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Risk Management

03:08 PM
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JPMorgan Treasury Service lands two customer wins for Horizon; HSBC partners with Accurate Software for operational risk; PeopleSoft and IBM join forces on enterprise risk-management solution for Basel II.

JPMorgan Treasury Service unveiled a Chinese-language version of Horizon, it's operational-risk-management solution, and reports two customer wins at the Bank of China's U.S. operations and the World Bank. Horizon is a Web-based, enterprise-wide operational-risk-management service designed to help managers of banks and central banks to document the controls established to mitigate risk, evaluate business units' compliance efforts and identify areas of the business that lack proper control procedures. Bank of China, U.S. Branches selected the package, and also hired JP Morgan Treasury Services as its implementation services advisor. In addition, The World Bank selected the Horizon system and implementation-advisory services from JPMorgan Treasury Services to help create transparency across the group's finance-business lines. The bank will also use the JPMorgan Horizon Risk/Loss Events module to record and analyze its events and losses.

HSBC signed a partnership agreement with Accurate Software in which the bank's global-payments and cash-management division will recommend Accurate's operational-risk-management solution to its clients " banks, fund managers, securities firms, insurance companies, and corporate clients across a wide range of sectors. Accurate NXG is built on the four core competencies of reconciliation, exception-management, workflow and business intelligence.

PeopleSoft, Inc. teamed with IBM to provide an enterprise-risk-management solution that enables financial-services organizations to comply with Basel II requirements. IBM will integrate PeopleSoft Enterprise Financial Management applications with IBM's core Risk and Compliance initiative so that financial-services firms can meet the Basel II mandates and develop integrated risk-management strategies. Both companies will jointly market the solution. IBM's Risk and Compliance initiative includes IBM's financial-services consulting practice, middleware, hardware and integration services. The initiative enables financial firms to gain a comprehensive view of how financial data will be gathered, enhanced, stored, calculated and reported. PeopleSoft's Profitability Management products provide the analytic capabilities for the combined solution, including PeopleSoft Risk Weighted Capital, Asset Liability Management and Funds Transfer Pricing.

The first Linux and distributed-computing version of Algo Suite has been completed, and is implemented at client pilot sites, according to Algorithmics Incorporated, the enterprise-risk-management-software provider. "Our clients have commented that they have experienced a price-performance increase of five to 10 times for the internal applications they have already ported to Linux," states Michael Zerbs, Algorithmics' chief operating officer. With the release of Algo Suite 4.4 on Jan. 15, 2003, it will be possible to implement and run Algorithmics' Mark to Future (MtF) architecture entirely on Linux, and to deliver advanced enterprise-risk management across banking (wholesale and retail) and trading books.

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