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Buy-side liquidity risk management best practices

Author

Listed:
  • Corbett, Timothy P.
  • Smodis, Sebastjan

    (Vice President, State Street Global Advisors, UK)

Abstract

Asset management activities and liquidity risk management practices have captured the attention of regulators and investors, who have focused on the potential mismatch between the promised liquidity terms in daily dealing open-end funds and the liquidity of the underlying assets in these funds. This paper describes what State Street Global Advisors has learned over the past five years while building out a liquidity risk management framework, including best practices developed to meet fiduciary and regulatory responsibilities. A comprehensive and robust buy-side liquidity risk management framework should incorporate strong governance, real-time measurement and monitoring processes, contingency planning and product suitability reviews, supported by best-in-class liquidity risk monitoring tools and systems.

Suggested Citation

  • Corbett, Timothy P. & Smodis, Sebastjan, 2018. "Buy-side liquidity risk management best practices," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 11(3), pages 207-217, August.
    • Handle: RePEc:aza:rmfi00:y:2018:v:11:i:3:p:207-217
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    More about this item

    Keywords

    asset management; liquidity risk management; stress testing; contingency planning; product suitability and disclosures;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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