It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. In short, to ensure that collateral operations and technology both support these regulatory margin requirements using the SIMM, and to be ready by the deadline, financial institutions need to look at the collateral management process front to back and holistically, across these several dimensions, and make sure an appropriate level of governance is put in place. The 2022 Risk Technology Awards recognised products and services that helped firms steer through the Covid-19 pandemic, a testament to the winners' resilience in the face of unprecedented disruption and the key role they play in today's markets. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. MX.3 offers an enterprise-wide solution for global credit risk management. This agile foundation brings together a specialized set of business process to deliver regulatory. Have handson work experience of Java, Spring, ORacle and Sybase db. The latter builds upon a battle-tested market risk engine, which already serves dozens of banks for Basel 2.5 approved internal VAR and stressed VAR models. It leverages a pay-as-you-go model and infrastructure elasticity. Remote. Each regulatory solution is a stepping stone to another. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. As IM regulations are being phased-in until 2020, we see a lot of institutions focusing on initial margin as a post-trade down-stream process. Sensitivity generation requires the ability to project and compute sensitivities across various predefined risk factors (rates, credit, fx, equity and commodities). Remote. With SA-CCR, when collateral management is managed within the same MX.3 platform, the exposure-at-default (EAD) measure can be reduced in real-time while improving accuracy and reliability. It covers internal market risk; fundamental review of the trading book (FRTB); X-valuation adjustment (XVA); standardized approach for measuring counterparty credit risk (SA-CCR); credit risk and initial margin (IM). Accenture has been helping Murex clients transform their front, middle and back office operations and risk management functions, including collateral management and treasury operations, for more than 20 years. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. MX.3s fully integrating platform model enables streamlined collaboration across all departments. The industry has widely adopted the ISDA Standard Initial Margin Model, which is a parametric Value-at-Risk model that involves the aggregation of sensitivities across various risk factors (similar to the FRTB standardized approach). Facilitate bank liquidity risk analysis, control and reporting. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. What are the New Trading Trends and Opportunities in 2023? All business objects come with standard data management functionalities (e.g., lineage, extension capabilities, audit, four-eyes validation) and can be synchronized with external repositories. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. Monitor exposure in real time and pre-deal. Regulatory solutions like FRTB-SA, FRTB-IMA, SA-CCR and initial margin (IM) come with prepackaged regulatory content that facilitates reporting on multiple jurisdiction requirements. Across all our clients, we are seeing collateral data reinforced as being key across various departments: not only from a VM and IM calculation and processing perspective, but also for pricing, trading and risk management. Classify these sensitivities, according to the SIMM rules, possibly relying on an external utility providing such classification services. Full-Time. DFA, Volcker Rule .) Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. Facing a quickly evolving regulatory environment, MX.3 enables clients to stay ahead, across various processes: Collateral management, with uncleared margin rules, Transaction Regulatory Reporting, with the coming major rules review (e.g., EMIR refit, CFTC rewrite). From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs without recalculation. What are the New Trading Trends and Opportunities in 2023? Corporate and retail activities can be integrated in MX.3. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. With automated and integrated business processes, including trade management, document management, risk calculation, reporting and sub-ledger functionality, this solution helps reduce operational risk by providing: Smart designation of hedges by traders and product control with pre-defined strategies, Specific events (e.g., de-designation, rebalancing, refresh) with a full audit trail, Retrospective and prospective effectiveness measurements using various qualitative and quantitative methods, Dashboard to monitor effectiveness and P&L impacts of designated hedges, Automatic generation of documentation with hedge characteristics, A process for bucketing macro-hedge relationship flows and optimization of asset and liability usage, Prepackaged and customizable hedge accounting schemas, dedicated reporting tools and live screen reporting. Strong professional with a BE degree focused in Information Technology from K.J. MX.3 helps control capital costs. Larger firms, for whom initial margin requirements have been phased in since September 2016, tend to have a more decentralised risk infrastructure. Overview Our Software Murex and the Cloud What We Think Case Studies Overview Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. The solution also supports the computation and transfer of funding valuation adjustment (FVA) for derivatives transactions. Answer (1 of 3): Three options: 1- get hired by Murex: they have offices throughout the world (Paris, New York, Beirut, Singapore, Sao Paolo, Shangai, ). It enables proactive intraday monitoring, as well as introspection with what-if and drill-down analysis through dedicated dashboards. The full job description is as follows: Location: Jersey City, NJ. Extend the usage of securities as collateral. [2] This new version has been in effect since the end of 2017. 04 Aug 2022. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . MX.3 simplifies post-trade with all products, from high-volume FX cash to complex over-the-counter derivatives, managed on a robust, single platform. This includes calculation of bilateral BCBS/IOSCO WGMR margin rules. In a nutshell, a SIMM project involves various parties (front-office, risk, operations, legal) and different technology capabilities along those functions, so one of the challenges is to set up the right project governance model. Q: How can firms ensure that their collateral management operations and technology are able to support SIMM? MX.3 maximizes STP, decreases operational risk, and enhances operational control. All rights reserved 4 5. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Somaiya COE, Mumbai | Learn more about Sachin . Banco de Crdito e Inversiones - Chile, Calypso project ene. Murex Explores How Digital Assets, DLT Might Reshape Digital Landscape, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, LIBOR Transition Preparing for the Final Year, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor. Stress-testing supports historical scenarios as well as the design of hypothetical adverse scenarios, leveraging criteria-based shifts and proxies, addressing risk management and regulatory purposes such as stressed risk measures. Mizuho Optimizes XVA Desk through MX.3 Extension. You are part of a cross technical and functional agile team, where you . It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. The solution offers a centralized inventory of all securities that come from fixed income and equity cash business lines, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. NAB Significantly Improves Performance by Migrating MX.3 to AWS, Pavilion Energy, Upskills, Murex Deploy MX.3 to Azure, Leading Mexican Bank Banorte Strengthens Credit Risk Management Practices, Rabobank Achieves Strategic Transformation with Murex MX.3, BIBD Embraces Murex Solution for Bank Treasury with Islamic Finance, Momentum Metropolitan Migrates, Upgrades MX.3 to AWS, Murex Enables NCB to Meet Complex SA-CCR Requirements, ABN AMRO Relies on Murex and smartTrade to Automate the Full FX value Chain, Krungsri (Bank of Ayudhya) Manages Higher Volumes, Rapidly Scales with Murex, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor, Murexs Philippe Helou Discusses IBSi Sales League Table 2022 Win, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, IBSI FinTech Journal August 2021 - The Big Interview. Breaches are routed to a proper investigation and resolution of causesthis provides efficiency to the risk controller. Positions are natively represented to serve different business processes. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. The solution covers credit valuation adjustment (CVA), debt valuation adjustment (DVA), funding valuation adjustment (FVA), initial margin valuation adjustment (MVA) and capital valuation adjustment (KVA). Our clients have diverse requirements. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service (BPaaS) offering for intensive computation. Exceptions are handled manually from a dashboard with a birds eye view. Risk managers play a key role in securing the performance of their organization. Murex training with murex online course, corporate course, support, end -user training by top best expert consultant with hands-on experience at reasonable price with flexible timings murex training Follow Advertisement Advertisement Recommended Nivethitha_Murex and Manual Testing_7 yrs Nivethitha Balasubramanian 1k views 7 slides Users can monitor a wide variety of investment compliance rules on any business dimension in real time, pre- and post-trade. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. The solution enables bank-wide monitoring of nostro balances in real time. Murex provides enterprise-wide, cross-asset financial technology solutions. MX.3 enjoys the widest instrument coverage in the industry, from flow to complex products. New York, NY. Break silos. Having one system removes the need to develop and maintain many interfaces. The solution features an IFRS 9 compliant hedge accounting module that provides end-to-end management of both micro and macro hedging from real-time hedge proposition, designation to daily effectiveness measurement and impact on accounting results through reclassification entries. Posted 9:29:01 PM. Murex is a global fintech leader in trading, risk management, and processing solutions for capital markets. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. With 300 clients and 57,000 users spread across 60 countries around the world, Murex has a truly international client base of capital markets participants. Finance teams operate in a complex world of multiple currencies, across multiple legal entities with multiple accounting schemas. This hybrid deployment model allows Murex clients to avoid costly hardware buys and answers regulatory constraints linked to sensitive data. These include Basel, IFRS/FAS, ASC 815/ASU 2017-12, IBOR Reform, SWIFT transition to ISO20022 cash messages, EMIR, Dodd-Frank and SFTR. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. The complexity of these risks leads to ever-more-intensive computational needs, which require enterprise risk management software. In October 2021, Murex's MX.3 platform was implemented at . Operations are no exception. Integrate front-to-back-to-risk offices. and business. Regulations have had a dramatic impact across all business processes within capital markets. It brings risk figure consistency across regulatory solutions, such as CVA capital charge, counterparty credit risk risk-weighted assets (RWA), central counterparty (CCP) charge, large exposure reporting or leverage ratio. This enterprise risk management software is used by a large and diverse range of market participants to meet regulatory requirements including Basel III, Dodd-Frank, European market infrastructure regulation (EMIR) and Volcker. It interacts with third-party deal capture systems. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. Learn more about how to achieve internal and external business process digitalization. NAB Significantly Improves Performance by Migrating MX.3 to AWS, Pavilion Energy, Upskills, Murex Deploy MX.3 to Azure, Leading Mexican Bank Banorte Strengthens Credit Risk Management Practices, Rabobank Achieves Strategic Transformation with Murex MX.3, BIBD Embraces Murex Solution for Bank Treasury with Islamic Finance, Momentum Metropolitan Migrates, Upgrades MX.3 to AWS, Murex Enables NCB to Meet Complex SA-CCR Requirements, ABN AMRO Relies on Murex and smartTrade to Automate the Full FX value Chain, Krungsri (Bank of Ayudhya) Manages Higher Volumes, Rapidly Scales with Murex, Build Accurate Rate Curves in an Inflationary Context, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, IBSI FinTech Journal August 2021 - The Big Interview. They can manage fair value and accrual P&L in one system, monitor the risk and execute economic or accounting hedges. It facilitates proper risk management, transparency and governance. The powerful MX.3 cash flow engine strengthens the solution by generating contractual flows and estimates future flows across all asset classes, enabling real-time monitoring of liquidity ladders. Experience Murex 7 years 9 months Consulting Manager Jan 2022 - Present1 year 2 months Singapore - Project stream lead for Operations, Collateral Management and Finance for greenfield. Posted: February 28, 2023. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. ComDer Clearing House - Chile, Calypso project . Accenture has been helping Murex clients transform their front, middle and back office operations and risk management functions, including collateral management and treasury operations, for near 30 years. Leverage innovation, scale and amplify with the power of the cloud. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). FRTB-SA, SA-CCR, initial margin (SIMM) and CVA capital charge (SA-CVA) solutions are systematically validated by Murex against ISDA unit tests, which can be rerun by clients on their own environment. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. MX.3 evolves with accounting market practices and its integrated nature allows any new products to be easily handled and speedily released to trading teams. It provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. $136,000 to $150,000 Yearly. MX.3 interfaces with market and reference data providers, multi- and single-dealer platforms, affirmation and clearing, repo management, collateral, settlement and transaction regulatory reporting. This is a challenging task because of the variety of products that needs to be covered and validated, and it requires trading and risk platforms to: Represent and model key collateral data from the CSA agreements, such as scope of product and applicable jurisdictions. It supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations, all of which can be computed both with full revaluation as well as Taylor-based calculations. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. Innovate and improve customer experience and personalization. cross-currency swaps). Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. It computes incremental XVA costs and sensitivities in real time and pre-deal, while structuring new trades. In addition to entries posting at transaction level, it supports concurrent inventory cost methods (e.g., FIFO, AVP, cherry picking) with robust capabilities to drill down to the contributors of the position providing accessible, reliable, transparent data. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. The enterprise risk management solution builds on the MX.3 platform. Experience of front to back/risk trade lifecycle, trade workflow, business functionality. It interacts with third-party deal capture systems. Operating from our 19 offices, 2500 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is used by banks, asset managers, corporations and utilities, across the world. XVA P&L can be fully broken down by various effects such as time decay, market (e.g., forex, interest rates or spreads movements), trade and market operation effects. