Skandia Nordic Selects IT2 TMS
Stockholm-based Skandia Insurance Company has selected the IT2 treasury management system (TMS) to provide an integrated best practice solution to support its cash, treasury accounting and treasury risk management operations.
Henrik Nordansjö, Skandia’s head of treasury, said: “We selected IT2 because the Skandia team determined that this system offers a comprehensive, complete solution for the complex range of financial management, control and reporting issues that confront an international bank and insurance company treasury such as Skandia’s. We are looking forward to working with IT2 and its business partner OpusCapita.”
The Skandia IT2 implementation will provide transparent, workflow-based solutions for treasury functions such as in-house banking, cash concentration, continuous linked settlement, cash forecasting, hedge accounting and the management of bond portfolios. A broad approach to reporting and analysing financial risk exposures will include credit risk management, scenario analysis and value-at-risk (VaR) derivation. IT2 will operate as a treasury control hub, and will be integrated with several complementary systems and services, including:
Additionally, IT2 NET will be used for web-based intercommunication between central treasury and Skandia’s remote business operations, for deal requests; cash/liquidity forecasting, settlement requests and reporting.