DST Global Solutions (DST), a technology solutions provider to the investment management industry, is set to establish a centre of excellence for risk management. DST had earlier announced that it is investing more in R&D for solutions such as Askari, its risk management offering.
This is the next stage following the company’s re-launch and its new management structure. The centre of excellence will be run by Jill Douglas, Global Head of Risk, who will lead the team at a crucial time in risk management.
An August 2008 report from the Counterparty Risk Management Policy Group (CRMPG III) noted that the magnitude of losses seen at many firms indicated that their stress testing methodologies needed refinement, were not consistently applied, were too rigidly defined, or were inadequately developed.
Jill Douglas, Global Head of Risk at DST Global Solutions predicts: Institutions that do not undergo a cultural shift in their approach to risk management could suffer further losses and damage to their reputation. Senior management and third parties, such as investors, now require evaluation of business risks, asset allocation and broader stress testing, not only to quantify the impact of exceptional events, but also to uncover the firm’s or portfolio’s vulnerabilities. To help meet this need, we are establishing a centre of excellence for risk management.
