a key role, so we flexibly adapt to the features of the Client during the introduction.

• During establishing the connection between the IRS and the Bank's systems, we thrive to involve the Bank employees as little as possible. We do not require additional IT developments other than the establishment of the interface connections. The data content of the interfaces are defined by Menas Rt based on a survey at the Bank in a way that the Bank does not need to create or derive new data in addition to the existing data portfolio. All work phases of the report generating is automatic, thanks to that the bank employees' involvement in report provision is significantly reduced.Our solution guarantees the realisation of the coherence between the reports, further more it ensures the consistency between the data content of the Bank systems and the information forwarded to the Supervision Authority.

• In our IRS system the finalised version of the 2004 modifications are already updated. If the extension of the Banking activities requires creating new reports, our system can be extended quickly and flexibly.
• Full law observing and other supporting services can be ordered additionally for the IRS system.

Functionality of the Intelligent Reporting System® (IRS) report generating system

The IRS report generating system contains with all parameters the reports to be sent to the PSZÁF and to the MNB complying with the legal provisions regarding to the current year.

In the report generating module we can review the mandatory reports to be prepared by the Bank arranged into groups. Regarding each report we can realise the following report generating functions:...

Manual report running

In case of manual run it is possible to generate reports one by one. The system generates the report selected by the user for the selected value date. During this process the data of the report run are generated from the loaded base data by processing.

The report data generated during running the report are automatically exported into different printable formats by the IRS (Excel, HTML, Acrobat Reader defined by the supervision authority).

Automatic report running

Preparing the reports takes up a significant amount of time, so running most of the reports happens automatically beyond working hours. Automatic running may be executed in two ways in the IRS:

• event controlled automatic running (generation of the report is triggered by a source file or the completion of an other report)
• time controlled automatic running (automatically generated report prepared at defined time intervals).

Viewing the data obtained by running the reports, drilling

The data of the reports run for any period can be viewed - retrospectively - in the printable view format set for the given report.

Simultaneously the prepared reports can be viewed in the formats specified for the report tables containing the report data. In the views it is possible to sort among the report data, filtering as well as by "drilling" we can analyse the main data (e.g. based on general ledger numbers) from the report data having derived during the run. If a report has been prepared as a result of a multi-step processing, every phase can be traced by drilling.

Editing the report data

For the users having a proper right it is possible to perform through the views the necessary modifications, deletions and completions among the data of the prepared reports. The views are also assuring the manual entry of the data that can't be produced automatically.

The system does a full logging about the modifications performed in the prepared reports. The log content can be queried in the views on one hand referring to the data selected and on the other hand from the log menu where all the modifications can be viewed, filtered and traced through drilling.

Finalising the reports

If the data of the prepared reports are suitable, the entitled user finalises them through the report-preparing module platform. Following this the IRS stores the report data being current when finalising and exports them into the files with printable format. In the system it is assured that every version, being sent to the supervision authorities, can be traced in readable format only, within the period required by law.

If there are new modifications to be performed in the report already sent to the supervision, a new version is being formed compared to the sent one, in which the system follows the changes with modification monitoring. When finalising the new version the IRS stores the current data that can be accessed in read only format.

After finalising the reports, the function generating the text file becomes active with which the system saves the data content of the prepared reports into the text file required by the supervision authorities.

Handling the backdated transactions

During the operation of the banking report servicing it may happen that due to backdating the bank transactions the reports made from the changed base data have to be prepared again.

In this case one can repeat the loading of the base data into the IRS. Should the repeated data loading be time and energy consuming, then the IRS provides the changes to be made manually through the views established for the base data tables containing the base data.

After loading up the base data the concerned report can be run again. The version obtained as a result of the repeated run is being stored by the system for the later retrieval, that can be sent according to the above to the supervision authorities.

Version handling

In the IRS report-servicing system in order to ease the version handling we have introduced the use of the running day. The running day does not mean the date of the report preparation, it serves for administering the valid system version. Therefore it is possible to monitor the report versions deriving from modifying the report-servicing obligations, due to which the reports (in case of retrograde run, too) are always prepared in the format and with the content valid on the running day given by the user.

Checking the internal connections, identities

During the parameterisation of the Mandatory bank Reports module we have taken into consideration the validation lists published by the PSZÁF (State Financial Institutions Supervision) and MNB (National Bank of Hungary). The User is able to check the internal connections and identities being helped by the identity reports prepared by the IRS.

User's rights

The issues of the user's rights and monitoring the activity of certain users are of great importance at the bank systems. The IRS possesses a sophisticated right system with which we can define users and user groups separating from the perspective of rights. Elementary control functions can be assigned to the established right groups. The system operation can be fully tailor-made.

Manual data entry

If the data necessary for preparing the report can't be find in the Bank's systems or they can be obtained manually only, the system provides the manual input of these data. These data can be entered through the proper view depending on selection into the tables containing the base data or directly into the proper report. The subsequent error corrections following the data uploading can also be performed with the views.