Limited Resources and Increased Regulatory Scrutiny Drive Need for Expertise
Reval Center™, the outsourced treasury services offering of leading global derivative risk management and hedge accounting solutions provider Reval, has seen an 88% increase in business in 2009. Reval reports that much of Reval Center’s activity can be attributed to downsized treasury departments seeking expertise in hedge accounting and valuations amid an increasingly stringent regulatory environment.
“Treasury and accounting departments at banks and non-financial corporations are severely understaffed, and are so at a time when auditors have stepped up their requirements for documentation and credit-adjusted valuations,” says Reval ceo and co-founder Jiro Okochi. “Having the flexibility to outsource sophisticated tasks makes a lot of sense for companies in this environment. As the economy and hiring picks up, companies can either continue to outsource to Reval Center or take the solution in-house so that clients don’t miss a beat on maintaining transaction data and reporting.”
Reval Center experts use Reval’s award-winning Software-as-a-Service (SaaS) Web-based solution to deliver fast and reliable outsourced service, making it easy for companies to use the solution later, on their own, as they scale their portfolios or internal resources. Recognized globally as the leading derivative risk management and hedge accounting solution, Reval® is used by three of the Big 4 accounting and advisory firms and is SAS 70 Type II compliant.
Reval Center uses validated, independent market data and battle-tested financial analytics and models to provide independent valuations of financial instruments from plain vanilla to exotic. It also provides hedge accounting documentation and effectiveness testing and measurement to meet the financial reporting guidelines of derivative accounting standards FAS 133, IAS 39, EIC 173 and CICA 3865 and offers reporting under FAS 157, FAS 161 and IFRS 7.
With Reval Center, companies can also obtain objective and expert opinions on a broad range of hedge accounting and derivative valuation issues from the elite team of experts comprising Reval’s Hedge Accounting Technical Task Force (HATT) and its Financial Engineering Group.
