ROME Corporation, the leader in enterprise-wide Credit Risk Management, today announced that Southern California Edison, one of the nationâs top investor-owned electric utilities and the largest subsidiary of Edison International, has selected ROME CreditRisk to help measure, manage and monitor enterprise-wide credit risk and comply with regulatory demands.
SCE turned to ROME to enable efficient and seamless monitoring of credit exposure and liquidity obligations. SCE is faced with evaluating and monitoring an increasing number of counterparties in RFO deals, meeting the demands of upcoming Market Redesign and Technology Upgrade (MRTU) initiatives, and ensuring compliance with Sarbanes Oxley and new quarterly S&P Liquidity Survey. ROME Corporation will provide SCE the unique ability to provide complete visibility of the credit exposure on every transaction at multiple levels including the deal, contract, counterparty, commodity, and business unit level.
âWe selected ROME CreditRisk as a strategic long-term solution,â said Bobby Little, Chief Risk Officer at Southern California Edison. âROME CreditRisk will enable a new level of credit risk management for SCE that is not only critical to meeting our stringent regulatory demands, but also promises to provide us with unprecedented enterprise-wide risk visibility allowing senior-level management to make critical strategic decisions.â
David Achim, CEO at ROME Corporation, said, "Southern California Edisonâs adoption of ROME CreditRisk is further endorsement of the solution's value to the energy community. Southern California Edison is a complex utility in a critical market. ROME CreditRisk will help meet the risk management needs of such an operation and provide superior analytic visibility into contracts, liquidity obligations, and credit exposure.â
Southern California Edison selected ROME CreditRisk after evaluating several products in the marketplace. They were impressed with ROMEâs flexibility to meet evolving market requirements, their proven track record, and strong energy industry expertise.