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Portfolio and Risk Management Systems: Trends, Priorities, and Technology Strategies

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30 November 2010
Cubillas Ding

Abstract

Celent urges trading and investment firms to make smart investments towards superior market risk capabilities and systems to navigate the stormy conditions ahead. Reliance on bare standards from regulation is not sufficient.

The persistently fragile state of the banking system since the crisis and the trading environment in many developed markets have profoundly changed risk management operations. The practice continues to evolve, at the desk and enterprise levels. Current implementation efforts are designed to properly address the failures uncovered by the crisis, cater to emerging regulations, and strengthen risk management practices on the front line.

Markets remain volatile (despite riding higher), and sustainable growth remains uncertain. Forward-looking firms are driving both offensive and defensive efforts to streamline core business/IT and front- to middle-office risk management processes to achieve timely, data-driven, and risk-aligned decisions. This has resulted in the need to enhance and, in some instances, rearchitect next-generation risk technologies. Accordingly, technology vendors are refining their products.

In this report series, Portfolio and Risk Management Systems, Celent examines how market risk and trading functions continue to evolve, as well as what solutions and capabilities financial firms are moving towards.

“Despite the progress, what we have observed is that many of the responses to improve market risk processes, IT, governance, and controls have fallen prey to delivering short-term, often tactical priorities involving existing systems and their limitations,” says Cubillas Ding, Research Director at Celent and author of the report.

“Firms would do well to avoid falling prey to delivering what is ‘pragmatic and achievable’ as a knee-jerk reaction and instead, weigh best practice, longer-term priorities for the future,” he adds.

This multi-part series is a resource for firms delivering to requirements for regulatory change and market risk improvement programmes in the broader context of trading and investment risk. It should also aid firms selecting, implementing, or building out their trading risk applications and market risk systems. This report examines strategic perspectives related to technology architecture and application gaps and improvement areas. Finally, the report provides insights into solution dynamics and their impact on firms that select third party solutions.

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