Sign up for free newsletter

 

Computers

AmBank turns to Murex for market risk governance and compliance framework


AmBank Berhad, part of Malaysia’s AmBank Group, has gone live with the latest version of Murex’s MX.3 Market Risk Solution.

 
This new market risk implementation enables the bank to enhance oversight of its risk management activities across all fixed income businesses and strengthens the bank’s ability to meet increased domestic regulatory and reporting requirements.
 
“A thorough due diligence and proof of concept preceded our decision to shift away from our former system to Murex whose capabilities we were already familiar with. Besides the benefits of leveraging current installations, we wanted to make sure this new risk installation will provide a significant leap ahead by delivering the most advanced market risk features,” says Nigel Denby, chief risk officer, AmBank Group.
 
Within eight months, AmBank and Murex teams were able to replace and deliver a new market risk framework covering Historical Value at Risk (HVaR) calculations, stress testing, back testing, market limits monitoring, compliance checks, risk aggregation and regulatory reporting to Bank Negara Malaysia, the local monetary authority. The implementation also features the MX.3 Market Risk Aggregator (MRA), which facilitates HVaR aggregation at enterprise level and provides a dashboard enabling dynamic analysis of risk drivers.
 
“This implementation adds another successful milestone in our collaboration with Murex. Tackling such an ambitious project in a short timeframe requires the best technology and quality people, driven by excellence, orientated towards knowledge sharing and having strong team spirit. We were able to work as a unified team and deliver the first phase of this project on time,” says Sally Heyes, group risk project director, AmBank Group.
 
Guy Otayek, chief executive at Murex Asia Pacific, says: “We are proud to have seen our partnership with AmBank consolidated through such a stimulating project. It endorses our business model as we strive to keep a keen focus on our clients’ needs and a consistent development strategy, to make sure we can, at all times, build and deliver their platform for growth.”

events
6 weeks 2 days from now - New York
7 weeks 2 days from now - Hong Kong
7 weeks 2 days from now - Los Angeles
8 weeks 18 hours from now - Monte Carlo
8 weeks 18 hours from now - New York
listingsdirectory
Eden Rock Capital Management
Wed, 15/06/2016 - 17:30
UBS Global Asset Management
Fri, 06/05/2016 - 14:19
RFA (Richard Fleischman & Associates)
Tue, 05/04/2016 - 14:25
training
Wed, 21/09/2016   - London
Wed, 28/09/2016   - London
Thu, 29/09/2016   - London
specialreports
other gfm publications