Dynamic and versatile professional with deep expertise in Finance and Banking, specifically in a Middle-Office/Trade Support/Operations environment, at a Team Management and Leadership level, including Operational Risk Management, Data Analysis and Automation responsibilities. As a result, we have significantly improved our STP rates and streamlined our processes. Innovate and improve customer experience and personalization. They provide risk forecasts and help trading to take risk-informed decisions from inception. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. More. Murex Recent Developments. risk management, collateral, operations, finance, investment management and treasury. $136,000 to $150,000 Yearly. It eliminates unnecessary reconciliation between the front and back offices. 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. Mizuho Optimizes XVA Desk through MX.3 Extension. Facilitate bank liquidity risk analysis, control and reporting. The last piece of the process, margin call processing, has similarities with the variation margin process, but it comes with some specificities: in particular, once firms have agreed with their counterparties on the amounts of initial margin and additional collateral, they are then generally relying on tri-party agents to fulfil their collateral requirements. Corporate and retail activities can be integrated in MX.3. Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. 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. Transactions are processed directly after booking. Many MX.3 ERM solutions come with prepackaged regulatory content to accelerate project implementations. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. 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. MX.3 offers a genuine end-to-end trade life cycle management with a high-performing straight-trough processing (STP) framework. #murex #riskmathics #latam #fintech #traditionalbanking . MX.3 can be deployed on-premises or on the cloud. It has been an impressive journey with Murex as they continued to invest in all parts of their MX.3 platform, not just the front-office piece for which we originally used them. Risk control can monitor the SA-CCR in addition to the existing CEM framework in a single system. Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. Strong professional with a BE degree focused in Information Technology from K.J. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. As an example, 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 its accuracy and reliability. Smaller firms use our platform front-to-back, and need not only to generate CRIF-formatted sensitivities, but also rely on our capabilities to compute initial margin, and use our collateral operations to generate margin calls. Firms will need to be able to comply with these basic SIMM calculation models, and methodology reviews, and maintain these calculation calibrations on a yearly basis. A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. MUREX S.A.S. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. Some of the built-in ledger functions include FX management, which balances calculations with the ability to book balance adjustments, as well as accounting periods management and automated feed to the general ledger. Risk managers play a key role in securing the performance of their organization. MX.3 functional coverage meets them. MX.3 addresses two main principles. They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. Control total cost of ownership. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. The solution features an automated framework for collateral processing that covers margining, allocation, dispute, substitution, cash and securities settlement, and accounting. It computes incremental XVA costs and sensitivities in real time and pre-deal, while structuring new trades. It covers a wide range of analytical exposures, including pre-settlement, lending, issuer, country and concentration risks. Manage market risk for trading and banking books in one system. Build Accurate Rate Curves in an Inflationary Context. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. de 2016 - jun. Participated in the Implementation of Murex Collateral Management System. As the dust starts to settle for firms that have put the deadline behind them, these firms are looking more and more at the impact of such margins on the value chain of trading. Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. Supported Traders, Risk Managers and Support teams on client-side to help them leverage on Murex functionalities to optimize operations and reduce time to market new financial products . 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). 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. Regardless of whether MX.3 is used as an end-to-end enterprise solution or a building block, its integration capabilities enable straightforward integration into an existing system landscape. It eases standard-compliance checks and solution validation by regulators. 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. Financial institutions have entered a digital race. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. In 2019, the collateral management and OTC derivatives processing vendor solutions space is dominated by two questions from a Tier I and Tier II investment bank selection process perspective: Experience of front to back/risk trade lifecycle, trade workflow, business functionality. Because all cash transactions are transferred into a single account at Eurex Clearing, segregation is achieved on the clearing house level using the record-keeping of Eurex . Seize market opportunities. Build Accurate Rate Curves in an Inflationary Context. Monitor exposure in real time and pre-deal. MX.3 supports improved STP rates by enabling connectivity to key market utilities such as Acadiasoft Margin Manager and Initial Margin Exposure Manager (IMEM). Mizuho Optimizes XVA Desk through MX.3 Extension. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Mizuho Optimizes XVA Desk through MX.3 Extension, 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, 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, Bankdata Details Largest Re-platforming Program, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, MX.3 Enterprise Risk and Regulatory Suite. