Bloomberg swept the board in A-Team Group’s Performance Benchmarking survey of North American valuations services for the buy side. The report – sponsored by SIX Telekurs and Standard & Poor’s and available for free download below – surveyed buy-side managers on key trends, budgets and experiences with vendor services.
In the aftermath of the financial crisis, the period from 2009 through 2010 saw liquidity risk rise from relative obscurity to a position of prominence on regulatory agendas worldwide. One year on, liquidity risk management remains high on the agenda for institutions across the global financial services industry.
Liquidity risk management software providers have responded to new global standards and requirements with a range of new and innovative solutions, gaining implementation experience across a broad range of global financial institutions.
As elements of the global financial markets regulatory puzzle are slowly pieced together, the case for enterprise risk emerging in 2011 as the long-awaited ‘killer app’ for enterprise data management is growing.
Market practitioners everywhere are wringing their hands at the prospect of different and varying regulatory mandates to maintain a comprehensive, enterprisewide view of their risk exposures. What’s worrying them is the realisation of the complexity of the task at hand. Different regulatory regimes will require different risk reporting practices, often drawing upon different datasets, compiled according to different time horizons and delivered to a wide range of consumers, each with his or her own specific requirements.
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It seems that risk management is never far from the minds of the boards of financial institutions at the moment, given the increase in regulatory and client scrutiny of this space in the post-financial crisis environment. In order to meet the slew of regulations on the horizon, firms are being compelled to invest in their risk management systems to keep on top of their exposures, be they credit, market or liquidity related.
Regulators such as the UK Financial Services Authority (FSA) are directly endeavouring to place more emphasis on firms’ risk management practices. As well as its liquidity risk reporting regime, the introduction of new remuneration guidelines are aimed at curbing reckless risk taking within financial institutions. All of these are a case in point for increasing the power of the risk function.
Accordingly, the profile of the risk function within financial institutions has gradually risen up the ranks in terms of priority and power, and many more firms are taking the decision to appoint a chief risk officer (CRO). The regulatory community has indicated that CROs should eventually have clear enterprise-wide authority and independence, with tenure and remuneration determined by the board.
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The A-Team Group Liquidity Risk Management Directory is a new and first of its kind publication, focusing on the providers of solutions in the complex and demanding area of liquidity risk management. As financial institutions face extensive new requirements in the management of liquidity risk, the directory is intended to provide indispensable assistance in the assessment and selection of solution providers.
In the wake of the global credit crisis, liquidity risk has moved high on the agenda of financial institutions and regulators. Solutions providers are responding with new and enhanced products and services to meet the needs of all sectors of the financial services industry. We will be updating the directory on a regular basis as global liquidity risk management requirements are defined and as vendors bring new solutions to the table.
A key feature of the directory is the A-Team “Ask the Experts” section, providing a platform for solutions providers to address critical issues in the management of liquidity risk. Leading providers have contributed thought-provoking commentaries on the scope and complexity inherent in liquidity risk management solutions in today’s financial services industry.
As financial institutions fight to survive in the post credit crunch climate, they are reviewing the serious challenges they face as they come to grips with new priorities in risk management across the enterprise. No longer just a middle office function, risk management is becoming the heart of financial institutions, driving business practices and governing the future direction of the industry.
To build accurate, representative picture of a firm’s risk exposure, firms are employing a hierarchy of measures that require new data items and sources, more timely data, and reengineering of data management solutions. Much of this data may be already maintained within the firm, but political and technological barriers have kept its management siloed, controlled by different fiefdoms. Recent events have highlighted the danger of not tackling the risk management challenge.
A-Team Group surveyed senior managers in Tier 1 and Tier 2 banks and broker/dealers to understand how data management processes are evolving to meet new risk management challenges, who is driving change within the institutions, and what are they looking for from their data and data management suppliers to help them meet these challenges. Our findings are contained within this in-depth report, which you can download free below.
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