SunGard has been selected by banks in Mexico to help manage their operational risk. SunGards Ambit Risk & Performance has been chosen by the banks to help identify, quantify and manage operational risk as well as compliance with Basel II regulatory requirements.
The banks that have selected Ambit include: Invex Servicios Corporativos, S.A. DE C.V. Invex Grupo Financiero; Banco Regional de Monterrey, S.A. Institucin de Banca Mltiple, Banregio Grupo Financiero; Banco Monex, S.A. Institucin de Banca Mltiple, Monex Grupo Financiero; Banco Autofin Mexico, S.A. Institucin de Banca Mltiple and Banco ve por Mas, S.A.
There is a growing awareness in the Mexican financial services industry that changes in regulation have increased the need for sophisticed operational risk tools and policies. SunGards Ambit Risk & Performance will provide enterprise-wide loss event tracking and management reporting tools that will help the banks improve operational efficiency and control their risk exposure.
We believe that by adopting better operational risk principles and practices, we can manage our economic capital more efficiently, says Ana Cecilia Reyes Esparza, president of the OpRisk Committee, the Mexican Banks Association and head of risk management at Grupo Financiero Ve por Mas. SunGards Ambit Risk & Performance solution provides a platform to help us accomplish this. We chose it because its a proven, mature solution that were confident will give us a better understanding of where our risk resides.
Sound operational risk management is now a priority for many Mexican banks because of regulatory changes that are requiring them to implement more sophisticated policies surrounding this function, says Andi Hug, group vice president, Ambit risk and performance business, SunGard. SunGards Ambit Risk & Performance helps banks address risk by offering a toolkit for complying with market, credit and operational risk as well as corporate governance regulations.
L.D.