RISK-MANAGEMENT TECHNOLOGY NEWSFLASHES

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.