Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk Management

02:27 PM
Connect Directly


PRMIA names Carerro to head Venezuela chapter; FHLB chooses Summit system.

Karina Carerro, a financial-services consultant with Accenture, was named the new Regional Director of the Professional Risk Managers' International Association (PRMIA) Venezuela chapter. Carerro, a member of the PRMIA Venezuela Steering Committee, takes over the role from Juan Carlos Espina, who opened the chapter. At Accenture, Carrero's assignments focus on the diagnosis of current risk- management processes against Basel II and the design and implementation of projects to improve risk-management practices in local and international institutions. Prior to Accenture, she was an operational-risk manager with Banesco Banco Universal and served as a risk-consultant with Andersen Consulting.

The Federal Home Loan Bank (FHLB) Boston will implement the Summit system to manage the bank's investment and funding portfolios along with associated hedging activities. A phased-in rollout will be conducted with assistance from Summit's Consulting Services Group, and there are plans to conclude the work in the fourth quarter of 2003. The new integrated software platform will provide the bank with a real-time straight-through-processing environment. It includes comprehensive trading, risk-management and back-office processing support for a wide array of fixed-income securities, including mortgage-backs, money-market instruments and interest-rate derivatives. In the release, Kelly LaCava, vice president information technology, cites the substantial operating efficiencies to be gained by consolidating multiple systems while reducing manual processes.

Register for Wall Street & Technology Newsletters
Inside Abel Noser's Trading Floor
Inside Abel Noser's Trading Floor
Advanced Trading takes you on an exclusive tour of Abel Noser's New York trading floor, where the agency broker known for transaction cost analysis, is customizing algorithms for the buy side, while growing its fixed income trading and transitions business.