By Kuwait, January 16, 2012: Gulf Bank announced today the successful installation of its new Enterprise Risk Management System from SunGard, one of the world's leading software and technology services companies. This state-of-the-art system was completed on schedule in December 2011. Consultants from Sungard and AFS, their Bahrain-based Middle East distributor, worked closely with the Bank on this project.
Gulf Bank's use of SunGard's system will be for five separate risk management streams, namely, Capital Computation under Basel II for credit, market and operational risks, Asset Liability Management (ALM) & Funds Transfer Pricing (FTP), Market Risk Management, which covers the banking and trading books, and Operational Risk Management.
Mr. Saleem Sheikh, Chief Risk Officer and General Manager
of Risk Management at Gulf Bank said: "We are delighted to
be the first Bank to implement the full suite of SunGard's
Enterprise Risk Management system, and even more delighted
that we have done so on schedule. It has proved to be a
challenging task but through the dedication, commitment and
hard work of several individuals in the project team we
were able to complete it on time. I would like to extend my
thanks and gratitude to all those responsible for this
success as it is an important milestone for us as at Gulf
Bank and it raises the bar in Risk Management standards in
Kuwait.
Upon a more critical review Mr. Andreas Hug, General
Manager Ambit Risk & Performance at SunGard stated: "We are
pleased at the timeliness and success of the implementation
of our system with Gulf Bank. Our Enterprise Risk
Management solutions will enhance the Bank's overall
performance through the efficient systems now in place and
will assist the Bank's teams in making more accurate
decisions while reducing risk, all in a transparent
manner."
Commenting further, he stated that the implementation at
Gulf Bank was one of the fastest and the best that their
team had seen in the region.
The usage of this new system by Gulf Bank, the first bank
in Kuwait to have the full suite of SunGard's solutions,
will help provide a more centralized view of risk and
liquidity across many of the Bank's key functions. The
multiple functions this system provides will in turn help
Gulf Bank to make more informed decisions and thus maximize
returns over both short-term and long-term fiscal horizons.
Overall, every aspect of this system is designed to assist
Gulf Bank continue to deliver superior banking solutions
and services, which are being constantly tailored to cater
to the needs of its wide customer base. It reflects the
success of the Bank's disciplined business strategy across
all its key business groups instilling a greater chance for
future growth and prosperity throughout the consumer,
corporate, international and investment banking sectors.
Mr. Saleem Sheikh, Chief Risk Officer and General
Manager of Risk Management at Gulf Bank
| distribué par | Ce noodl a été diffusé par Gulf Bank of Kuwait KSC et initialement mise en ligne sur le site http://www.e-gulfbank.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-16 07:10:42 AM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
