The life insurance and superannuation arm of Australia’s Suncorp Group, Suncorp Life has chosen Charles River hosted investment compliance monitoring, in an effort to provide its clients with increased transparency and reduced risk.

Suncorp Life investment analytics senior manager Robert Raffo said, "With customers in Australia, we required a highly-scalable compliance solution that could effectively support complex account structures including fund-of-funds, fixed income and derivatives; as well as monitor specific duration mandates and credit ratings across the Group."

"Charles River met all of our selection criteria and will enable us to take a more active role in managing our risk and exposures while ensuring investor funds are managed in-line with Suncorp’s internal rules and those of the regulators.”

The front- and middle-office investment management solutions provider will offer its centralised and automated compliance monitoring service, the Charles River Investment Management System (Charles River IMS) compliance, to enable Suncorp Life to concentrate on its core strengths and business strategy.

Charles River will manage the software and infrastructure, while Suncorp will monitor counterparty and issuer exposure and credit risk.

With over $95bn in assets, Suncorp Group has around 16,000 employees, relationships with nine million customers and manages Personal Insurance; Commercial Insurance; Vero New Zealand; Suncorp Bank and Suncorp Life.

Charles River has more than 350 clients in over 42 countries in the institutional asset and fund management, alternative investments, wealth management, insurance, banking, pension and custody markets.