completed the implementation of IT&eâs RazorTM risk management system to manage
credit limits and exposures across ANZâs global operations.
ANZ is using Razor across the bankâs treasury and commercial lending books to
ensure exposures are managed within the limits mandated by the bankâs credit
Joe Seychell, ANZâs Head of Risk Technology, says: "Razorâs distributed processing architecture enables dealers to check limits and availability in real time. This enables us to utilise available credit more profitably on a global basis while knowing credit policy is being followed. The ability to manage exposures across both our banking and trading books provides us with a much better understanding of where our credit risks are and enable us to manage these risks more proactively."
ANZ selected IT&eâs Razor product after an extensive evaluation of the major
overseas risk management software vendors. ANZ is undertaking a major reengineering program to consolidate the management of risk across the organisation, and chose IT&e and Razor as a long-term strategic solution to support this effort.
The initial implementation of Razor has enabled ANZ to decommission the RXM
application. The next phase of the program will focus on streamlining the
management of credit risk across the organisation, resulting in large savings from the automation of formerly disparate manual processes. Seychell added: "Razorâs flexible limit management capability and experienced risk management consultants enabled us to fully implement the bankâs credit policy and remove a number of cumbersome workarounds, reducing operational cost and risk."
The live implementation of Razor is a significant landmark for IT&e. Jim Maranis, CEO of IT&e stated: "The implementation of Razor at ANZ was a complex
undertaking, involving a large integration effort, high transaction volumes, and the additional complexities associated with ANZâs global roll-out. The success of this project demonstrates the strength and stability of IT&eâs Razor product, and the experience of IT&eâs risk management implementation resources. These attributes place IT&e very favourably in the global risk management software marketplace in line with IT&eâs global expansion strategy."