{"id":64313,"date":"2022-03-14T12:03:37","date_gmt":"2022-03-14T15:03:37","guid":{"rendered":"https:\/\/homologa.fdsites.com.br\/quatrorios\/gestao-recursos-copy\/"},"modified":"2022-03-14T12:06:45","modified_gmt":"2022-03-14T15:06:45","slug":"gestao-risco-compriance","status":"publish","type":"page","link":"https:\/\/homologa.fdsites.com.br\/quatrorios\/gestao-risco-compriance\/","title":{"rendered":"GEST\u00c3O DE RISCO E COMPLIANCE"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"64313\" class=\"elementor elementor-64313\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-967c889 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"967c889\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;,&quot;shape_divider_bottom&quot;:&quot;curve&quot;,&quot;shape_divider_bottom_negative&quot;:&quot;yes&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" data-negative=\"true\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M500,97C126.7,96.3,0.8,19.8,0,0v100l1000,0V1C1000,19.4,873.3,97.8,500,97z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-20a12b12\" data-id=\"20a12b12\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1234cafe elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1234cafe\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-76595322\" data-id=\"76595322\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-36bb1a06 elementor-widget elementor-widget-spacer\" data-id=\"36bb1a06\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a2c57af elementor-widget elementor-widget-heading\" data-id=\"1a2c57af\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.6 - 28-02-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Gest\u00e3o de <b>Risco e Compliance<\/b><\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-32b2690\" data-id=\"32b2690\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fee2d0b elementor-widget elementor-widget-spacer\" data-id=\"fee2d0b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-97c6f87 elementor-widget elementor-widget-image\" data-id=\"97c6f87\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.6 - 28-02-2022 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-content\/uploads\/elementor\/thumbs\/sobre-a-empresa-pluvi637awg2u1pmzlpz7a9j0y42lx2mfd0gy0kp7c.png\" title=\"sobre-a-empresa\" alt=\"sobre-a-empresa\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4bb8fd83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4bb8fd83\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2515b796\" data-id=\"2515b796\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ea8ff35 elementor-widget elementor-widget-spacer\" data-id=\"7ea8ff35\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75899877 elementor-widget elementor-widget-text-editor\" data-id=\"75899877\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.5.6 - 28-02-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>A\u00a0<strong>Quatro Rios<\/strong>\u00a0possui uma \u00e1rea de an\u00e1lise de risco independente, respons\u00e1vel por monitorar em tempo real as posi\u00e7\u00f5es assumidas pelos fundos. A metodologia utilizada se baseia na mensura\u00e7\u00e3o do valor em risco individual de cada ativo (tanto pelo stress test como pelo VaR), bem como do valor em risco do portfolio. Os principais riscos mensurados s\u00e3o:<\/p><p>Risco de Mercado<\/p><p><strong>VaR<\/strong>\u00a0\u2013 utlizamos o Var param\u00e9trico, com 95% de confian\u00e7a, volatilidade e correla\u00e7\u00e3o calculadas atrav\u00e9s do EWMA (l\u00e2mbda otimizado). Para os fundos com carteiras de op\u00e7\u00f5es utilizamos simula\u00e7\u00f5es de Monte Carlo;<\/p><p><strong>Mini Stress<\/strong>\u00a0\u2013 utilizamos a mesma metodologia do VaR, inputando as volatilidades dos ativos manualmente, com o intuito de capturar poss\u00edveis gaps de pre\u00e7o na abertura das negocia\u00e7\u00f5es di\u00e1rias de cada ativo;<\/p><p><strong>Stress Test<\/strong>\u00a0&#8211; utilizamos como limitador formal de posi\u00e7\u00f5es, com cen\u00e1rios definidos atrav\u00e9s da an\u00e1lise passada do comportamento dos ativos. No Stress Test, todos os valores em risco absoluto s\u00e3o somados, n\u00e3o considerando o efeito de diversifica\u00e7\u00e3o do