NEW YORK, October 13, 2016 – AxiomSL, a global leader in risk management, regulatory compliance and data management for the financial services industry, has announced that Kenneth (Ken) Lamar, former senior vice president, senior advisor to the director of research and head of the statistics function at the Federal Reserve Bank of New York, has been appointed to the company’s board of advisors.
Ken Lamar will advise AxiomSL’s senior leadership on a wide array of best practices including risk data aggregation and reporting, regulatory compliance as well as implementation challenges affecting financial institutions.
Lamar joins the AxiomSL board after several decades holding various roles at the Federal Reserve, during which time he initiated and supervised most of the New York Fed’s data management and quality assurance-related programs and built relationships with other financial regulators, industry groups, technology firms and other key participants in the financial services ecosystem.
During the last eight years as SVP, Lamar focused on reporting for primary dealers, the foreign exchange (FX) and derivatives markets, as well as legal entity identification. Most recently, he provided insight on data management related to several areas crucial to AxiomSL’s core product offerings, including banks’ financial risk stability and capital adequacy, data lineage and governance, data reporting, clearing and payment, and counterparty credit exposure.
“With his unparalleled experience at the Federal Reserve and intimate familiarity with data management at the world’s largest banks, including many of AxiomSL’s clients, Ken was a natural fit for AxiomSL’s advisory board,” says AxiomSL CEO Alex Tsigutkin. “His insight will be invaluable as we continue to develop and deploy new solutions for financial services’ most complex regulatory, operational and technical challenges.”
“AxiomSL is truly a unique technology provider, and I am delighted to join its board,” adds Ken Lamar. “Today’s regulatory environment, particularly with respect to capital adequacy, credit and liquidity risk reporting, means that financial services firms must leverage robust technology and forward-thinking with a flexible approach. Having watched AxiomSL in action for many years, I know they bring just this kind of mindset and expertise to our industry, and I look forward to working with them.”
AxiomSL is the leading global provider of regulatory reporting, data and risk management solutions for financial services firms, including banks, broker dealers, asset managers and insurance companies. Its unique enterprise data management (EDM) platform delivers data lineage, risk aggregation, analytics, workflow automation, validation and audit functionality.
The AxiomSL platform seamlessly integrates clients’ source data from disparate systems and geographical locations without forcing data conversion. It enriches and validates the data, and runs it through risk and regulatory calculations to produce both internal and external reports. The platform supports disclosures in multiple formats, including XBRL. The unparalleled transparency offered by the high-performance platform gives users the ability to drill down on their data to any level of granularity.
AxiomSL’s platform supports compliance with a wide range of global and local regulations, including the Dodd-Frank Act – CCAR, Basel III capital and liquidity requirements, IFRS 9/CECL, FATCA/CRS, EMIR, FDSF, BCBS 239, Solvency II, AIFMD, central bank disclosures, and both market and credit risk management requirements. The enterprise-wide approach offered by AxiomSL enables clients to leverage their existing data and risk management infrastructure, and reduces implementation costs, time to market and complexity.
AxiomSL was awarded The Asian Banker’s 2016 “Best Compliance Risk Technology Implementation of the Year” as well as “Best Implementation at a Sell-side Firm” in the 2016 Sell-side Technology Awards. It was voted Best Reporting System Provider in the 2015 Waters Rankings and was highlighted as a ‘Category Leader’ by Chartis Research in its 2015 Sell-side Risk Management Technology report. The company’s work has also been recognized through a number of other accolades, including success in the Best Reporting Initiative category of the American Financial Technology Awards and in the Customer Satisfaction section of the Chartis RiskTech100 rankings.
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