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Risk Management

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RISK MANAGEMENT TECHNOLOGY

* Meridien Research advises financial firms to evaluate vendors when looking to contract with professional services firms to help with risk management initiatives. * Fimat USA licenses Egar Technology's Focus system for energy and commodity trading and risk management. * Peter Golden is appointed chief technology officer at e-portals.

A new report from Meridien Research advises financial firms to carefully evaluate vendors when looking to contract with professional services firms to help with risk management initiatives. The report entitled, "Risk Integration Services: Should We Order Out?" includes a framework for evaluating the abilities and appropriateness of professional-services providers and their risk services. This framework is important in the decision-making process especially at a time when consulting and audit relationships are being scrutinized, says Meridien. The report also takes an in-depth look at the market for outsourced risk services and covers information on needs analysis, systems requirements, vendor selection, solution engineering and implementing and testing.

Fimat USA, a wholly owned and independently managed subsidiary of Societe General, has licensed Egar Technology's Focus system for energy and commodity trading and risk management. The Focus position keeping system covers pricing, reporting and risk management in support of over-the-counter and exchange-traded derivatives, swaps, FX, equities, metals, bonds, repos and commodities.

Peter Golden has been appointed chief technology officer at e-portals, a UK company developing Web-based trading, treasury and risk services using Microsoft's .NET framework. Golden will be responsible for managing and recruiting a development team and driving the expansion of e-portals. Golden has previously served as IT director of Barclays Bank and was vice president in charge of treasury technology at Citibank where he was the architect of its treasury-trading systems. Golden is also a Fellow of the British Computer Society and Chair of its Financial Services Specialist Group.

The Global Association of Risk Professionals is hosting its third annual Risk Management Convention and Exhibition and Financial Risk Manager of the Year awards. The GARP 2002 event will take place February 11-14 at the Roosevelt Hotel in New York City. The first day of the conference will feature workshops entitled, "Designing and implementing an internal rating system that meets Basel II requirements," and "Practical approaches to improved market-risk measurement and management." The following two-day conference program includes separate streams for the different risk areas such as market risk, credit risk, operational risk and energy risk. The conference will close on the 14th with additional focused workshops for risk professionals. The award for Financial Risk Manager of the Year in 2001 will be presented at a ceremony on February 12th. For more information go to GARP's Website at www.garp.com.

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