Poland’s largest bank implements SS&C Algorithmics’ Fundamental Review of the Trading Book solution
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that PKO Bank Polski has implemented its Fundamental Review of the Trading Book – Standardized Approach (FRTB-SA) solution. SS&C’s FRTB solution is designed to address the Basel Committee on Banking Supervision’s market risk-related capital requirements for the Standardized and Internal Models approaches, which go into effect in January 2023.
With EUR 80 billion in assets, Poland’s largest bank is updating its risk management framework. “We selected the SS&C solution for FRTB sensitivities calculation to meet regulatory requirements and align our internal risk measures,” said Paweł Metrycki, Head of Banking Risk Division at PKO Bank Polski. “Using the same software for regulatory and management calculations saves time and eliminates discrepancies between the two processes. Furthermore, leveraging a single technology platform is also a necessary prerequisite to offer attractive hedging solutions to our customers.”
PKO Bank Polski will use SS&C’s FRTB solution to calculate risk sensitivities and provide FRTB-specific calculations and workflows, extensive model coverage, high performance, scalability and extensibility through APIs. In addition, the SS&C Algorithmics Workspace Analyzer (AWA) works with the FRTB solution to provide aggregation, sandboxing and what-if capabilities. PKO Bank Polski also uses SS&C Algorithmics Market Risk and Counterparty Credit Risk solutions.
“With SS&C, one of the advantages we have is computing speed. For example, the amount of time needed to calculate derivatives prices with SS&C Algorithmics technology is unmatched – across many different scenarios and time-steps,” added Piotr Krawczyk, Head of Software Development Division at PKO Bank Polski. “We selected SS&C because of their proven performance track record and our high level of satisfaction with our long-term partnership.”
“We are pleased to extend our long-standing relationship with PKO Bank Polski and provide a streamlined solution to help our clients comply with FRTB,” said Mina Wallace, General Manager, SS&C Algorithmics. “Many of our client banks are preparing for FRTB ahead of the deadline to ensure they can adapt to fast-changing risk management requirements. SS&C is committed to delivering flexible, tested solutions to help clients optimize their regulatory and risk management frameworks.”
SS&C Algorithmics is a global leader in providing solutions to meet FRTB regulations. Learn more here.
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