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. New York, NY. Operating collateral management in a centralized manner across bilateral and cleared OTC, listed derivatives, repo trading and securities lending reduces operating costs and makes it easier to optimize collateral inventory use. 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. Murex is a global fintech leader in trading, risk management, and processing solutions for capital markets. Knowledge of collateral management a big plus but not a must. Integrate front-to-back-to-risk offices. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. Collateral Management Implementation Stream Lead at Nationwide Murex Jun 2014 - Aug 2015 1 year 3 months. MX.3 can be managed by the customer or delivered in SaaS by Murex. MX.3 supports full compliance with uncleared margins rules (UMR) across jurisdictions, from the full support of ISDA SIMM and schedule-based initial margin calculation methodologies, down to connectivity to key tri-party agents and third-party custodians. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. It automates and controls the banks value chain. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. Development of Collateral Management related work (including some MxML/Exchange Workflows). Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. "This data should be synchronised with positions, market data and settlement events from multiple sources and legal entities, solving the fundamental collateral management challenge of timely data aggregation. 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. A common data model allows the solutions to seamlessly interact with one another. 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 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. It specializes in all asset classes while managing collateral, margins, and OTC positions. In summary, before, repos in Murex meant you like making your life a challenge. P&L and P&L attribution can be validated altogether, with trader sign-off and official reference P&L crystalized and published to trading, risk and for sub-ledger reconciliation. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. de 2016. Discover opportunities posed by regulatory requirements. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Clients can opt for a fully managed SaaS approach on a private or public cloud. MX.3 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. Our clients have diverse requirements. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan 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. #fintech #technology #DigitalBanking. Rahba: The new version of the SIMM, 2.0 introduces risk factors for three product types volatility indices, quanto CDS and municipal swaps and includes a full recalibration of parameters (correlations and risk weights). Eliminate manual processes and increase straight-through processing rates. Collateral operations: once firms are equipped with capabilities to compute regulatory-compliant initial margins, they need to update their collateral processes to ensure these margins get settled on time. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. The solution enables capital management via risk-weighted assets (RWA), including exposure-at-default either with a standard (e.g., SA-CCR) or internal model method (PFE with IMM waiver), CVA risk charge and central counterparty (CCP) capital charge calculation. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Positions are natively represented to serve different business processes. Model validation and implementation: firms can either use a schedule-based method, or a model with margins that meets a 99% confidence level of cover over a 10-day standard margin period of risk. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). Bank treasuries face enormous challenges as they cope with evolving standards and regulations. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. Extend the usage of securities as collateral. From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs without recalculation. Ensure financial resilience. MX.3 offers an end-to-end enterprise-wide solution used by more than 120 customers across all tiers to meet regulatory requirements. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. It automates the entire calculation chain with the full data set to improve accuracy. Its MX.3 platform is engineered to meet evolving challenges. This enterprise-wide solution, used by more than 150 customers across all tiers, has a broad range of analytical and simulated methodologies, such as Monte Carlo potential future exposure (PFE). Achieve regulatory compliance. 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. Achieve operational excellence with a single cross-asset platform that streamlines standard and bespoke processes. Its powerful Monte Carlo engine simulates counterparty credit risk measures. 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. It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. DFA, Volcker Rule .) Collateral pay-off function : - Risk-free value of the collateralized portfolio at the re-margining date - Thresholds, Minimum Transfer Amount, Independent amounts, rounding rules - Outstanding balance - Haircuts applicable to the collateral asset Copyright 2011 Murex S.A.S. MX.3 for Collateral Management overcomes inefficiencies in your organizational management by offering a single framework for enterprise-wide margining, optimization, regulatory compliance and collateral trading. Risk management team head for Murex Korea Ltd (Seoul Office) : - First worldwide end to end implementation of Murex new Enterprise Collateral Management solution at a Tier 1 Korean bank. Development/Support in Murex Collateral Management. Consistency is enforced by a shared reference data repository and a common calculation framework. MX.3 for Collateral Management | Murex Home Insights MX.3 for Collateral Management FormGroup-0 Download Thanks for your interest { {lead.First Name}} Not you? This flexible solution enables Murex clients to benefit from continuously improved functionalities without having to upgrade their own MX.3 solution. 