Risk measurement and analysis have come under increased regulatory and public scrutiny as a result of the economic downturn, with firms searching the market for the most advanced and integrated solutions available. To meet this growing demand, DST Global Solutions’ Investment Management Solutions (IMS) business has launched a broad range of risk consulting services to address various aspects of companies’ risk management challenges.
Edward Dumas, DST Global Solutions’ Head of Risk Solutions for North America, will be heading up the Risk Consulting Services team. He commented: “Due to recent market events, risk management is now one of the top priorities for boards and executives. Companies are beginning to invest in technology and infrastructure to better support the risk management function. We have experienced this trend from the interest expressed by several investment management firms in our Askari risk management solution.
“We have therefore expanded our risk solutions to include a comprehensive offering of risk consulting services that will help companies to identify and manage their investment risks and exposures. We feel that this initiative demonstrates our commitment to meeting our clients’ growing risk management needs.”
The DST Global Solutions IMS Risk Consulting Services offering has been created as part of the company’s commitment to its Centre of Excellence for Risk Management. Jill Douglas, Global Head of Risk, commented: “Our holistic approach in the consulting services we offer for Risk is aimed at aligning investment strategies with risk appetite, as well as developing integrated risk solutions that address enterprise-wide risk management. We are delighted to be able to include this new offering to complement our existing range of consulting services.”
Some of the key risk consulting services offered include:
• Development of risk management policies, procedures and management action triggers to align risk appetite, risk exposures and performance objectives
• Writing and distribution of policies and procedures to establish and govern a comprehensive model validation program
• Creation of methodologies for risk measurement, including market risk, liquidity risk, credit risk, counterparty contingent credit exposure, collateral management, risk-adjusted business unit performance measurement and product valuation
• Technical guidance to achieve coherent and consistent aggregation of risk measurement results across multiple risk management systems and products
• Conducting of stress tests and scenario analyses, including macroeconomic scenarios, market-specific events and identification of key exposures and conditions under which risk measurement assumptions may no longer be valid
• Comprehensive technical and non-technical training covering risk governance, risk metrics, products, pricing and valuation
The Risk Consulting Services team is composed of professionals with extensive experience as risk management practitioners. They are also experienced in the practices of financial services regulatory agencies and have extensive experience in risk solution implementations – specifically in their capabilities to identify problems and recommend effective solutions within set time, resource and budgetary constraints.
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