AmBank Malaysia turns on Murex risk tools
Kuala Lumpur-based AmBank will use Murex tools to manage risk
AmBank, a Malaysian bank part-owned by ANZ, has installed a Murex risk management tool to help meet regulatory and reporting requirements as well as improve internal oversight.
The new MX3 risk tools will help the bank to oversee its risk management activities for fixed income. Installed over a period of eight months, the system covers historical value at risk calculations, stress testing, back testing, market limits monitoring, compliance checks, risk aggregation and regulatory reporting.
“A thorough due diligence and proof of concept preceded our decision to shift away from our former system to Murex, whose capabilities we were already familiar with,” said Nigel Denby, chief risk officer at AmBank. “Besides the benefits of leveraging current installations, we wanted to make sure this new risk installation will provide a significant leap ahead by delivering the most advanced market risk features.”
Australia and New Zealand Banking Group is a major shareholder in AmBank, which has recently been in the news for its surprise prizes to customers. Earlier this month, a couple from the north-western state of Penang received £3,966 unexpectedly for making a deposit at the bank in January.
Established in 1975, the bank runs approximately 200 branches from its base in Kuala Lumpur. It also covers conventional and Islamic financial services including retail, commercial, transaction, corporate, investment and institutional banking services.
