RiskTech Forum

Pictet Selects Wolters Kluwer Financial Services’ Financial Risk Solution To Create Integrated Platform

Posted: 8 October 2014  |  Source: A-Team Group


Wolters Kluwer Financial Services announced today that the Pictet Group, the Switzerland-based independent wealth and asset manager, has selected its Financial Risk Management solution for operations at its head office in Geneva. The solution will be integrated with Wolters Kluwer Financial Services’ Regulatory Reporting capabilities, currently implemented at the organization’s operations in France, Hong Kong, Luxembourg, Singapore, Spain and Switzerland. The Financial Risk Management solution will enable the bank to perform asset and liability management, liquidity risk,market risk and capital calculations at head-office level.

Pictet required an integrated and scalable solution that provides automated ALM, liquidity risk and market risk capabilities through a centralized data model, with limited manual intervention in order to help reduce operational risk. Wolters Kluwer Financial Services was selected ahead of the organization’s previous risk management system, due to its strong capability to provide numerous types of indicators, such as incomes, VaR, Gaps, capital requirements and liquidity ratios on one singular platform, as well as addressing various other business and regulatory needs in the form of stress scenarios, dynamic simulations and reporting.

“Wolters Kluwer Financial Services’ integrated platform provides us with the ability to conduct more advanced risk measures and handle multiple positions, including complex derivatives, enabling a more in depth understanding of our trading risk portfolio in particular, as well as add additional finance capabilities, such as funds transfer pricing and consolidation at a later date,” said Emmanuel Duterme, Risk Manager at Pictet. “Following a successful track record of providing regulatory reporting services to our business, we have first-hand experience of the knowledge and expertise that Wolters Kluwer Financial Services brings to the table. This combined with the Risk solution’s strong functionality, which included impressive dynamic simulation results; integrating the solutions on one platform made sense from both a regulatory and business stand point.”

“Faced with growing pressures from regulatory requirements, all financial institutions require timely access to accurate risk and finance information, providing senior management with a clear picture of the business’ risk position, allowing for quick decisions to be made with precision,” said Kris Van Bavel, vice president of sales, EMEA at Wolters Kluwer Financial Services. “Pictet has clearly grasped this concept by expanding our relationship with them and selecting our Financial Risk Management Solution to create one integrated platform across its business. We look forward to helping the institution address its finance, risk and reporting requirements in the future.”

Based on an integrated data layer, Wolters Kluwer Financial Services’ Finance, Performance, Financial Risk and Regulatory Reporting solution suite helps financial institutions address requirements across multiple business functions. The solution helps establish a standardized data management approach, leading to improved response times and servicing demand for faster access to risk and finance information.