The Financial Sector Conduct Authority has published the presentations that were flighted during its virtual workshops on the OMNI-Risk Return this month.
The OMNI-Risk Return, which replaces earlier plans for a Conduct of Business Return (OMNI-CBR), is a reporting tool, to collect standardised conduct-related data from financial institutions across various sectors.
The objective of the Return is to provide the FSCA with “a consistent, data-informed, and comparable view” of the risk exposure of all the financial institutions it supervises.
The OMNI-Risk Return is structured around 12 broad risk categories or sections. Each section is designed to capture a distinct dimension of a financial institution’s operating environment, governance arrangements, and risk exposure.
The recordings of the three workshops, each one focusing on specific sections of the Return, are available on the FSCA’s YouTube channel:
The presentations for each workshop can be downloaded from the OMNI-Risk Return section on the FSCA’s website.
The FSCA has also posted a recording of a webinar that provides high-level overview of the Return. The video covers the background, context, and objectives of the Return, as well details of the consultation process and other engagement activities.
Financial institutions are encouraged to watch the videos, work through the draft Risk Return, and submit comments by the deadline of 30 November. The feedback received by the FSCA during the consultation process will shape the outcome of the final Return.
Read: FSCA opens consultation on draft OMNI-Risk Return
