The solution will be integrated with Wolters Kluwer Financial Services’ Regulatory Reporting capabilities, currently implemented at the organization’s operations in France, Hong Kong, Luxembourg, Singapore, Spain and Switzerland. The Financial Risk Management solution will enable the bank to perform asset and liability management, liquidity risk, market risk and capital calculations at head-office level.

Pictet required an integrated and scalable solution that provides automated ALM, liquidity risk and market risk capabilities through a centralized data model, with limited manual intervention in order to reduce operational risk. Wolters Kluwer Financial Services was selected ahead of the organization’s previous risk management system, due to the provider’s strong capability to provide numerous types of indicators, such as incomes, VaR, Gaps, capital requirements and liquidity ratios on one singular platform. Pictet also appreciated the ability to address various other business and regulatory needs in the form of stress scenarios, dynamic simulations and reporting with the solution.

“Wolters Kluwer Financial Services’ integrated platform provides us with the ability to conduct more advanced risk measures and handle multiple positions, including complex derivatives, enabling a more in depth understanding of our trading risk portfolio in particular, as well as add additional finance capabilities, such as funds transfer pricing and consolidation at a later date,” said Emmanuel Duterme, Risk Manager at Pictet. “Following a successful track record of providing regulatory reporting services to our business, we have first-hand experience of the knowledge and expertise that Wolters Kluwer Financial Services brings to the table. This combined with the Risk solution’s strong functionality, which included impressive dynamic simulation results; integrating the solutions on one platform made sense fromng the solutions on one platform made sense from both a regulatory and business stand point.”