Technology and Transparency Converge
CIO Risk Management Solution Providers Magazine
Alexander Tsigutkin embraces the change in weather and finds it exciting to engage in seasonal sports. His next destination is Utah, home to world-renowned ski resorts, where he plans to navigate the tricky snow banks while skiing downhill. In order to relish in such an event that involves speedy maneuvers, risky passes and shallow dips, Tsigutkin plans well in advance, making sure to carry the required protective gear and educates himself on the survival tactics needed to avoid any unwanted risk. Known among his acquaintances as Alex, this risk management professional and CEO brings the same pro-active attitude and work ethic to his company, AxiomSL, the leading financial services technology solution, providing enterprise-wide infrastructure and analytical applications in the areas of data integration and warehousing, financial and energy risk management, regulatory reporting, compliance and financial.
Today, capital markets professionals are focused on managing the new regulations and organizations are seeking technology tools to empower them with a cost-effective operational platform in order to monitor risks and regulatory reporting requirements. AxiomSL’s robust and flexible solution meets the latest and ongoing regulatory reforms. The platform’s unique approach consolidates data from various core financial and risk applications without any data conversion, allowing for greater efficiency and leveraging on existing systems and processes. It provides multidimensional analysis capabilities via disaggregation of a whole portfolio risks and exposures, into those of its components to the lowest level of granularity of position and risk factor and it supports multiple submission formats including XBRL.
“As the regulatory landscape continues to evolve, our strategic, datadriven platform provides customers with the transparency and flexibility they require to manage risk and regulatory compliance,” said Tsigutkin. “In addition, our business logic rules give managers the control, power and ability to address changes without being dependent on technical resources.”
‘Numerous regulatory challenges, one solution’ is what Tsigutkin largely believes in and as such, while most software companies create a stand-alone tool for each new data management requirement, AxiomSL’s integrated platform enables firms to seamlessly map, aggregate, calculate and enrich the data while delivering the level of granularity and transparency required by the regulators. The complex data integration and management challenges organizations face are starting to centralize their strategic intelligence, knowledge base and business logic rules. This comprehensive offering has the ability to interface non-intrusively with all upstream and downstream systems empowering business and IT professionals with a means of communicating business intelligence and organizational requirements.
AxiomSL’s solution is built to serve a variety of global financial institutions including banks, alternative investment and insurance sectors. Its integrated platform enables the U.S. banks to meet the Comprehensive Capital Analysis and Review (CCAR) requirements mandated by the Federal Reserve Board. This quarterly and annual filing is a complex and data intensive exercise in asset risk evaluation. To file CCAR, firms require flexible data management infrastructure, like the one provided by AxiomSL, with seamless and completely transparent data and application environment which tracks data and process work flows, calculation formulas/rules and aggregation parameters, and underlying source data.
“Our unique enterprise solution meets evolving regulatory reporting and risk requirements across multiple jurisdictions and regulators on a single integrated platform with full transparency on clients’ source data,” said Tsigutkin.