24 November 2014

Suncorp Life selects Charles River compliance tech

21 September 2012  |  1593 views  |  0 Source: Charles River

Charles River, a front- and middle-office investment management solutions provider, today announced that Suncorp Life, the life insurance and superannuation arm of Suncorp Group, has selected Charles River for hosted investment compliance monitoring.

Charles River will provide Suncorp Life with a hosted deployment of the Charles River Investment Management System (Charles River IMS) compliance solution, allowing it to focus on core strengths and business strategy while Charles River manages the software and infrastructure. Suncorp will benefit from complete investment transparency, reduced risk and better visibility through centralised and automated compliance monitoring. This will allow Suncorp to monitor counterparty and issuer exposure and credit risk.

Robert Raffo, senior manager investment analytics at Suncorp Life comments, "With customers in Australia, we required a highly-scalable compliance solution that could effectively support complex account structures including fund-of-funds, fixed income and derivatives; as well as monitor specific duration mandates and credit ratings across the Group. Charles River met all of our selection criteria and will enable us to take a more active role in managing our risk and exposures while ensuring investor funds are managed in-line with Suncorp's internal rules and those of the regulators.''

"Insurance and pension firms are a key element of our global client base," said Cameron Field, managing director-APAC, Charles River. "Keeping up with changing regulations requires specifically-designed technology. We originated as a compliance solution provider over 25 years ago. Compliance remains a core component of our enterprise solution, helping firms like Suncorp Life, our 25th client site in Australia, meet specific requirements."

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