Bank Pocztowy S.A. has opted to use Wolters Kluwer to provide its risk management software solution. The Polish retail bank will use OneSumX for risk management in the following areas – Asset and Liability Management (ALM), Market Risk, Liquidity Risk, and Credit Risk, for the Basel III capital charges calculation. The firm will also use Wolters Kluwer to provide Funds Transfer Pricing (FTP) analysis and Stress Testing on top of all functionalities.
OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance, increasing organizational profitability, efficiency and growth.
The ALM component is based on Wolters Kluwer’s integrated data architecture and is a truly enterprise-wide risk solution. It enables balance sheet modeling, risk measurement and management as well as regulatory compliance. The bank will use Wolters Kluwer’s solution to help manage Market Risk which provides an integrated view of profit and loss and risk on its balance sheet, both from a risk and a business unit perspective.
Wolters Kluwer’s Liquidity Risk capabilities, meanwhile, combine a risk management/stress engine and regulatory reporting platform, which enables the firm to monitor, manage and report liquidity risk. And the Credit Risk component will allow the bank to calculate its Basel III capital charges, using the standardized approach for measuring credit risk.
“We required a provider who inherently understands the myriad of risk management obligations today’s banks face,” commented Magdalena Nawara, director of Bank Pocztowy’s Risk Management division. “We are taking a fully automated approach with daily risk management and profitability calculations and monthly analysis for Basel III, using the Wolters Kluwer solution to ensure we have access to leading risk management capabilities.”
“We have enjoyed considerable success across EMEA with our OneSumX solution in recent months, and we are delighted that, as a long term customer, Bank Pocztowy has chosen to remain part of the growing list of major financial services firm to choose Wolters Kluwer for its risk solution,” comments Kris Van Bavel, vice president, EMEA Sales, at Wolters Kluwer. “We very much look forward to working with the bank as it implements the solution as part of its automated approach to daily risk management.”
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Small Business, CT Lien Solutions, Corsearch, Datacert, ELM Solutions, GainsKeeper®, NRAI, OneSumX®, TyMetrix®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.