Schroders Private Banking, a member of global asset management firm Schroders, has selected SunGard’s Ambit Liquidity Risk Management and Ambit Asset Liability Management solutions to meet the UK’s Financial Services Authority (FSA) stress testing regulations, and enhance its instrument coverage and analysis capabilities.
SunGard has said that the combined solution will be implemented in the bank’s service center in Switzerland to support Schroders’ private banks in Switzerland, the UK, Guernsey and Singapore.
According to the SunGard, Schroders Private Banking selected to deploy a centralized risk management solution in Switzerland to address its liquidity risk and asset liability management needs.
The bank adopted SunGard Ambit solutions to help address ongoing regulatory change and perform liquidity risk management in accordance with local regulations.
In addition, the Ambit solutions will help Schroders Private Banking improve its balance sheet management, run stress tests, proactively manage its cost of contingent liquidity, and help enhance its instrument coverage while providing comprehensive location-specific analysis capabilities.
Pierre-Louis Favre, head of finance and treasury at the service centre of Schroders Private Banking, said: “SunGard’s Ambit Liquidity Risk Management solution provides excellent functional coverage. With SunGard’s solution, we are now able to establish a centralized, multi-entity service out of Switzerland that provides individual liquidity risk and balance sheet management for our UK, Switzerland, Channel Islands and Singapore entities, helping them to identify and simulate strategies that minimize the cost of and exposure to liquidity risk.”
Andi Hug, general manager for Ambit Risk & Performance Management business unit at SunGard, said: “SunGard’s Ambit Liquidity Risk Management solution helps banks to not only comply with industry regulations, but also focus on more rigorous stress testing and increasing transparency.”