Opera Reporting

Investors and regulators place a high priority on risk disclosure and transparency. Open Protocol Enabling Risk Aggregation (OPERA) is a private sector initiative designed to improve transparency by offering a unified risk framework with consistent data inputs, standard calculation algorithms, and regular and timely reporting. By implementing OPERA, organizations can streamline risk management practices, gain comprehensive insights, and make more informed decisions based on accurate risk assessments.

When to Submit

OPERA reports are submitted to Albourne (an OPERA co-chair) and investors on a monthly or quarterly basis. OPERA reports have three degrees of granularity, referred to as Grade 1, 2, or 3. Grade 1 is the least detailed report and Grade 3 is the most detailed. Because OPERA is an open protocol, it standardizes reporting procedures for the collection, collation, and conveying of risk and exposure data, increasing overall transparency for investors.

OPERA Reporting Challenges

There are four big challenges asset managers and others typically experience with respect to OPERA reporting:

1. Data complexity: Dealing with data from multiple sources and formats can make the aggregation process complex and time-consuming.
2. Data inconsistency: Inconsistent data definitions and formats across systems can hinder accurate risk aggregation and analysis.
   
3. Regulatory compliance: Meeting regulatory requirements for risk reporting and disclosure can be challenging due to the complexities of aggregating and reporting accurate risk data.
4. Operational efficiency: Manual data collection and aggregation processes can be labor-intensive and prone to errors, affecting operational efficiency.

How IVP Can Help

The IVP Regulatory Reporting Solution can simplify and streamline OPERA reporting, delivering four important advantages:

• Data integration and transformation: The IVP Regulatory Reporting Solution seamlessly integrates with various data sources and automates the transformation process, ensuring standardized and consistent risk data for aggregation.
• Advanced analytics: With powerful analytics capabilities, the IVP Regulatory Reporting Solution enables comprehensive risk analysis, scenario modeling, and predictive analytics to enhance decision-making.
• Regulatory compliance: Our solution incorporates regulatory reporting templates and ensures compliance with OPERA risk reporting requirements, saving time and reducing the risk of non-compliance.
• Operational efficiency: By automating data collection, aggregation, and reporting processes, our solution streamlines operations, improves accuracy, and frees up resources for value-added activities.

OPERA Workflow

• Source position and performance data from prime brokers and fund administrators
• Enrich data with security and reference data
• Calculate exposure numbers and populate the form as mandated by Albourne
• Review the populated form, make edits, and approve the answers
• Capture all user actions in a detailed audit trail
• Generate XML and spreadsheet data that can be sent directly to Albourne and investors