FRSGlobal

24/01/2010

FRSGlobal shortlisted for “Compliance Project of the Year” at the 2010 FST awards

Download in PDF Format »

London - 24 January, 2010:

FRSGlobal, the only global provider of risk and regulatory reporting compliance solutions on a unified platform with coverage for over 40 countries, today announced that it has been shortlisted for Compliance Project of the Year at the FST Awards 2010 for its Sumitomo Mitsui Banking Corporation (SMBC) Europe liquidity management project. The award ceremony, celebrating its tenth anniversary this year, aims to recognise excellence and innovation in the field of information technology within the UK and EMEA financial sector.

The SMBC Europe liquidity management project included the selection of FRSGlobal’s liquidity solution. The combination of FRSGlobal's stress testing and regulatory reporting will enable SMBC to monitor, manage and report liquidity as well as build and develop a library of stress tests in accordance with the FSA’s requirements outlined in PS 09/16.

FRSGlobal’s liquidity management solution was also ranked joint first for 'Completeness of Offering in the ALM and Liquidity Marketplace' in Chartis market analysis report - as it provides its customers with solutions for all aspects of the new liquidity regime including:

• Regulatory Reporting – For firms to address the nine new regulatory reports/data items for liquidity risk;
• Stress Testing – For firms to conduct regular stress tests in order to identify sources of potential liquidity strain and help fulfill their systems & controls requirements;
• Data Management – For firms to source additional data for reporting requirements;
• Management Reporting – For firms to have a robust management framework in place.

The FST awards are designed to emphasise the importance of IT as a key driver in business and to acknowledge and reward IT specialists working within the sector. The primary criteria for judging are the delivery of definable and significant business benefits, innovation and originality of application. Project management issues, such as the scale and delivery on time and within budget, will also be taken into account.

The tenth annual FST Awards 2010 will be held on 25 March at the Lancaster London Hotel, London. To view the complete list visit http://www.fstech.co.uk/awards/shortlist10.htm.