Hermes Fund Managers embarked on an ambitious IT enhancement programme, dubbed Genesis, two years ago. Philip Keeler at Hermes talks to Finextra about problems with RFPs, keeping third parties to a minimum and exit policies in outsourcing agreements at this month's TSAM 2010.
Until very recently, when evaluating counterparty risk banks have had to choose between accessible, timely, simple and less accurate measures of exposure calculated by front office systems and less timely, less accessible but more accurate measures of exposure calculated by end-of-day risk management systems.