Zürcher Kantonalbank (ZKB), Switzerland’s third largest universal bank, is now live with the latest version of the enterprise-wide risk management software, Risk Vision, from Misys. The bank is implementing Risk Vision 5.5 to gather and analyse exposure to risk across its entire business on a local level, as well as globally.
As a long-standing user of Risk Vision, ZKB had the confidence to maintain a complete and up-to-date view and understanding of its risk exposure during the recent financial crisis. It was keen to take advantage of the latest functionality to drive further improvements. Through real-time views, ZKB benefits from enhanced exposure measurement, limits management and improved risk mitigation.
The latest release has enabled ZKB to benefit specifically from expanded risk mitigation functionality in the area of netting agreements and collateral. It provides ZKB with additional coverage in the areas of commodities, swaps and annuity loans. Continual optimisation of both intra-day and end-of-day performance allows better management of daily workflows. This ensures the accuracy of real-time exposure information for use by both front-office users and credit decision-makers.
ZKB’s head of credit risk management, Dr Luc Seydoux, said: “Risk Vision 5.5 provides us with the ability to execute more stringent credit risk management processes. When the markets were in turmoil during the fourth quarter of 2008, Misys Risk Vision was of paramount importance to ZKB. We have significant trading operations so having the information available in real time was crucial to knowing our risk position relative to our counterparties’ credit risk.”
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