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JTC Introduces Enhanced Outsourced Financial and Regulatory Reporting Services

17th Jun 2024

FTSE-250 listed service provider, JTC, has rolled out an enhanced proposition that supports family offices, trust companies and other organisations with their increasingly complex financial and regulatory reporting obligations.

The launch of JTC’s Outsourced Financial and Regulatory Reporting Services brings together knowledge from across the JTC Group to deliver a more streamlined, cohesive and joined-up offering. Drawing on JTC’s broad multijurisdictional expertise, the offering has been launched to meet the needs of clients against a backdrop of rapidly evolving reporting and compliance requirements.

The new service will encompass a broad spectrum of outsourced financial reporting services, including the preparation of financial statements, bank account reconciliation and valuation summaries, as well as bookkeeping.

Clients will also be able to engage JTC’s highly experienced regulatory reporting team through the new proposition, spanning the preparation and submission of FATCA and CRS documentation, economic substance reviews and tax compliance services.

Commenting on the initiative, Charles-Henry Courtois, Regional Head of AMEA within JTC’s Private Client Services (PCS) division, said:

“JTC has been offering a comprehensive range of outsourced services to clients for some time, but the landscape has changed considerably with increased regulations. Businesses and family offices are now facing the challenge of balancing time constraints, resourcing and risk management, while maintaining a focus on their core competencies.

“To overcome this, we are seeing more and more clients reviewing and evolving their business models to ensure that they remain both agile and resilient in a highly competitive global market. Outsourcing is an ideal solution to that challenge. Supported by cutting-edge technology and our global specialist expertise, our enhanced outsourced services proposition means that we can help clients meet these goals, enabling them to achieve a lighter operating model, reduce costs, mitigate risk and remove the ongoing challenge of recruiting and retaining suitably qualified staff.”

Emma Menzies, Head of Tax Compliance and Regulatory Reporting, added:

“Requirements under the Automatic Exchange of Information regime have had a profound impact on financial organisations. Compliance is resource-intensive, and non-compliance presents significant risk. This has led to a growing trend for many businesses to seek alternative solutions. We have the expertise and resources to take on this burden, allowing our clients to focus on what’s most important to them.”

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