On June 15th, Numerix co-hosted with Sybase, an SAP company and MIT Club its first Financial Services Executive Forum in Mexico City. The event, entitled “Risk Management for OTC Derivatives: Changes, Challenges and Best Practices”, drew an audience of nearly a hundred senior executives and industry experts from leading financial services institutions and fund managers.
Photo from left to right: Neil McGovern (Director of Financial Services Product Management, Sybase), Satyam Kancharla (Senior Vice President Global Solutions, Numerix) and Dr. Esteban Martina Boggetto (MIT Alumnus) and finally Fernando Diarte (President of MIT Club of Mexico)
Following a brief welcome address by Fernando Diarte, President of MIT Club of Mexico, three industry speakers each presented risk management from their perspective:
Valuation and Risk Models- Actual and Future Paradigms, presented by Dr. Esteban Martina Boggetto, MIT Alumnus
Risk Management Best Practices: Establishing Analytics Transparency and Consistency from Front to Back-Office, presented by Satyam Kancharla, Senior Vice President, Global Solutions, Numerix
The Role of Data Management Technologies to Achieve Enterprise-wide, Cross-asset Risk Management, presented by Neil McGovern, Director of Financial Services Product Management, Sybase, an SAP Company
First, Dr. Martina Boggetto, an MIT Alumnus and specialist in Risk and Quantitative Analytics and Management for PRO Consulting Partners, shared insights on current valuation and risk model approaches. He went on to discuss how industry trends and regulations may impact these approaches and thereby affect many organizations’ future risk management requirements.
Next, Satyam Kancharla from Numerix explored the challenges and trends in risk management due to changes in regulation in the wake of the recent financial crisis. He underscored that as a result of these new challenges, the siloed approach of the past with different analytics for front, middle and back offices and for different desks, will no longer work. What is needed for sound enterprise risk management, he surmised, is complete analytic consistency enterprise-wide.
The last speaker was Neil McGovern from Sybase, an SAP company. Neil’s presentation described a few practical examples of how organizations are leveraging advanced data management technologies, such as in-memory databases, to improve risk management across all asset classes.
While each speaker spoke from different perspectives on risk management, it was crystal clear they all agreed on one key point: effective risk management now mandates organizations evolve towards a centralized, consistent analytics platform. Towards this end, Numerix and Sybase have worked together to embed Numerix pricing and risk analytics deeper into the systems fabric of larger organizations, via integration to cutting-edge software systems like Sybase RAP (Real Time Market Analytics Platform).
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