AIB turns to Asset Control for risk management

AIB turns to Asset Control for risk management

Allied Irish Bank (AIB) is implementing technology from Dutch vendor Asset Control to centralise risk management operations at its global treasury division.

The vendor says the Turnkey Risk Solution will interface with internal and external data sources and will be used by the bank to manage risk for pricing and curves data on FX, fixed income and derivatives instruments.

Asset Control says the AC Contour risk management module will enable AIB bank managers and analysts to create risk factors by converting data into curves, surfaces, volatilities and co-variance matrices.

The centralised database will reside at AIB's Dublin office and will provide users in New York, Poland and London with access via the AC Desktop.

Ger Rosenkamp, CEO of Asset Control, comments: "Many institutions have multiple databases and a mix of systems which need to be centralised in order to achieve a more auditable, controlled environment."

The system is scheduled to be in full production by September.

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