EBS Building Society has successfully gone live with Misys Almonde, a compliance and performance management solution, to address the requirements of Basel II.
“EBS Building Society is committed to meeting both the spirit and the letter of the new Basel requirements.” says, John Fitzgerald, Basel II Programme Manager at EBS Building Society, “EBS will also benefit from the ‘value add’ features of Misys Almonde, with the ‘scenarios’ functionality in particular helping us to explore hidden risks and opportunities.”
Misys Almonde has been designed specifically for financial institutions that require Basel II compliance.
It covers the full range of regulatory and business requirements, from advanced data management through to reporting. Misys Almonde combines risk-weighted asset (RWA) and credit risk mitigation (CRM) calculations with structured processes, audit trails, data modelling, data storage, stress and back testing, regulatory/ management reporting and analysis tools.
“We have worked closely with EBS to provide it with an integrated ‘Basel II in a box’ solution, which smoothly interfaces with its existing systems, delivering it hassle-free Basel II compliance in the most cost-effective manner.” says, Trevor Holford, Misys Almonde Product Manager at Misys.