Kamakura Corporation reported today that Alfa-Bank, headquartered in Moscow, has licensed the Kamakura Risk Manager software system for asset and liability management, market risk management, and transfer pricing. Fiserv IPS-Sendero led the implementation of the KRM system, which has already been completed. Alfa-Banking Group has 280 offices across Russia and abroad. The Group also operates through subsidiary banks, affiliate and branch offices in Kazakhstan, the Netherlands, Cyprus, the U.S. and the United Kingdom and serves more than 2.6 million individual and more than 51 thousand corporate clients. Alfa-Bank had more than $17 billion U.S. dollars in assets as of June 30, 2007. Alfa-Bank is the second major banking organization in Russia to sign for Kamakura Risk Manager in 2008.
“At Alfa-Bank, we place the highest priority on the accuracy and sophistication of risk management,” said Mehdi Shirazee, Group Treasurer at Alfa-Bank. “We have the highest respect for the financial engineers and computer scientists who have designed the Kamakura Risk Manager system over Kamakura’s 18 year history. With KRM at Alfa-Bank, we can immediately move to the front ranks in risk management world-wide. State of the art interest rate risk management is critical to our success.”
“There is no financial services organization in the world which has more expertise in computer science and finance that Alfa-Bank," said Warren Sherman,
Kamakura President and Chief Operating Officer. “The collaboration between Alfa-Bank and Kamakura on further enhancements in KRM’s multi-threaded risk processing has been enormously productive for both parties. The continuous speed enhancements in KRM will substantially benefit Kamakura clients around the world. Alfa-Bank’s contribution to these enhancements has earned the Bank a warm welcome from the very large KRM user group in Europe and the rest of the world."