Odyssey Financial Technologies, a global provider of Private Wealth and Asset Management solutions and services, and RiskMetrics Group, a leading provider of risk management and corporate governance services to the global financial community, have signed a strategic alliance. As a result of this partnership, Odyssey is pleased to announce the launch of its new Portfolio Risk module, which is powered by RiskMetrics Group.
In keeping with the provisions of this partnership, Odyssey has embedded RiskMetrics Group’s risk statistics, which are made available through a “Software as a Service” (SaaS) model. Hosted Application Services are managed by RiskMetrics Group as an Application Service Provider (ASP).
Fully integrated with Odyssey's Triple’A PlusTM platform and adapted to the specifics of private wealth management and separately managed accounts, the Portfolio Risk module sets up a risk tolerance to measure and manage risk, using a variety of risk statistics. It also efficiently monitors portfolio risk suitability at enterprise and client/portfolio levels and offers a more standardised, streamlined, disciplined approach to risk-adjusted portfolio management. Financial institutions can then communicate the risk to clients and provide full details in a high quality report.
Didier Pitton, Product Marketing Director, Odyssey, comments: “Driven by competition, compliance and the increasing sophistication of investment products, financial institutions have to implement strict rules to protect private investors and ensure they understand and manage their portfolio’s risk. Odyssey’s Portfolio Risk module helps wealth managers to provide private investors with more detailed guidance on the risks of investment strategies and the instruments proposed. This includes more practical information on how risk materialises, how correlations affect portfolios and the degree to which diversification can reduce risk. It also allows wealth managers to offer more in-depth information on how abnormal market conditions could impact portfolios.”
The solution will empower Odyssey’s clients to verify the compliance of portfolios with pre-trade risk impact suitability tests and create risk threshold alerts for all risk statistics. Odyssey clients can take advantage of RiskMetrics Group's broad universe of financial instruments, reliable time series and well documented risk methodology through a single contract with Odyssey.
Martin Spencer, Head of RiskMetrics Wealth Management Business, Europe, adds: “Today’s investment and regulatory landscape requires a rigorous risk management culture with supporting risk tools and analytics. By embedding RiskMetrics Group’s portfolio risk analytics we have strengthened Odyssey’s private wealth management solution ensuring its clients have access to the very best in portfolio risk.”
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