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MPI Europe announce new version of SunTone RM – IT Operational Risk Assessment

30th November 2005 - MPI Europe Ltd have today announced the availability of the upgraded version of the SunTone RM Technology Risk Assessment solution. With over 1000 questions, this version - jointly developed by Sun Microsystems and MPIE - builds on the well proven SunTone question set to provide a pragmatic IT Operational Risk assessment solution. SunTone was originally launched in 2000 as a benchmark for ASP based service delivery and has been used by over 100 leading institutions from telecoms to banks. Specific new additions for this RM version include improvements to both the project management and security sections, and improved mappings for European regulations.

"Our clients are looking for a common way to assess and analyse all their operational risks due to technology." said John Cant, MPI Europe’s Managing Director. "They are looking for pragmatic solutions that can be phased to provide concrete business benefit within a short timescale. By using the proven SunTone framework and a pilot driven methodology this type of incremental approach can be achieved."

Nigel Woodward, Global Manager for Capital Markets, Sun Microsystems, commented "Today one of the key areas of focus for the market is compliance – new regulations, MiFID, Basel 2, and RegNMS all have elements which drive focus on the reliability of the supporting technology infrastructure. Whether driven by compliance or not, regular audit and remedial action to assess and improve operational resilience and therefore manage operational risk is key. We believe that the IP we have in the COBIT and ITIL based SunTone RM combined with MPIE’s financial services knowledge is a powerful combination for the market".

SunTone RM results are captured and analysed using the SurveyOne web based assessment tool, developed by Rima1 and already in use at several major banks. As well as the built in reporting and analysis capabilities data can be exported into other reporting and monitoring systems using a variety of formats e.g. XML or spreadsheet. By introducing automated capture methodologies – prudent repeatable business processes can be implemented – encouraging the adoption of a firm-wide focus and appreciation of operational risk exposure and its management.

The SUN-MPIE partnership provides clients with a combination of industry leading technology expertise with MPIE’s extensive knowledge of risk, regulation and compliance in the Financial Sector.