04:48 PM
RISK-MANAGEMENT NEWSFLASHES
Dresdner Kleinwort Wasserstein is rolling out Tamesis Risk Informer to provide real-time risk and profit and loss as well as dynamic trade capture for its credit derivatives trading operations globally. The system consolidates the management of structured-credit-products and delivers consistent and transparent pricing, risk management and scenario analysis to front office and management staff. Selection of Tamesis followed a four-week pilot during which a subset of the bank's trades and analytics were integrated and the system was deployed to the desktop.
Bank of America (BofA) has selected SAS, a provider of business-intelligence software, to power its anti-money laundering program. BofA will use SAS to meet the requirements of the USA Patriot Act, which require firms to establish due diligence policies to prevent, detect and report possible instances of money laundering or terrorist financing. BofA is also using SAS' anti-money laundering solution for its broker monitoring and customer suitability needs. The bank will monitor and analyze broker behavior, reporting risky situations to help protect customer and company interests. BofA was an early development partner for the SAS AML product.
Robeco Group, a supplier of asset-management products and services worldwide, has gone live with Algo Asset Management version 4.2 from Algorithmics. Robeco's front office portfolio managers and risk managers are using the product. "The systems we developed for equity, fixed income, balanced portfolios and credit spread, worked well from a methodology point-of-view, but did not allow us to scale the number of portfolios," states Pim Poppe, Robeco's head of group risk management. As part of its enterprise-wide risk measurement and risk-control process, Robeco uses Algorithmic' mark-to-future methodology and latest 'what if' analytics for pre-decision analysis of orders, enabling portfolio managers to evaluate the impact of each new transaction on the risk of the portfolio prior to execution.