capital modelling process, supplementing internal loss data to populate ‘tail’ (high severity, low frequency) events. Algo OpVar – This is intended to enable enterprises to collect, analyse, assess and report on operational risk, calculate capital, and satisfy regulatory requirements. It offers integration with a number of functional extensions, comprising internal loss event data collection, risk and control self-assessment, key risk indicators, scenarios, capital modelling, and Sarbanes-Oxley. Algo gained a patent for this in early 2011. Algo Reconciliation – This employs an algorithm to automatically propose matches for a large proportion of an institution’s portfolio. The results are organised and sorted by matches that identify where the largest mark-to- market difference lies. It can also be extended with Dispute Management and Management Information Disputes dashboard modules. Algo Risk Service – Providing real-time access to market and risk information, it is intended to support multiple investment strategies, asset classes, valuation methodologies, risk/portfolio analytics, and scenario generation techniques. BT Pensions Scheme Management went live with the service in early 2011. Algo Financial Modeller – VIPitech Modeller, as was, this is an actuarial modelling system intended to deliver risk and value information to support decision making. It was fleshed out for Solvency II for insurance companies during 2010, with a release early the following year. Within the VIPtech-derived suite, there was also VIPitech Enterprise Production Server for managing the model production process. The platform enables approved models to be published to a web server where they can be prepared, managed and scheduled to run using in-built and proprietary grid capabilities. This enables users to make key decisions without altering the underlying calculations. The VIPtech products were rebranded in February 2011 when the integration into the overall Algo suite was apparently completed. Other solutions offered include hosted services such as the Algo OpVar Service (for the identification, collection, management, and measurement of operational risk) and
Partnerships
Algorithmics has forged partnerships with numerous organisations over the years including Andrew Davidson, BCS Group, Bloomberg, Computer Associates, DataSynapse, Deloitte & Touche, Egenera, Ernst & Young, FEA, FRS, Fujitsu Siemens, Hewlett-Packard, IBM, IBM ILOG CPLEX, Intel, International Software Group, Intex, ISI-Dentsu, KPMG, Numerix, Oracle, Polaris, PRMIA, RiskWorx, SecondFloor Group, Sun Microsystems, Sybase, and Valor de Mercado. Smartstream has bought the rights to IBM’s Algorithmics-derived collateral management system for an undisclosed amount
in March, 2015. The solution will be rebranded as Transaction Lifecycle Management (TLM) Collateral Management and will reside with the rest of the new owner’s trade lifecycle offerings. With this transaction, IBM will further increase its focus and investment on risk analytics solutions and continue to leverage IBM’s big data and analytics and cloud portfolios for broader risk architectures and solutions. Deloitte and IBM announced the latest step in their longstanding strategic alliance in May, 2015, creating a transformative series of risk management and regulatory compliance solutions. Deloitte and IBM are developing solutions for financial services firms to more efficiently address their immediate compliance and conduct requirements. One of these is a regulatory compliance and control solution, which is being demonstrated at the IBM Vision conference in Florida this week. It combines Deloitte’s regulatory intelligence with advanced technology from IBM.
Risk Management Systems & Suppliers Report |
www.ibsintelligence.com 57
the Algo Risk Service (providing on-demand access to risk measurement and management support tools). Algorithmics also provides consultancy to help firms identify, measure and manage credit and operational risk (Algo Credit Advisory and Algo Operational Risk Advisory). Algo Credit Data Services is intended to provide financial
institutions with data management and technology solutions to develop, operate and manage a credit data pooling consortium. On behalf of all member financial institutions, the vendor manages and executes all steps in the data management process, from establishing the consortium structure and logistics, to data collection (data model design, extraction, validation and transformation), data processing (receiving, authenticating and auditing), data production (normalisation, calculation and aggregation), and reporting results to the member institutions. There is also Algo Lab which provides specialised technical support related to implementation, performance testing and upgrades. Algorithmics claimed 44 new licence orders in the 2010 financial year, with much of the demand coming from EMEA but also with good growth in Asia Pacific (revenues more than doubled here compared with the previous year). Clearing houses were among the takers. At this time it claimed 184 clients of its market risk, ALM and liquidity risk solutions, 119 for credit risk and capital management solutions, 100 or so for operational risk and 78 for collateral management. In August 2015, IBM announced a significant expansion of the mainframe’s strategy of embracing open source- based technologies and open-source communities to provide clients with the most secure, highest performance capabilities for an era where mainframes increasingly anchor corporate analytics and hybrid clouds. Unveiling the most secure Linux servers in the industry – The company is introducing two Linux mainframe servers – called LinuxONE – that are the industry’s most powerful and secure enterprise servers designed for the new application economy and hybrid cloud era. IBM Provides Access to LinuxONE Developer Cloud at No Cost. IBM is also providing unprecedented access to the mainframe to foster innovations by developers in the open source community.
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