SunGard has been selected by leading banks in Mexico to help manage their operational risk. SunGard’s 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. Institución de Banca Múltiple, Banregio Grupo Financiero; Banco Monex, S.A. Institución de Banca Múltiple, Monex Grupo Financiero; Banco Autofin Mexico, S.A. Institución de Banca Múltiple 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. SunGard’s 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.
Ana Cecilia Reyes Esparza, president of the OpRisk Committee at the Mexican Banks Association and head of risk management at Grupo Financiero Ve por Mas, said: “We believe that by adopting better operational risk principles and practices, we can manage our economic capital more efficiently. SunGard’s Ambit Risk & Performance solution provides a platform to help us accomplish this. We chose it because it’s a proven, mature solution that we’re confident will give us a better understanding of where our risk resides.”
Andi Hug, group vice president for SunGard’s Ambit risk and performance business, said: “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. SunGard’s 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.”