Tags: agile implementation, C/ETRM Implementations, Commodity Energy Trading and Risk Management -Etrm, configuration and development, documenting requirements, enterprise implementations, enterprise software, return on investment, software updates
Companies undertaking implementation of C/ETRM systems seek to reduce the risk of delays and exceeding budget. Actively collaborating creates a foundation for finding effective solutions and an environment where both vendor and customer have skin in the game and failure is not an option. To accommodate this process, following an iterative implementation methodology such as an Agile process is imperative. This approach provides flexibility and adaptability to changes that invariably arise during the process and is designed to deliver small “wins” that demonstrate success, project momentum and therefore a positive customer experience.
Tags: asc815, asc820, best credit risk system, Commodity Energy Trading and Risk Management -Etrm, Credit Risk Software, credit value adjustment, CVA, derivative accounting, DVA, FAS 133, FAS 157 compliance reporting software system, Pioneer Solutions, regulatory compliance, TRMTracker
Written by Uday Baral, Pioneer Solutions’ President/CEO
Are you prepared for financial regulations related to Credit Value Adjustments and Fair Value Disclosure?
Two counterparties are taking market risks as they enter into a trade. In addition, they are also taking credit risks against each other, due to counterparty default (i.e., counterparty credit risks). Credit risks should be adjusted appropriately with credit/debt value adjustments (i.e., CVA/DVA) in order to reflect the adjusted value of the portfolio.
The FASB and IFRS accounting standards require fair value adjustments, due to credit risks. These requirements are dealt with in ASC815 (FAS133) and ASC820 (FAS 157) FASB standards in the US. Similarly, IFRS standards IFRS7, IFRS9 and IFRS13 define these requirements. Fair value hierarchy disclosure is also required by both FASB and IFRS standards.
While the concepts of these requirements are simple, proper implementation could not be more complex. Because of this, companies will require a solution that requires tight collaboration among market and credit risks and derivative accounting processes/solutions.
Tags: back office, Best Ctrm Software, Best ERM software system, Commodity Energy Trading and Risk Management -Etrm, CTRM, Ctrm-Etrm decision support software solution, energy events, Energy Risk, energy risk policy & procedure, Energy Risk USA- Houston, energy-risk usa, Pioneer announcment news and events, Pioneer announcments news and events, Pioneer News, Pioneer Solutions, TRMTracker
It is that time of year again—Energy Risk USA 2013 is rapidly approaching and associate sponsor, Pioneer Solutions, is eagerly preparing for what is expected to be a great event. The 17th annual Energy Risk USA will take place May 14-15th at the Hilton Houston Post Oak in Houston, Texas. Preand post-conference workshops will take place May 13th and 16th, respectively.
This year, representatives from Pioneer will be on-site to answer questions and discuss their next generation C/ETRM solutions.
Tags: Best Ctrm Software, Commodity Energy Trading and Risk Management -Etrm, Credit Risk Software, credit VaR, Crystal reports Etrm-Ctrm software system, Ctrm system, Enterprise risk management-ERM software attributes, erm software system, Etrm business case, justification for a new system, SAS Ctrm system
Why Companies Should Implement an Energy Trading & Risk Management (ETRM) System?
- The goal of implementing an ETRM system is to improve the bottom line performance of a corporation through superior business insight while capturing, normalizing, managing and mitigating risk proactively.