Kamakura Corporation announced today that Basel-based Syngenta International AG has signed for the Kamakura Risk Manager enterprise risk management system.
Syngenta is one of the largest agribusiness companies in the world. At Syngenta, Kamakura Risk Manager will be used for market risk management and for meeting the hedge accounting requirements of International Accounting Standard 39. Fiserv's IPS-Sendero risk management software division will provide systems integration for the project, a role IPS-Sendero has performed in KRM installations in locations from Germany to Ireland, Cyprus, Thailand, Riyadh, and England.
"Syngenta runs one of the most sophisticated international treasury operations in the world," said Warren Sherman, Kamakura President and Chief Operating Officer. "The integrated approach that Kamakura has taken in the design of the Kamakura Risk Manager system allows for simulation, both looking forward and looking backward, of cash flows, financial accruals, and credit-adjusted option-adjusted valuation. This is a general framework that has credit portfolio management, market risk, asset and liability management, performance measurement, and capital allocation as special cases. We are gratified that a major industrial corporation like Syngenta has adopted KRM in a way that takes full advantage of these capabilities for market risk and IAS 39."