Risk Management and Regulatory Risk Management are not the same!
There is substantial data overlap between these disciplines, though regulatory risk management follows more stringent requirements. Basel frameworks offer both standard approaches and internal model approaches (SA vs IMA), with IMA allowing firms to apply internal models that may better align with non-regulatory risk frameworks.
Expertise ranging from understanding the requirement and working with a compliance group, through to architecture, design and implementation to meet regulatory requirements.
An example of an innovative solution was in connection with SFTR reporting - which uses ISO 20022 XML for Repo and Security Lending transactions.
At the time, FpML.org had a trial recommendation for FpML 5.11 that supported Repo, but missing some attributes needed for ISO 20022. It also had no support for Security Lending. By working with FpML.org late in the release cycle, we were able to get significant Repo and Security Lending support. This allowed systems to publish FpML and have a regulatory platform transform to ISO 20022 rather than a separate, bespoke, publication for ISO 20022
The FpML announcement is at Fpml 5.11
which includes the following enhancements: