Indivior Embraces Enhanced Analytics to Reinforce Risk Management

Global pharmaceutical company, Indivior, is renowned for its pioneering work developing medicines for substance use disorders. But it was looking for a fresh way to improve risk management across its investment portfolio – and turned to ICD for help.

Indivior’s treasury was facing challenges in analysing counterparty exposures across its diverse investment portfolio. The company’s investment strategy included a mix of MMFs with same-day or T+1 access, complemented by longer-term cash held in separately managed accounts.

The treasury team of three relied on ICD Portal for its MMF investments but faced a time-intensive process when aggregating exposures across other investment sources. Every month, the team manually collected reports, consolidated data across hundreds of counterparties, and cross-referenced credit ratings from Bloomberg to ensure compliance with their investment policy. This painstaking process could take up to a full day of work, could be open to errors, and could limit the time that treasury had for higher-value activities.

Having worked with ICD for more than a decade, Indivior Treasurer at the time, Bill Lundeen, recognised the potential for innovation. He proposed a solution to aggregate exposures from all investment sources, not just those traded on ICD Portal. By sharing Indivior’s data and detailed requirements, Lundeen became a design partner, contributing to the development of ICD Portfolio Analytics. Over time, treasurers from other firms joined the initiative, ensuring the tool addressed various industry needs.

Transformative treasury outcomes

ICD Portfolio Analytics revolutionised Indivior’s investment reporting. The tool reduced the time required for data aggregation and analysis by nearly a full day each month. This efficiency gain enabled the team to conduct more frequent and dynamic analyses, using real-time indicators like CDS spreads and equity price changes to identify potential risks.

“The portfolio analytics solution helped me demonstrate that everything we were doing was in compliance with our investment policy,” comments Lundeen.

For example, Lundeen noticed a significant exposure to a single financial institution during a routine review. Leveraging the tool’s insights, he identified that over 80% of this exposure stemmed from one MMF. The team acted quickly, rebalancing their portfolio to reduce risk while ensuring compliance with their investment policy.

ICD Portfolio Analytics’ advanced capabilities include automated aggregation, real-time data visualisation, and intuitive reporting. And what began as the search for a solution for one company became a solution that any treasurer can benefit from.

This collaborative innovation rightly gained the company the Best Risk Management Solution prize at the TMI Awards 2025.

“Corporate treasurers should reach out to each other and their technology providers about their challenges and needs and leverage technology to solve these issues,” Lundeen enthuses. “Look for providers who are willing to listen, who are flexible and who will dedicate the resources to make your vision a reality.”