Launches New Suite of Risk Management Software
Conning, a global investment management
firm and financial-risk modeling software company, has released Version 6.6 of
its suite of risk management software products. The offering includes the
ADVISE Enterprise Risk Modeler, FIRM Portfolio Analyzer, and GEMS Economic
Scenario Generator (ESG).
6.6 includes a new model of sovereign contagion risk, meaning that the
propagation of crises between different bond issuers is realistically reflected
in the ESG, the firm explains. The new version also expands on Conning’s “User
Views” functionality with additional models and capabilities being added to the
Real-World Recalibration Tool. The new suite also sees the introduction of
calibration for corporate credit spreads by rating class, municipal bond
spreads and sovereign yields with credit risk, as well as functionality for
directly setting the correlation between some key variables. Clients will continue
to have the capability to calibrate to tenor-specific targets and a wide choice
of levels, moments, and statistics across multiple time horizons.
need for risk managers to confidently and reliably calibrate our software’s
increasingly sophisticated economic models has been broadening and shows no
sign of easing up,” says Dr. Hal Pedersen, a director of Risk Solutions for
Conning. “With insurers coping with risks that we have not seen before, the
release of Version 6.6 addresses a critical area of risk management modeling.”
the new features in Version 6.6 are accessible in an automated setting via the
Conning command-line interface.
always view modelling, and calibration in particular, through the prism of
automation, and look to advance on these fronts simultaneously,” says Dan
MacKenzie, managing director of Software Product Management for Conning. “Risk
management modeling continues to grow in both in scope and frequency, making it
increasingly important to have applications that can be updated and processed
reliably and efficiently.”
more information about Conning’s suite of risk management software products,
visit its website here.
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