Red Swan Risk, a developer of standardised market risk data management and business processes for hedge funds and asset managers, has partnered with Asset Control, a provider of data quality software solutions for financial data.
The collaboration is set to provide asset managers with a managed service that delivers a high-quality, data mastering, data analytics, and model risk solution.
As part of this, Red Swan Risk will enhance its multi-asset class portfolio risk management solution, RiskON, through Asset Control’s managed service offering, PaSSPort.
RiskON platform provides seamless aggregation of portfolio holdings data with security level risk and reference data using a unified data model, Red Swan Risk explained.
According to Red Swan Risk, this gives users the transparency and control over risk modelling decisions needed to monitor, analyse, and manage model and portfolio risk through a web-based user interface and application programming interface hosted on Amazon Web Service.
Meanwhile, PaSSPort is providing security master as-a-service to power Red Swan Risk’s solutions with a robust and scalable data management system that exposes full data lineage.
Clients can easily leverage the partnership capabilities by extending the PaSSPort scope beyond the initial RiskON use case and into the enterprise, Red Swan Risk highlighted.
It is in this context that Asset Control, through the provision of its managed data service, PaSSPort, can play a key role in helping users quickly and easily verify data quality.
Nathan Wolaver, Asset Control managing director of the Americas, said: “Teaming up with John Matwey and the team at Red Swan Risk is a great way to leverage PaSSPort to help clients take advantage of RiskOn suite of analytics tools but to do so in a sustainable framework that delivers operational advantages that can easily be extended beyond the initial use.”
He continued: “This example is further proof of our capabilities in proving a trusted foundation for partners that are looking to accelerate their delivery timelines and give their clients an easier operating model.”
John Matwey, founding partner, Red Swan Risk, added: “Asset managers face an ongoing struggle to manage model risk challenges including model selection, model configurations, market data, and reference data. Together with Asset Control, Red Swan can provide more powerful tools for validating and managing the critical reference data that impacts model risk. We are excited to work with Nathan Wolaver and the team at Asset Control to make it easier for our clients to deal with these challenges.”
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