The Client
Oesterreichische Kontrollbank AG (OeKB) is a specialised institution owned by commercial banks located in Austria. OeKB’s mandate is to support the Austrian economy, offering a uniquely broad variety of services to Austria’s industry and capital market participants. These include services for exports and foreign investments and capital and energy markets services.
The Challenge
OeKB wanted to replace their existing external systems with a next-generation single solution for risk and analytics. To satisfy counterparty risk and IFRS 13 audit requirements, OeKB needed the ability to accurately calculate XVA using sophisticated Monte-Carlo based simulation across all relevant derivatives asset classes. Reporting and clearing requirements under the European Market Infrastructure Regulation (EMIR) also motivated change within the organisation. To enhance market risk practices, the bank wanted to calculate VaR over a one-month time horizon as it was previously calculated on a quarterly basis.
Why Quantifi?
- Supports a full complement of risk measures, including all regulatory metrics, complex scenarios, stress testing, regulatory capital, VaR, sensitivities & XVA
- Full support for enterprise market risk including ‘what-if’ analysis, HVaR & tail measures like expected shortfall
- Efficient & streamlined trade capture
- Consistent valuations across front & back office environments
- Intuitive work flows, including full connectivity layer for CCP clearing
- Flexibility to swiftly respond to regulatory requirements
- Scalable to support future business growth
- Fast and cost effective implementation with minimal technology, operational & implementation risk
“Having conducted a demanding selection process, we chose Quantifi, which we believe offers us a modern and functionally rich strategic platform to modernise and streamline our trading and risk management processes.”
Achim Keuchel, Vice President, Treasury, OeKB
The Results
With its single integrated front-to-middle solution, Quantifi has revamped OeKB’s trading and risk management infrastructure, across several lines of business, to provide new levels of accuracy, usability, flexibility and integration.
Download the complete case study to see how Quantifi was able to support OeKB’s growing business.
