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Risk Management

01:58 PM
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Wachovia Picks Centerprise for enterprise-wide operational risk; Rabobank monitors global credit- risk with SunGard's Credient MC2; Front Capital Systems names Tamaddon and Dasgupta to management positions; Alcatel chooses SuperDerivatives for currency-option-pricing.

Wachovia Corp. chose Enterprise OpRiskCenter from Centerprise Services, Inc. as its enterprise-wide operational-risk solution. The Centerprise product will be implemented across all of Wachovia's lines of business and address all aspects of operational risk, including loss events, risk assessment, key indicators, issue-and action-plan management and risk profiles.Yousef Valine, Wachovia's head of operational-risk-management, states, "What attracted us to Centerprise was their integrated, well-architected solution that would scale and accommodate an enterprise-wide deployment."

Rabobank has implemented SunGard Trading and Risk Systems' credit-risk-management software, Credient MC2, for its capital-market and treasury-credit function. Traders will use the tool globally. Rabobank will use Credient MC2 to measure its global counter-party credit exposures against set limits, for real-time decision-making and credit-risk control. The bank intends to use the numbers in other credit-like calculations such as economic capital and provisioning, for strategic management and planning.

Front Capital Systems, an operating unit of SunGard, appointed Farid Tamaddon to be senior vice president professional services. Farid is responsible for overseeing the service and delivery functions of Front's products. Tamaddon brings over 20 years experience to this role with knowledge in derivatives, foreign exchange, fixed-income and risk management. In the second management change, Bhaskar Dasgupta was appointed director of business-solution-management. Dasgupta brings over 14 years experience to the role, including five years with Sungard. He has a thorough understanding of front-and middle-office, and accounting and settlement systems, as well as equities, fixed income, foreign exchange, credit and derivatives.

Alcatel has chosen SuperDerivatives for currency-option-pricing and re-evaluation needs. Alcatel uses options extensively for its hedging, states Arnaud Sebbane, FX Option Trader. "The main benefits of SuperDerivatives is its provision of accurate market prices for all classes of options, including vanilla and exotic options," says the trader in the news release. Among the major functionalities cited by Sebbane are "the ability to do retroactive re-evaluations and quick analysis of the risk, as well as identification of good opportunities in the market." Alcatel tested SuperDerivatives' pricing capabilities in many different classes of options before adopting it, he states.

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