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Risk Management

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RISK-MANAGEMENT TECHNOLOGY

* Meridien finds that in order to comply with new requirements, financial services firms need to enhance risk-management systems to support operational- and credit-risk initiatives. * Daishin Securities selects Kamakura's Kamakura Risk Manager-VaR for its market risk analysis. * The Professional Risk Managers' International Association forms a new regional chapter in Venezuela.

A new report from Meridien Research finds that in order to comply with new regulatory requirements proposed by the Bank for International Settlements, financial services firms will need to enhance their risk-management systems to support both operational- and credit-risk initiatives. The report, "Economic and Regulatory Capital Converge: Risk Systems Challenged" outlines the early steps that firms must take in order to move forward with their risk programs. More specifically, the report advises firms to begin the search for risk-related systems and data, as well as planning an integration strategy by looking into technologies such as extraction, transformation and loading. The report also advises firms to begin mapping out data architectures. Meridien predicts that in the next 12 to 18 months leading financial firms will begin big efforts to find data, test the predictive nature of their internal ratings models, maintain ratings consistency across the organization and integrate new credit and operational risk back into the business process.

Korea's Daishin Securities has selected Kamakura's Kamakura Risk Manager-VaR for its market risk analysis. The Kamakura software offers fully integrated functionality for default probability estimation, credit-adjusted Value-at-Risk, net income simulation and transfer pricing. Unisys Korea will act as a systems integrator on the Daishin project.

The Professional Risk Managers' International Association has formed a new regional chapter in Venezuela. Juan Espina will serve as the inaugural Regional Director for Venezuela's local efforts. Espina is a Senior Manager at Banco Del Caribe C.A. in Caracas and is also an Associate Professor in Financial Math and Statistics at Instituto Universitario de Nuevas Profesiones. He has also worked with BankOne and the Chicago Board of Trade in Chicago. PRMIA now has local chapter presence in 29 areas.

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