Risk Reporting

Business
In February 2009, AEGON Group Risk began the creation and implementation of a robust, transparent and efficient infrastructure for day-to-day Risk Management and Risk Reporting.

Technology
The iWIRC solution incorporates all AEGON Group Security guidelines and uses a completely role-based JAAS (Java Authentication and Authorization Service) security implementation on an LDAP directory service. SecondFloor delivered a system capable of 24/7 availability, flexible report generation and the handling of huge amounts of data from global end-users.

Project
Following our ‘Define, Design, Develop and Deploy’ approach, we began the project with a five day definition study and a four month design and development phase which included two major deliveries followed by UAT. AEGON was able to begin its pilot phase only 12 months after the definition study.

Support
SecondFloor is providing AEGON with 10 years of production support under a Service Level Agreement (SLA), including a 24 hour hotline.

Sources
This worldwide implementation consists of no less than six distinct work streams with SecondFloor, Algorithmics, Deloitte and AEGON IT Services all playing significant roles.

Solution
iWIRC enables Operating Units to replicate their asset and liability cash flows using financial instruments. The resulting replicating portfolios can subsequently be used to rapidly calculate risk figures and provide risk reporting information. These figures are calculated using an Algorithmics calculation engine, with the SecondFloor front end providing the user interface, necessary data transformations and audit functionality. SecondFloor is also building the audit and control mechanisms to AEGON’s specification.

A successful Fixed Price – Fixed Date project by SecondFloor.