Source: IT&e Limited
IT&e Limited (ASX code: "ITE" AIM: "ITEL"), a leading provider of financial software and consulting services to the global financial markets, is pleased to announce that the Federal Home Loan Bank of Pittsburgh (FHLBank Pittsburgh) has successfully implemented and gone live with IT&e's RAZOR risk management solution.
Additionally, FHLBank Pittsburgh plans to utilize the RAZOR Enhanced Reporting Module, which will be implemented in the next phase of their credit risk management systems upgrade initiative.
Elizabeth Cates, Chief Credit Officer at FHLBank Pittsburgh commented, "We are very pleased that our business teams, internal IT group, and IT&e's implementation specialists have successfully delivered this solution both on-time and on-budget. Our ability to monitor and manage counterparty exposure will be significantly enhanced through the use of RAZOR, and we will continue to look for ways to leverage this solution to monitor our trading and hedging activities. Our decision to license the Enhanced Reporting Module was based on our favorable impression of the RAZOR software and the ongoing need to efficiently address both internal and regulatory reporting requirements."
John Groetch, COO of IT&e in North America noted, "Working with the FHLBank Pittsburgh credit and IT teams over the past several months has proven to be a very rewarding experience, and we're very proud to have partnered with them to successfully deliver this project. The goal of providing accurate and comprehensive counterparty exposure measurement on an integrated, bank-wide basis has been realized, and we are excited about further opportunities to make use of RAZOR within their risk management program."