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. It became apparent that we had the right chemistry to build such a long-term strategic partnership, and the Murex solution provided the opportunity to simplify our systems architecture, build a single, fully integrated front-to-back solution for all our treasury needs. Based on a modern technology stack, the solution supports several deployment models, such as cloudAmazon Web Service and Microsoft Azureon-premises or with managed service in SaaS. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. A centralized, robust and automated framework, MX.3 for Collateral Managementis compliance-ready for uncleared margining rulesand provides a consolidated view of asset inventory in real-time. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. Smaller firms that will phase in between now and 2020, generally have a more centralised way of managing the process from sensitivity generation across asset classes down to margin calculation and so on. Alex Rojas Full Stack Developer - Javascript (ES6), MongoDB . Multiple payment methods (e.g., gross, net, CLS, DVP, FOP, PVP, pre-delivery) and channels (SWIFT, over account, RTGS), Real time view of nostro cash and security accounts for intraday settlement and next day projections for accurate funding and security inventory monitoring, with interfaces to reconciliations tools. P&L is calculated on the official position scope models and market data within MX.3, following market standards to assist in accounting standards compliance. It provides the optionality to apply advanced treatments for exotics instead of conservative approximations (e.g., breaking down a cap/floor transaction into individual caplets for each flow). Our Murex services include system transformation, DevOps enablers, cloud, continuous testing, upgrade and managed services. This flexible solution enables Murex clients to benefit from continuously improved functionalities without having to upgrade their own MX.3 solution. A wide variety of long-term liabilities is made available for issuances desks with MX.3's native support for fixed income products and enhanced structuring capabilities. MX.3 centralizes collateral processing across entities and business lines. It leverages front and risk computation engines for valuations, accruals and amortizations to ensure consistency and simplify reconciliation efforts. MX.3 addresses two main principles. Alternately, P&L can be imported from other system sources, with the ability to correct and enrich the figures in MX.3 (e.g., adjustments, reserves) and recalculate on demand. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. Murex has more than 57,000 daily users in over 60 countries. Ensure financial resilience. greater new york city area. Our clients have diverse requirements. We provide end-to end project services and have delivered over 200 successful Murex projects across all major asset-classes and sectors including investment banking, asset management, corporate treasury and insurance. Murex invested early in regulatory risk solutions, and has been following evolutions with clients ever since, often offering updated packages for legacy installations to meet overlapping and shifting regulatory deadlines. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. Collateralization & typical portfolio mix An institution's OTC portfolio will commonly contain a mix of: - Bilateral CSAs with 0 threshold and daily margining (cash) - Positions cleared on CCPs : daily or intraday exchange of Variation and Initial Margin - CSAs with asymmetric terms One-way with SSAs Over-collateralized agreements (IAs, We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. The Search for a True, Front-to-Back, Modular Vendor Offering . MUREX SAS ("Murex"), the leading provider of cross-asset trading, risk, and back-office solutions, announces the release of its fully overhauled MX.3 for Collateral Management solution, designed to better support sell-side and buy-side financial institutions in creating an effective pre- and post-trade collateral optimization framework. Simultaneously, achieving cost savings and control of operational risks is a conundrum. Development/Support in Murex Collateral Management. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. Location: Jersey City, NJ Vendor Offering integrated nature allows any murex collateral management products to be calibrated a. In real time valuation adjustment and funding valuation adjustment to the finest calculation inputs recalculation. And enables cost savings with a birds eye view, and the model. Accuracy and rich product coverage, trade workflow, business functionality system, the! To achieve internal and external business process to deliver regulatory murex Practice.! Adjustment and funding valuation adjustment to the finest calculation inputs without recalculation and. Bilateral BCBS/IOSCO WGMR margin rules project ene and unique product innovation across 19 locations who provide cutting-edge,... 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