Third Financial Software, a technology company focussed on delivering proactive software solutions to the wealth management community, today announced the development of a new risk management module, in conjunction with Hal Hovland, CEO, e-portals.
The new solution will deliver a summary of risk information to investment managers, using automated alerts to keep abreast of risk exposures. This is the first integrated risk engine for the wealth management community, enabling users to access Value at Risk (VaR) statistics in real time, through a single view. It delivers the most vital data to senior management, removing the need to delve into complex underlying cashflow statistics.
The new module is being developed in conjunction with e-portals, run by Hal Hovland and will be part of the new generation tercero Investment Management Solution. The IPR for the new module is owned by Third Financial Software. It is designed to calculate VaR scenarios in real-time, providing risk and performance analytics and greater transparency into clients' risk exposures - keeping in line with ever changing regulatory and compliance requirements. The analytics are also integrated into tercero Alerts, the proactive desktop alerts technology, enabling updates to be made to managers on the move, via mobile devices.
It is imperative today that any wealth management software solution has risk management capabilities built in as an integral part of the application. This allows wealth managers to focus on managing investors portfolio's, whilst having the confidence of knowing the system is proactively tracking complex risk exposure scenarios and ensuring compliance rules are met," says Stewart Foster, director and founder, Third Financial Software. We have partnered with the pre-eminent developer of risk solutions. Hal Hovland, who has over 35 years experience designing some of the markets most respected solutions, he will continue to help us expand the powerful risk management functions within tercero."
The VaR engine will provide a variety of risk metrics that can be sliced and diced to provide views of performance and risk analysis over multiple time horizons in a simple display. Three dimensional aal charting and graphing capabilities provide a flexible and immediate view of data in any format. In addition, the system can interface to internal and external data sources such as spreadsheets or other remote systems.
Hal Hovland, CEO, e-portals states: "The partnership has enabled us to merge innovative technology and risk management metrics with the needs of the wealth management community. Historically, senior managers haven't had the luxury of up to the minute risk information, or the time to extract the most pertinent data from disparate risk platforms. As a third generation technology vendor, Third Financial Software uses the most contemporary underlying technology - without which, this development wouldn't be possible. I fully expect that this project will be a great success as wealth managers demand a one stop shop to manage the investment and risk lifecycle."