Algorithmics moves up the OpRisk & Compliance annual software rankings

12 May 2008

Algorithmics has received its best ranking to date in the recently announced OpRisk & Compliance Annual Software survey, moving up a position in every one of the five categories in the survey. Algorithmics was ranked first for scenario analysis and first for regulatory and economic capital.

Commenting on the results, John Winter, Senior Vice President, Operational Risk Solutions, Algorithmics, said: “In a year when risk management, and particularly operational risk management, is so prominent, we are delighted that the strength of Algorithmics operational risk solutions has been recognized.”

Rita Silverstein, Director, Operational Risk Product Management, Algorithmics, added: “We knew we had made some ground breaking enhancements in our new standard edition of Algo OpVar, but what is more interesting for us is that our clients are confirming that the best practice methodology built into the standard edition is a good fit to their operational risk requirements. The standard edition not only incorporates best practice into our clients risk management, but is fast to implement so that they can be up and running quickly and actively managing their risk with the new software.”

OpRisk & Compliance reported: “Algorithmics is pushing for ERM as the future of risk management”, and this is confirmed by Rita Silverstein, who added: “For Algorithmics, with our significant client base and capabilities in market, credit and operational risk, we are always looking at ways to integrate risk management, give clients a complete ERM solution and use this as a fundamental driver of value creation.”

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