The scope of the SKFHâs Algo Market Analytics implementation is group wide including transactions for four of the SKFH entities. Phase 1 of the project was completed on time and on budget, and it was focused on the implementation of a VaR process and stress testing for both domestic and international activities. In Phase 2, SKFH will implement additional classes of complex financial instruments.
Dr Grace Chu, CRO at SKFH, said: "We knew that in selecting Algorithmics for our market risk solution, SKFH had the potential to establish itself as the leader in the region. We have found that our project team has been able to develop a strong relationship with Algorithmics and that our requirements have been fully captured in the implementation; we are very pleased with the results. The reports that are generated are able to provide our senior management, for the first time, with a holistic view of financial risk across all of our different businesses.â
âAlgorithmics would like to congratulate everyone involved at SKFH on their successful rollout, which is one of the fastest market risk implementation projects in the region,â said Dr Andrew Aziz, Executive Vice President of Risk Solutions at Algorithmics. âWith Algo Market Analytics, SKFH is able to enhance its decision-making processes and to benefit from best practice risk management capabilities. We are very pleased with the excellent working relationship we have with SKFH and congratulate the SKFH and Algorithmics teams who have contributed to this success.â