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. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. Have handson work experience of Java, Spring, ORacle and Sybase db. MX.3 is the integrating capital markets platform Discover MX.3 Sales and trading Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. MUREX optimizes and integrates trading, risk management and settlement into a package that . 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. Operations are no exception. Extend the usage of securities as collateral. 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. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. 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. 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. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. Our Murex services include system transformation, DevOps enablers, cloud, continuous testing, upgrade and managed services. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. Consent * It is exception-based. Download our MX.3 for Enterprise Risk Management brochure. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. The solution supports local and specific conventions across markets worldwide, including Islamic finance and Latin America particulars, among others. Murex 3 View on IT architecture In-house Package FIER Market Risk Data Warehouse triResolve Portfolio Reconciliation Intellimatch Reconciliation . MX.3's flexible structuring tool and adaptable configurations make it simple for end-users to extend coverage to additional structured products on the fly. MX.3s fully integrating platform model enables streamlined collaboration across all departments. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. MX.3 addresses the requirements of modern treasuries. Sibos 2022: Listen to Rabobank, Murex and Accenture as they provide perspectives on the opportunities of IT re-platforming. It provides accurate credit risk measures (e.g., issuer lending, notional, pre-settlement, settlement)across all asset classes. 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). It delivers seamless pricing, cost allocation and risks transfer. Overview. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. 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. 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. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Aug 2013 - Jun 20162 years 11 months. Development of Collateral Management related work (including some MxML/Exchange Workflows) Build new reports/extractions . Seamlessly connect in batch and real time. Q: How different is version 2.0 of SIMM compared to the previous version? 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. Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. Consistency is enforced by a shared reference data repository and a common calculation framework. 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, ). Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. It is an integrating platform to optimize liquidity management, precisely measure risk and control operational cost. The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. They can manage fair value and accrual P&L in one system, monitor the risk and execute economic or accounting hedges. For example, firms might want to put in place some risk control procedures and limits to closely monitor how far they are from the initial margin threshold. Similarly, they need to provide benchmarking results, comparing SIMM to another model (e.g. So it should not be underestimated. Improve efficiency and cost-effectiveness. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. In October 2021, Murex's MX.3 platform was implemented at . 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 interacts with third-party deal capture systems. Beyond the automation capabilities enabled, which include margining, allocation, settlement and accounting, MX.3 is designed and uniquely positioned to provide integrated functions: optimize allocations according to cheapest to deliver, maintain enterprise inventory of securities, integrate with securities finance, refine XVA pricing and risk management and comply with regulations such as SFTR and SA-CCR. Finance teams operate in a complex world of multiple currencies, across multiple legal entities with multiple accounting schemas. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). Central management enables consistent and efficient monitoring of intraday limit usage. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Learn more about the event here: http://bit.ly/3XITM8J Full-Time. MX.3 functional coverage meets them. Retrospective dashboards summarize excess causes and resolution time and keep top management informed. greater new york city area. 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. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. MX.3 offers strong analysis capabilities to risk officers. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. The solutions powerful workflow framework for trade, settlement and confirmation processes produces extremely high level of automation along the entire value chain. Of course, there are variations with readiness and the degree of work required to get up to speed with margin rules and SIMM 2.0 depending on the size and shape of the firm itself. 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. 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. MX.3 runs each process in a fully automated manner, such as routing or exception checks based on a set of predefined rules. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. Dania Fakredin-Viatte Co-Founder at DayOm Paris. Rahba: Firms need to embark on quite a long and complex journey to get their organisation and collateral management procedures up to speed with the phase-in of initial margin regulations. Maintained up to date through a local regulatory watch, it enables clients to adapt more quickly to regulatory changes and ensures that solutions support Basel standards exceptions. Posted 9:29:01 PM. 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, Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. 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