Wolters Kluwer wins Polish risk mandate
17 March 2016 Warsaw
Image: Shutterstock
Polish Bank Pocztowy has chosen Wolters Kluwer’s OneSumX to provide risk management software solution for asset and liability management, market risk, liquidity risk and credit risk.
The bank will also use Wolters Kluwer to provide funds transfer pricing analysis and stress testing.
OneSumX provides complementary solutions and services for managing governance, finance, risk and compliance, in order to help improve efficiency, profitability and growth.
The asset and liability management aspect, based on integrated market infrastructure, allows for balance sheet remodelling, risk measurement and management, and regulatory compliance.
Market risk capabilities provide a view of profit and loss on the balance sheet from both a risk and business unit perspective, while liquidity risk capabilities combine a risk management and regulatory reporting platform and a stress engine for monitoring and reporting liquidity risk.
Finally, the credit risk application will allow the bank to calculate its Basel III capital charges using a standardised approach to measuring credit risk.
Magdalena Nawara, director of Bank Pocztowy’s risk management division, said: “We required a provider who inherently understands the myriad risk management obligations today’s banks face.”
She added: “We are taking a fully automated approach with daily risk management and profitability calculations and monthly analysis for Basel III, using the Wolters Kluwer solution to ensure we have access to leading risk management capabilities.”
Kris Van Bavel, Wolters Kluwer vice president of sales in Europe, the Middle East and Africa EMEA Sales, commented: “We have enjoyed considerable success across EMEA with our OneSumX solution in recent months, and we are delighted that, as a long term customer, Bank Pocztowy has chosen to remain part of the growing list of major financial services firm to choose Wolters Kluwer for its risk solution.”
The bank will also use Wolters Kluwer to provide funds transfer pricing analysis and stress testing.
OneSumX provides complementary solutions and services for managing governance, finance, risk and compliance, in order to help improve efficiency, profitability and growth.
The asset and liability management aspect, based on integrated market infrastructure, allows for balance sheet remodelling, risk measurement and management, and regulatory compliance.
Market risk capabilities provide a view of profit and loss on the balance sheet from both a risk and business unit perspective, while liquidity risk capabilities combine a risk management and regulatory reporting platform and a stress engine for monitoring and reporting liquidity risk.
Finally, the credit risk application will allow the bank to calculate its Basel III capital charges using a standardised approach to measuring credit risk.
Magdalena Nawara, director of Bank Pocztowy’s risk management division, said: “We required a provider who inherently understands the myriad risk management obligations today’s banks face.”
She added: “We are taking a fully automated approach with daily risk management and profitability calculations and monthly analysis for Basel III, using the Wolters Kluwer solution to ensure we have access to leading risk management capabilities.”
Kris Van Bavel, Wolters Kluwer vice president of sales in Europe, the Middle East and Africa EMEA Sales, commented: “We have enjoyed considerable success across EMEA with our OneSumX solution in recent months, and we are delighted that, as a long term customer, Bank Pocztowy has chosen to remain part of the growing list of major financial services firm to choose Wolters Kluwer for its risk solution.”
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