Odyssey, RiskMetrics Push the Boundaries of Client Risk Management

Stephen Harris

23 September 2008

Global provider of private wealth and asset management solutions and services Odyssey Financial Technologies has signed a strategic alliance with RiskMetrics Group, a leading provider of risk management and corporate governance services to the global financial community.

The partnership has allowed Odyssey the launch of its new Portfolio Risk module, which is powered by RiskMetrics Group, a provider of risk management and corporate governance services to the global financial community.

Odyssey has embedded RiskMetrics Group’s risk statistics, which are made available through a "Software as a Service" model hosted by RiskMetrics as an ASP.

The new module is fully integrated with Odyssey's Triple’A Plus platform and adapted to the specifics of private wealth management and separately managed accounts.

The Portfolio Risk module sets up a risk tolerance to measure and manage risk, using a variety of risk statistics. It also efficiently monitors portfolio risk suitability at enterprise and client/portfolio levels and offers a more standardised, streamlined, disciplined approach to risk-adjusted portfolio management. Financial institutions can then communicate the risk to clients and provide full details in a high quality report.

Didier Pitton, product-marketing director at Odyssey told WealthTechBriefing: "We were driven to partner on this project because we needed clean and consistent data. We have clients in all continents and having a broad coverage of price series is really important. The tie-up with RiskMetrics gives us access to around 70 exchanges and data providers, and around 750,000 time series. We can now cover 60 securities types."

Mr Pitton also told WealthTechBriefing that counterparty risk is now being assessed – a new development for private clients.

"We’re trying to include risk into the wealth management process and to rebalance immediately rather than ex post facto."

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