PRESS RELEASE London, July 26th 2012
TRANSKap is a web-based application which provides an end-to-end solution for gathering underlying asset holding data of collective investments and reporting risk management information, including the capital requirements for market risk stresses. The process is fully auditable and results are reported in a way that will both add value to users’ business operations and meet the ‘line by line’ reporting requirements stipulated by Solvency II regulation. Global Actuarial is working with Morningstar UK Ltd., a leading provider of independent investment research and data, to ensure that the look-through data required to perform market stress calculations are available and of the highest quality possible. Provided data fields include the Complementary Identification Code (CIC) of each individual holding.
TRANSKap is configured for Standard Formula stresses, but can be integrated with existing client systems for Internal Model calculations.
In addition to the capabilities of the technology, Morningstar and Global Actuarial provide an ongoing service solution. Any user queries regarding data will be forwarded directly to Morningstar, where teams and developed processes are in place for the collection, cleansing and validation of data for accuracy and completeness. Global Actuarial will provide support for the application and work with clients should they desire customisations.
Andries Beukes, FIA, Director of Global Actuarial says, “…risk managers and regulators in the financial services industry demand accurate information to be delivered under far tighter deadlines than ever before. This movement has been spurred on by the high market volatility that has been experienced in recent years. Our goal was to develop a practical tool that could deliver a standalone solution, but which was also flexible enough to integrate into technology where an Internal Model had been adopted.”
Launch event: London, Thursday, September 27th
Contact Global Actuarial for further information
About:
Global Actuarial – Global Actuarial is a specialist consultancy, which delivers practical advice and solutions in the fields of actuarial services, operational excellence and technology solutions. Backed by a management team with over 40 years’ experience in the financial industry, Global Actuarial delivers and develops solutions which are not only backed by technical expertise, but which also offer the flexibility of a modern practice. By designing efficient business processes and systems, performing the required actuarial calculations, and educating management and staff Global Actuarial help clients add value to their business.
Morningstar– is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 380,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 8 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its registered investment advisor subsidiaries and has more than $190 billion in assets under advisement and management as of March 31, 2012. The company has operations in 27 countries.
Global Actuarial Contact Information:
Angela Aylett, Director of Marketing +44 (0) 7702 918 861
Andries Beukes FIA, Managing Director +44 (0) 7702 918 862]]>
