Adenza to automate AIB鈥檚 regulatory reporting
18 February 2022 New York
Image: David/stock/adobe.com
Adenza, the merger of Calypso Technology and AxiomSL, has announced its selection by the Allied Irish Banks (AIB) to support the bank鈥檚 credit risk, securitisation, leverage ratio and large exposure risk reporting throughout Europe and the UK.
Adenza鈥檚 AxiomSL risk solutions will aid AIB in delivering an automated approach to capital and credit calculations, data management and analytics.
The solution enables banks to manage a range of global regulatory risk requirements. These include global and cross-regional compliance with the rules developed by the Basel Committee on Banking Supervision (BCBS) such as internal ratings-based approaches (IRB) and standardised approach for counterparty credit risk (SA-CCR).
Adenza鈥檚 risk calculation engine is part of the AxiomSL ControllerView data integrity, data lineage and control platform, which allows institutions to ingest external model results, add source data and transform disparate data points into a Basel-driven data dictionary.
Jim Smyth, head of regulatory reporting at AIB, comments: 鈥淎denza鈥檚 AxiomSL centralised and scalable approach to standard and advanced credit risk calculations, enables AIB to meet risk calculations and reporting requirements without the need to reinvent and rebuild new technology each time regulatory obligations change. We felt it was important to work with a firm that can deliver high powered reporting solutions across the regulatory reporting suite for today and in the future.鈥�
Ed Probst, head of strategy regulatory solutions at Adenza, adds: 鈥淏anks are expected to not only produce risk capital reporting results, but also be able to show a clear audit trail. Our data dictionary-led approach to credit risk is allowing AIB and other leading banks to automate risk calculations, drawing on data from across the entire institution, without compromising auditability.鈥�
Adenza鈥檚 AxiomSL risk solutions will aid AIB in delivering an automated approach to capital and credit calculations, data management and analytics.
The solution enables banks to manage a range of global regulatory risk requirements. These include global and cross-regional compliance with the rules developed by the Basel Committee on Banking Supervision (BCBS) such as internal ratings-based approaches (IRB) and standardised approach for counterparty credit risk (SA-CCR).
Adenza鈥檚 risk calculation engine is part of the AxiomSL ControllerView data integrity, data lineage and control platform, which allows institutions to ingest external model results, add source data and transform disparate data points into a Basel-driven data dictionary.
Jim Smyth, head of regulatory reporting at AIB, comments: 鈥淎denza鈥檚 AxiomSL centralised and scalable approach to standard and advanced credit risk calculations, enables AIB to meet risk calculations and reporting requirements without the need to reinvent and rebuild new technology each time regulatory obligations change. We felt it was important to work with a firm that can deliver high powered reporting solutions across the regulatory reporting suite for today and in the future.鈥�
Ed Probst, head of strategy regulatory solutions at Adenza, adds: 鈥淏anks are expected to not only produce risk capital reporting results, but also be able to show a clear audit trail. Our data dictionary-led approach to credit risk is allowing AIB and other leading banks to automate risk calculations, drawing on data from across the entire institution, without compromising auditability.鈥�
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