Software vendor Yolus Limited has deployed an Enterprise Risk Management system for Allianz Group to analyse counterparty credit concentrations across its insurance, asset management, banking and trading operations worldwide.
Built on Yolus' Enterprise Risk Management platform (Y-ERM), the system dubbed ARiES takes exposure data from across the Group to provide a consolidated view of credit exposures in a single system.
Together with Yolus, Allianz began developing the system in Q4 2003 and has spent the last month in user acceptance testing with a number of its subsidiaries.
"The system, which has been developed and refined with the strong support of risk professionals from across the Group, is a state of the art modular system with web based access underpinned by cutting edge credit and information technologies," says Raj Singh, Chief Risk Officer, Allianz Group.
Raj Singh continues, "ARiES enables us to analyse Group-wide credit concentrations at the touch of a button. We have global visibility of our credit exposures and can alert the Group to counterparts at increased risk of default."