Despite the moves within the regulatory community towards mandating reverse stress testing procedures, the majority of firms have yet to take action and put in place new procedures and systems to cope with the changes, according to a recent survey conducted by the Professional Risk Managers’ International Association (PRMIA). Reverse stress testing is just one of the areas that risk managers have to tackle in the face of the deluge of new regulatory requirements and it is telling that 56.7% of the 360 respondents to the SunGard sponsored survey had not yet begun on the road to meeting these requirements.
The criteria for what makes a savvy risk technology investment has been refined over the course of the last two years and the vendor community is keen to keep pace with the requirements of the new market, which includes high performance computing upgrades and new modelling methodologies. One such vendor is Razor Risk Technologies, which is planning to invest further in its offering this year to increase its real-time risk modelling capabilities and meet the upcoming Basel III requirements, according to European CEO Richard Bennett.
Following on from its recent testing procedures for the submission of liquidity risk reporting data to its online regulatory reporting system (see details 
As noted by A-Team Insight at the start of this year (see our coverage 
A-Team Insight Events combine A-Team's expertise in financial markets IT with thought leadership from world-class technology innovators and practical experience from financial market practitioners. In 2011, a quality constituency will once again gather for these focused events in London and New York City.
This month’s UK Financial Services Authority (FSA) forum on preparation for liquidity reporting for independent software vendors (ISV) and firms under the new liquidity risk regime focused on the details of the XML submission process and upcoming schedules for Gabriel testing. Last month, the FSA confirmed that rather than accepting spreadsheets for all data as first planned, firms will need to prepare XML submissions for the required data (see our coverage here).
Loading ...
View the full article on Low-Latency.com