Dublin, 05 December 2016

Financial Risk Solutions (FRS) has been named ‘Tech Vendor of the Year: GRC’ in Risk.net Buy-Side Awards 2016.



Risk.net Awards


Dublin-based provider of unit-linked investment administration and compliance oversight software, Financial Risk Solutions (FRS), has been named ‘Tech Vendor of the Year: GRC’ in the Risk.net Buy-Side Awards 2016 at the Sheraton, Park Lane, London yesterday.

Developed by a team of actuaries and IT specialists, the InvestProTM software suite (comprised of InvestGRCTM, InvestProTM, InvestOPSTM) automates and industrialises investment administration and currently manages 160,000 funds for more than 30 life assurance companies with over €100 billion in assets under administration.

InvestGRCTM the Governance, Risk & Compliance module, is used by a number of clients, including Zurich, Prudential, Generali and St James’ Place International to meet their Quantitative Reporting Template requirements under the Solvency II Pillar 3 asset reporting regulations.

Chief Marketing Officer at FRS, Frank Carr commented:

“We are delighted that FRS has been named as ‘Tech Vendor of the Year: GRC’ in the Risk.net Buy-Side Awards. A valuable benefit of using InvestGRCTM as the robust solution for the Solvency II Pillar 3 Quantitative Reporting Templates for the finance department is that the internal/external audit functions, the compliance function and the risk management function all now have a web based business intelligence tool to meet the asset governance and compliance requirements of their firms”.

Risk.net Awards

InvestGRCTM interfaces to Thomson Reuters, Bloomberg and Morningstar for both asset enrichment data and look-through data. It imports asset holdings and trades data from multiple internal systems and third party provider systems into a centralised data warehouse. This data is enriched via interfaces to market data providers. Automated data validation is available to ensure consistency and completeness of data. InvestGRC™ is deployed on-premise or cloud hosted on Microsoft Azure.

2016 - Growing Recognition for InvestGRC™
This year has seen InvestGRCTM nominated for a number of industry awards including the prestigious Irish Software Association Awards (“ISA”) and the Life Insurance International Awards.

The Irish Software Association Awards
The ISA Awards have recognised leaders in the Irish technology sector since 2010 and previous winners have included: IBM Ireland, Google Ireland and Intel. Over 70 tech companies and organisations based in Ireland entered this year’s awards. This year FRS was a finalist in two of the six categories (Digital Technology Services Project of the Year and Outstanding Achievement in International Growth).

Irish Software Association Director Paul Sweetman said:

“The software and digital technology sector in Ireland is thriving. Year-on-year, stellar companies are entering the Awards and 2016 is no exception. More than 70 tech companies and organisations from across Ireland entered this year’s awards and it is the tireless efforts of all in these companies that bring Ireland to the fore of the global technology sector.”

Life Insurance International Awards
FRS was also shortlisted in the Life Insurance International Awards which this year were focused on technological disruption, the threat of new market entrants and significant regulatory change.

FRS was a finalist in the category of Digital Innovation of the Year, recognising the firm’s mission to provide the best and most intuitive technology for investment administration by developing products that continue to meet our client needs and new industry demands in an ever-changing regulatory environment.

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Notes to Editor:

About Financial Risk Solutions (FRS) Founded in 1999 by actuaries and IT specialists, Financial Risk Solutions Ltd (FRS) is a leading provider of unit pricing, investment administration, asset reporting and compliance oversight software specifically designed for the Life Assurance and Asset Management industries. FRS offer a proven range of modular, intuitive technology solutions which allow customers to pro-actively monitor and administer investments as well as mitigate risk by continually monitoring breaches and exceptions to critical investment processes. These solutions include:

InvestPro™ securely automates multiple complex fund administration processes within a single application. InvestPro™ unit-pricing and investment administration software is scalable, modular and flexible.

InvestGRC™ empowers insurers and asset managers to meet Pillar III asset reporting standards in the Solvency II world via a single, analytics-driven database, combining data from internal and external sources.

InvestOPS™ automates the validation of operational activity performed by outsourcing partners, enabling firms to supervise outsourced functions, data and to manage the associated risks. For more information visit www.frsltd.com or follow FRS on LinkedIn.

Disclaimer: The names of actual companies and products mentioned herein may be the trademarks of their respective owners.