Manulife Bank of Canada has selected FRSGlobal, a global provider of risk and regulatory compliance solutions, to automate its regulatory reporting process, FRSGlobal announced on Tuesday.

FRSGlobal is working with Manulife Bank’s central project management advisory and IT finance divisions to implement the reporting platform. It expects to complete the project this month, in time for a parallel run of Manulife’s fourth quarter financial reporting needs.

The bank plans to fully transfer over to the automated platform by the first quarter of 2009.

“Canada’s banks are amongst the most forward thinking institutions in the world as they continue to adopt Basel II Capital Adequacy Reporting principles,” said Richard Ferrari, vice-president of the Americas at FRSGlobal.

“At a time when regulatory scrutiny will only assume greater significance in the financial industry, we look forward to working closely with the Manulife team to ensure their reporting requirements continue to be met.”

IE