SIBOS-SINGAPORE - October 21, 2003 - JPMorgan Treasury Services (TS),a unit of JPMorgan Chase and a leader in global payments, trade finance and treasury management, today announced that The World Bank Group has selected its Web-based, enterprise-wide operational risk management solution - JPMorgan HorizonSM - for its global finance activities. The World Bank Group has also engaged JPMorgan as its implementation advisor through participation in the
JPMorgan Horizon Risk Advisory Program. In addition, The World Bank Group has chosen the JPMorgan Horizon Risk/Loss Events module to record and analyze its events and losses.
"We are extremely excited to launch the Horizon Risk Advisory Program with such a respected and noteworthy global institution," explained Craig Spielmann, Horizon Business Executive for JPMorgan Treasury Services. "Horizon is a proven operational risk solution, and the World Bank's decision to employ it demonstrates their continued commitment to excellence."
The JPMorgan Horizon Risk Advisory Program assists clients in the planning and implementation of efficient and effective operational risk management programs within their institutions. The World Bank Group chose JPMorgan Horizon because of its ability to create transparency across the Group's finance business lines, as well as the solution's ease of use and JPMorgan's excellent client references. JPMorgan was selected as the implementation advisor because of its expertise with Horizon, and its global reputation in treasury services and investment banking.
JPMorgan Treasury Services' Horizon risk management solution is relied on by some of the world's leading institutions, such as central banks, investment and retail banks, insurance companies, mortgage companies and energy companies to
effectively manage risk and assist with regulatory reporting for Sarbanes-Oxley and Basel II.
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Philippe Jeanjean, Tom Coombes, Cognito
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