AWS Financial Services Webinar Recap: Highlighting Fortitude Re’s Success with Numerix & AWS

Understanding and managing risk in today’s complex financial landscape is not a minor undertaking. With the volume of financial data growing exponentially, and regulatory frameworks consistently expanding, risk management professionals are now searching for robust risk solutions that empower them to make real-time decisions. 

A recent Amazon Web Services (AWS) webinar, Risk Management Analytics: Turning Uncertainty Into Opportunity, explored innovative strategies and tools for transforming risk into a competitive advantage. Featured speakers included Craig Vogel of Fortitude Re and Arsen Arutyunov from Numerix, who shared their insights into best practices and innovation in financial risk management, including how Fortitude Re leverages Numerix for precise insights that fuel enhanced risk decisions. Below, we summarize the key takeaways from this engaging session. 

Rising Challenges in Financial Risk Management 

The modern financial ecosystem is defined by an increasing volume of data and growing complexity in risk exposures. These factors make traditional risk management methodologies inadequate for addressing today’s challenges, including:

• Data Deluge: Financial services firms cope with immense data flows, requiring better processing capabilities.
• Regulatory Pressures: Global compliance requirements demand accurate and timely reporting.
• Risk Exposures: Dynamic market conditions heighten the risks associated with stale risk analytics and delayed decisions and outdated models.  

Turning these challenges into opportunities requires businesses to adopt next-generation strategies powered by cutting-edge technology, including cloud-based solutions and advanced analytics.

Leveraging Cloud-Enabled Risk Management 

The webinar emphasized the role of cloud technology in streamlining and automating risk functions. AWS and Numerix highlighted their capabilities in enabling financial organizations to innovate while maintaining regulatory compliance. One benefit of cloud technology is centralized data repositories, which provide a single source of truth, enabling near real-time analytics.  Additionally, high performance analytics powered by scalable cloud infrastructure enables firms to stay ahead of evolving demands, while automated risk reporting simplifies compliance and reduces operational risk.

Numerix and AWS Partnership Background 

Through its strategic partnership with AWS, Numerix delivers powerful, scalable, and secure financial technology to clients worldwide. By leveraging a fully cloud-native architecture and SaaS-based delivery of advanced analytics, we provide clients with faster time-to-value, reduced infrastructure costs, enhanced scalability for large datasets, and the ability to perform real-time risk calculations and scenario analyses—empowering faster decision-making.

Numerix’s cloud-native products, including Oneview and NxCore, are deployed globally on AWS, supporting compliance with regulatory requirements. Additionally, AWS supports Numerix’s business continuity with robust disaster recovery and high availability infrastructure. Learn more about our unique partnership in this blog: Our Experience Towards AWS Adoption

How Fortitude Re is Optimizing Risk Management using Numerix 

Webinar speaker Craig Vogel shared how his firm, Fortitude Re, sought new technology when the firm needed to scale market risk and investment infrastructure to accommodate new acquisitions of life and annuity products. “We needed a vendor that could provide us with advanced analytics outside the scope of what we could grow internally. By partnering with Numerix, we were able to leverage their in-depth knowledge and expertise in derivatives and implement risk management and PnL attribution for a very large variable annuity business.” Stakeholders at Fortitude Re sought a solution that would both accommodate their immediate needs of existing business, as well as position them for future expansion. 

^{Craig Vogel, Fortitude Re explains his firm’s vision for a risk solution.} 

Craig went on to explain that through leveraging Numerix Oneview, the firm has been able to introduce synchronization between the front and middle offices, ensuring that both teams are working with the same accurate data on a daily basis. Fortitude Re receives intraday calculations from Numerix, allowing the risk management team and traders to quickly hedge and determine their risk positions on a net basis, fueling good risk decisions.  

“By having a consolidated system, we have been able to increase our efficiency and prevent the need to hire more people to build in-house solutions, which has been critical to maintaining our nimble structure.”

-Craig Vogel, Fortitude Re

Actionable Insights for Modern Risk Management

The webinar wrapped up with a powerful reminder: effective risk management is now a strategic advantage, not just a regulatory requirement. To build resilience, firms should centralize their data to break down silos and enable faster decisions, embrace cutting-edge analytics for sharper risk assessments, and automate reporting to reduce errors and boost efficiency. 

Leveraging advanced, cloud-based platforms can help scale these efforts. Ultimately, staying competitive means continuously evolving your risk management tools and strategies to keep pace with market change.

Watch the Webinar on Demand

Whether you’re focused on credit risk, model risk, market risk, or even operational risk, the ability to turn uncertainty into opportunity hinges on the adoption of innovative tools and approaches. 

If you're looking to go deeper into these insights, the full recording of Risk Management Analytics: Turning Uncertainty Into Opportunity is available on demand. Hear directly from market experts about how to harness advanced tools for risk transformation.