Increased interest for the Integrated RiskPro™ Credit Risk, Basel II, IFRS modules

After a calm summer, activities in relation to new customers and upgrades have taken up since beginning of September. Among the closed new projects are

- Bayerische Landesbank Girozentrale, has signed up to implement the RiskPro credit risk modules focusing on exposure calculation. The use of these modules will be in addition to their current work in the areas of interest rate and liquidity management

- IRIS together with its new business Partner ComputerLand S.A. Poland signed its first customer in Poland, Bank Gospodarki Zywnosciowej (BGZ). This will be a very large project starting with the implementation of the Fund Transfer Pricing Module to continue with ALM and Credit Risk.

ORTOS the new operational risk solution promoted and maintained by Capco rounds up the enterprise-wide integrated RiskProâ„¢ platform to all aspects of risk and profitability analysis across the total organization.

In the frame of its single platform approach to Risk and Profitability, IRIS now offers customers wanting to address all aspects of risk including market, credit and operational risk an integrated platform in the form of RiskPro™ Version 2.5 – The operational risk modules covering more than the Basic Approach come in the form of the ORTOS operational risk tool suite, a system developed together with a leading international bank and now fully supported by Capco. This modular platform is built on a customizable universal framework and architecture, which allows financial institutions to satisfy in reasonable time frames and costs the requirements of "The Standardized Approach" or the "Advanced Measurement Approach" defined by Basel ll for small to large organizations. The today available ORTOS modules cover:

- A framework to define entities, locations, business lines, products and processes that make up the organization which provides the baseline for the core modules (STORM).
- An operational risk loss database used to gather and analyze operational loss data across the organization using a multi-stage workflow (GOLD).
- A scenario based structured self assessment system, which is supported by a standardized questionnaire to evaluate operational risk and process/system quality (TESSA).
- A key operational risk indicator system including e-mail alert mechanisms to give early warning of potential risks and performance trends (KORIS).
- An operational risk economical capital calculation module using Monte Carlo simulation (OREC).
- An operational risk management information system which is using data from all ORTOS modules to provide flexible, dynamic, and timely reporting to support the management of Operational Risk (ORMIS).

The integration with RiskProâ„¢ can be done at the level of the defined operational risk structure and product definition, which can be mapped very easily into RiskProâ„¢ as well as on the level of the calculation of the total economic capital and the historization.

ORTOS has been developed at Dresdner Bank and Capco, an international services and technology solutions provider exclusively focused on the financial services industry with its Head Quarters in Brussels (www. capco.com). Currently ORTOS is in production at 3 leading European banks. In the near future Capco will offer an ASP-Solution of ORTOS, which will be particularly suited for smaller financial institutions or large groups of smaller entities for which Capco also provides maintenance services.

IRIS will offer ORTOS as the preferred RiskProâ„¢ operational risk management solution to its customers and to new ones in the territories currently covered by IRIS and its partners. In a first stage the implementation and support will be made by Capco in cooperation with IRIS. Commercially, ORTOS will be sold by IRIS based on a license agreement made directly between the customer and Capco.

See you in Geneva, December 3 & 4 at Risk 2003

RiskProâ„¢ 2.5 with its Basel II functionalities and ORTOS will be presented at Risk 2003 in Geneva at the IRIS stand. If you are interested in a private session with one of our senior consultants contact Lidia Suligoj (Phone: 0041 1 388 59 16 /,who will be happy to discuss your needs and organize the corresponding session.

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