âIt has been QuICâs focused strategy to invest in our dedicated team of Financial Engineers and risk experts to complement our technology. Weâre now uniquely positioned to offer banks extremely valuable insight and help in quantifying their risk to obtain IMM approval.â stated Nigel Cairns, President and CEO of QuIC. âWe are now leveraging the expertise and insight gained from assisting these two clients to help other clients gain approval.â
Drawing on QuICâs expertise in helping clients meet industry regulations, and combining it with access to the highest performance risk management tools to calculate model valuation and Counterparty Credit Exposure, QuIC has established many working relationships with banks helping them meet important regulations.
Banks are facing increasingly rigorous credit risk and exposure demands, and are now looking to obtain IMM approval as part of their overall risk management strategy to better understand their exposure risks and capital requirements. In recognition of our clientâs need of assistance both implementing and executing a successful IMM strategy, we are providing the necessary services to support model validation, documentation, back testing and stress testing.
âWe witnessed first-hand how the flexibility of our technology provided these two clients the advantage in obtaining IMM approval,â added Tony Coppellotti, Chief Technology Officer for QuIC. âCalculating credit risk on a full monte carlo basis for a tier one bankâs global book requires the speed of a super computing solution, the stability of a proven risk architecture, and the flexibility to tailor the solution to the clientâs environment.â