|[September 20, 2012]
Australian Life Insurance Specialist Suncorp Life Selects Charles River's Compliance Solution for Increased Transparency
MELBOURNE, Australia --(Business Wire)--
River, a front- and middle-office investment management solutions
provider, today announced that Suncorp (News - Alert) Life, the life insurance and
superannuation arm of Suncorp Group, has selected Charles River for
hosted investment compliance
Charles River will provide Suncorp Life with a hosted
deployment of the Charles River Investment Management System (Charles
River IMS) compliance solution, allowing it to focus on core strengths
and business strategy while Charles River manages the software and
infrastructure. Suncorp will benefit from complete investment
transparency, reduced risk and better visibility through centralised and
automated compliance monitoring. This will allow Suncorp to monitor
counterparty and issuer exposure and credit rsk.
Robert Raffo, senior manager investment analytics at Suncorp Life
comments, "With customers in Australia, we required a highly-scalable
compliance solution that could effectively support complex account
structures including fund-of-funds, fixed income and derivatives; as
well as monitor specific duration mandates and credit ratings across the
Group. Charles River met all of our selection criteria and will enable
us to take a more active role in managing our risk and exposures while
ensuring investor funds are managed in-line with Suncorp's internal
rules and those of the regulators.''
"Insurance and pension firms are a key element of our global client
base," said Cameron Field, managing director-APAC, Charles River.
"Keeping up with changing regulations requires specifically-designed
technology. We originated as a compliance solution provider over 25
years ago. Compliance remains a core component of our enterprise
solution, helping firms like Suncorp Life, our 25th client
site in Australia, meet specific requirements."
About Suncorp Group
Suncorp Group is the largest general
insurance group in Australia and second largest in New Zealand and
includes leading general insurance, banking, life insurance,
superannuation and investment brands. The Group has around 16,000
employees and relationships with nine million customers. It is a Top 25
ASX listed company with over $95 billion in assets.
Suncorp has five core businesses: Personal Insurance; Commercial
Insurance; Vero New Zealand; Suncorp Bank and Suncorp Life. These are
supported by corporate and shared services divisions.
Our business strategy is to gain the marketing benefits of a portfolio
of leading brands and the scale benefits that come from a single group.
About Charles River
Charles River provides software and
managed services to automate front- and middle-office investment
operations for buy-side firms. SaaS (News - Alert) solutions, including application
management, data and compliance services, support portfolio
management, compliance and risk monitoring, order
and execution management, and access to global liquidity. The
company has more than 350 clients in over 42 countries in the
institutional asset and fund management, alternative investments, wealth
management, insurance, banking, pension and custody markets.
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