Asset Control, Red Swan Risk provide integrated asset management risk service

By Sunniva Kolostyak

Data management provider Asset Control and risk management provider Red Swan Risk have partnered to provide an integrated security master and model risk service for asset managers.

Red Swan Risk, developer of standardised market risk data management and business processes for hedge funds and asset managers, is including Asset Control’s managed service offering PaSSPort in its multi-asset class portfolio risk management solution RiskON.

The collaboration means asset managers will get access to a managed service with data mastering, data analytics and tools to model risk.

The RiskON platform provides a seamless aggregation of portfolio holdings data with security level risk and reference data using a unified data model. By gaining access to the security master as-a-service PaSSPort solution, asset managers will be able to cut down on time spent collecting, mastering and cleansing data.

The scalable data management system exposes full data lineage and clients will be able to extend the scope of PaSSPort beyond the RiskIN use case and into the enterprise.

Nathan Wolaver, MD of the Americas at Asset Control, which specialises in data quality software solutions for financial data, said the firm can play a key role in helping users easily verify data quality.

“Teaming up with John Matwey and the team at Red Swan Risk is a great way to leverage PaSSPort to help clients take advantage of RiskON suite of analytics tools, but to do so in a sustainable framework that delivers operational advantages that can easily be extended beyond the initial use.

He added: “This example is further proof of our capabilities in proving a trusted foundation for partners that are looking to accelerate their delivery timelines and give their clients an easier operating model.”

Hedge funds, pension funds, funds of funds, asset managers and banks need to manage model risk with increasingly more control and transparency. This is done across data inputs, model configuration, statistics, stress scenarios, reporting and analysis. Moreover, front-office risk management and back-office oversight both benefit from the capabilities.

John Matwey, Founding Partner of Red Swan Risk, commented: “Asset managers face an ongoing struggle to manage model risk challenges including model selection, model configurations, market data, and reference data. Together with Asset Control, Red Swan can provide more powerful tools for validating and managing the critical reference data that impacts model risk. We are excited to work with Nathan Wolaver and the team at Asset Control to make it easier for our clients to deal with these challenges.”