The operational risk management suite from Swiss company RCS has been further internationalized and is now not only available in English, German and some other West European languages, but also in Arabic, Bulgarian and Russian. Currently the system is being translated in various other exotic languages such as Kazakh, Persian, Georgian, Ukrainian and many others. This fact will warrant the persistent leading position of IRIS and its offering on international level not only in already developed markets but also emerging ones.
The driving force of this initiative, Nikolaj Tsenov, Sales Area Manager of IRIS commented: "what we understand for user-friendliness in an application has to meet the standards of understandability and bend the boundaries, not by homogenizing but by recognizing the differences and respecting them".
Because the RCS OpRisk Suite enables financial institutions to proactively manage operational risks at every level of the enterprise, language should not hinder this flexibility.
Effective risk identification considers both internal and external factors, which could adversely affect the achievement of the bank's objectives. By making this tool available in several languages we reduce the risk of misunderstandings caused by a possible language barrier.
The OpRisk Suite is a field-proven module tool which can integrate within one system collection of losses, risk self assessment, action tracking, monitoring of key risk indicators, and quantification. The web-based solution also produces tailor-made and fully integrated reports.
In September 2006 IRIS integrated risk management extended the coverage of its financial risk management platform with the Operational Risk modular product of RCS.
The application is offered and implemented by IRIS and its Business Partners as part of the overall riskpro(tm) analysis offering or as stand alone.