Asset Control’s Turnkey Risk Solution will interface with internal and external data sources and manage foreign exchange, fixed income and derivatives data for Allied Irish Bank (AIB).
The AC Contour risk management system will enable managers and analysts to create risk factors by converting data into curves, surfaces, volatilities and covariance matrices. With a centralized database in Dublin, AIB users in New York, Poland and London will access the solution via the AC Desktop.
Many institutions have multiple databases and a mix of systems which need to be centralized in order to achieve a more auditable, controlled environment, said Ger Rosenkamp, CEO of Asset Control. With AIB’s fast implementation we demonstrated how we could centralize their data management without the uncertainty that typically comes with complex risk management solutions.
AIB expects to be in production with the full solution by September 2006.
