Oracle Financial Services Software has launched an integrated, enterprise-wide stress testing solution to help financial services institutions gain a holistic view of risk and comply with the Internal Capital Adequacy Assessment Process (ICAAP) requirements under Pillar 2 of the Basel II accord.
Delivered using Oracle Reveleus Advanced Analytics Infrastructure, the stress testing solution enables institutions to centrally develop, define and manage scenarios and shocks – and apply them across multiple risk categories including credit risk and market risk – to help provide a transparent and auditable means of performing regulatory and economic capital estimation.
The stress testing solution enables institutions to overcome the recently exposed flaws in the traditional, siloed approach to stress testing by enabling banks to share and reuse their existing, calibrated risk models with shocks and stress scenarios that are common and consistent across the entire enterprise, thereby providing a holistic approach for stress testing management.
“There is unprecedented regulatory pressure on financial institutions to comply with enterprise stress testing requirements and ensure that the lessons of the financial crisis have been learned and will not be repeated,” said S Ramakrishnan, chief executive of Oracle Reveleus and Oracle Mantas products, Oracle Financial Services Software. “Stress testing with Oracle Reveleus’ analytical applications for risk is a clear example of how our best-in-class applications, unified through a common infrastructure, uniquely enable our customers to rapidly respond to the ever-changing regulatory landscape and safeguard against future crises.”
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