Learn how SimCorp's solutions helped the bank improve their STP rate and reduce operational risks
The Central Bank of Trinidad and Tobago is the key monetary authority, managing the investment operations, of Trinidad and Tobago’s foreign exchange reserves.
Wendy D’Arbasie, Manager, Reserves and Domestic Market Management for the Central Bank of Trinidad and Tobago shares how SimCorp was able to efficiently implement both its full front to back integrated solution as well as a separate cash management system which provided the straight through processing the bank needed and resulted in overall reduced operational risk.
Manager, Reserves and Domestic Market Management at The Central Bank of Trinidad and Tobago
When we implemented SimCorp in 2017, one of our key objectives would have been to reduce our operational risk in the management of the reserve portfolio. That implementation has gone well and we have certainly seen the benefit of reduced operational risk since we have that straight through processing from the front office, to middle office where we have the performance and compliance management, to back office settlement and accounting, so it has achieved its overall objective.
Manager, Reserves and Domestic Market Management, The Central Bank of Trinidad and Tobago
About the Central Bank of Trinidad and Tobago
The Central Bank of Trinidad and Tobago was established via an Act of Parliament (Act 23 of 1964) on December 12, 1964. The Bank’s purpose is to promote monetary, credit and exchange policies necessary to foster monetary and financial stability and public confidence and that would be favorable to the economy of Trinidad and Tobago. Some of the main responsibilities of the Bank include managing the country’s foreign exchange reserves, protecting the external value of the currency and acting as banker for the Government of Trinidad and Tobago. For more information, please visit www.central-bank.org.tt.