John Fitzgerald, Basel II Programme Manager at EBS Building Society, comments, âEBS Building Society is committed to meeting both the spirit and the letter of the new Basel requirements. We chose Misys Almonde because of the transparency of the Almonde product, the expertise of Misys consultants and its ability to deliver immediate and long term value-add to our business.â
With Misys Almonde, EBS Building Society can more accurately measure and manage the risk in its lending portfolios, one of the Basel II requirements. âEBS will also benefit from the âvalue addâ features of Misys Almonde, with the âscenariosâ functionality in particular helping us to explore hidden risks and opportunities,â adds John Fitzgerald.
âFor us, the choice of Misys Almonde was obvious given the breadth and depth of the solutionâs capabilities. Misys has made sure that the implementation was smooth and successful. We are running Misys Almonde in parallel with our existing regulatory reporting infrastructure and the first submission of CoRep reports to the regulator is planned for Q3 2007. Additionally, monthly capital reporting is produced for senior management. As a building society, we see new regulations as an opportunity to implement tools that bring added risk insight benefits to day-to-day operations. We are very much looking forward to working with Misys over the coming years.â
Misys Almonde has been designed specifically for financial institutions that require Basel II compliance. It covers the full range of regulatory and business requirements, from advanced data management through to reporting.
Trevor Holford, Misys Almonde Product Manager at Misys, states, âWe have worked closely with EBS to provide it with an integrated âBasel II in a boxâ solution, which smoothly interfaces with its existing systems, delivering it hassle-free Basel II compliance in the most cost-effective manner.
Misys Almonde combines risk-weighted asset (RWA) and credit risk mitigation (CRM) calculations with structured processes, audit trails, data modelling, data storage, stress and back testing, regulatory/ management reporting and analysis tools.