portfolio. Para as curvas de juros e cupom s\u00e3o utilizadas as curvas de stress da BM&amp;F (da qual fazemos parte do comit\u00ea de risco). Para ativos que n\u00e3o t\u00eam cen\u00e1rios de risco disponibilizados pela BMF, utiliza-se o worst case scenario dos \u00faltimos dois anos para uma janela de 30 dias;<\/p><p><strong>Expected Drawdown<\/strong>\u00a0\u2013 Apesar de n\u00e3o trabalhar com stop loss, a Quatro Rios acompanha diariamente as perdas incorridas por seus fundos (drawdown). Com base neste procedimento, a\u00a0<strong>Quatro Rios<\/strong>\u00a0simula diariamente poss\u00edveis perdas atrav\u00e9s de movimentos brownianos;<\/p><p><strong>Back Test<\/strong>\u00a0\u2013 A Quatro Rios calcula diariamente modelos de back test, com o objetivo de calibrar seus modelos estat\u00edsticos.<\/p><p><strong>Risco de Liquidez:<\/strong><\/p><p>Com o objetivo de garantir liquidez \u00e0s posi\u00e7\u00f5es, a \u00e1rea de riscoacompanha diariamente o volume m\u00e9dio de negocia\u00e7\u00e3o de cada ativo do portf\u00f3lio. A an\u00e1lise \u00e9 feita com base no volume m\u00e9dio de negocia\u00e7\u00e3o dos \u00faltimos trinta preg\u00f5es, excluindo os dias com maior e menorvolume da amostra considerada.<\/p><p><strong>Risco de Cr\u00e9dito:<\/strong><\/p><p>A\u00a0<strong>Quatro Rios<\/strong>\u00a0<strong>Investimentos<\/strong>\u00a0n\u00e3o realiza an\u00e1lise de risco de cr\u00e9dito internamente, mas conta com uma pol\u00edtica de cr\u00e9dito e contrapartes conservadora. A\u00a0<strong>Quatro Rios<\/strong>\u00a0poder\u00e1 incorrer em risco de cr\u00e9dito com suas contrapartes em opera\u00e7\u00f5es nos mercados de bolsa de valores e balc\u00e3o organizado, e todas as aprova\u00e7\u00f5es de limites de cr\u00e9dito devem ser feitas pelo Comit\u00ea de Risco e Compliance, de acordo com a pol\u00edtica de cr\u00e9dito pr\u00e9 definida.<\/p><p><strong>Risco Operacional:<\/strong><\/p><p>Trabalhamos com um sistema desenvolvido internamente que unifica as \u00e1reas de mesa deopera\u00e7\u00f5es com risco e back office. Com um sistema unificado, todas as opera\u00e7\u00f5es s\u00e3o completamente automatizadas, e assim reduzem-se as possibilidadesde falhas no processo de boletagem e precifica\u00e7\u00e3o dos ativos.<\/p><p><strong>Compliance:<\/strong><\/p><p>A\u00a0<strong>Quatro Rios<\/strong>\u00a0desenvolve um r\u00edgido monitoramento e acompanhamento das opera\u00e7\u00f5es e atividades dos fundos. As atividades de compliance realizadas internamente (somadas ao compliance realizado pelos administradores dos fundos) garantem aos cotistas da\u00a0<strong>Quatro Rios<\/strong>\u00a0transpar\u00eancia e o cumprimento dos regulamentos dos fundos e da legisla\u00e7\u00e3o vigente. Entre outras atribui\u00e7\u00f5es, nosso compliance desenvolve:<\/p><p>&#8211; Acompanhamento online das posi\u00e7\u00f5es, visando o cumprimento das restri\u00e7\u00f5es presentes nos regulamentos de cada um dos fundos; C\u00f3digo de \u00e9tica e conduta;<\/p><p>&#8211; Pol\u00edtica de investimento pessoal (para funcion\u00e1rios e s\u00f3cios);<br \/>&#8211; Integridade das boletagens \u2013 Tratamento equitativo para todos os fundos.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Gest\u00e3o de Risco e Compliance A\u00a0Quatro Rios\u00a0possui uma \u00e1rea de an\u00e1lise de risco independente, respons\u00e1vel por monitorar em tempo real as posi\u00e7\u00f5es assumidas pelos fundos. A metodologia utilizada se baseia na mensura\u00e7\u00e3o do valor em risco individual de cada ativo (tanto pelo stress test como pelo VaR), bem como do valor em risco do portfolio. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-64313","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/pages\/64313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/comments?post=64313"}],"version-history":[{"count":4,"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/pages\/64313\/revisions"}],"predecessor-version":[{"id":64317,"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/pages\/64313\/revisions\/64317"}],"wp:attachment":[{"href":"https:\/\/homologa.fdsites.com.br\/quatrorios\/wp-json\/wp\/v2\/media?parent=64313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}