Craig Spielmann joins Algorithmics in a senior role providing relationship management, strategic direction and expert advice in support of the company's North American operational risk practice. Craig brings particular strength in qualitative analysis and risk management through 25 years of financial industry experience. Prior to joining Algorithmics, Craig spent over 15 years at J.P. Morgan where he held senior audit and risk management positions and was responsible for developing an industry best practice for risk and control self assessment, as well as founding the company's operational risk management software and advisory business. Craig has also held tenures at Dean Witter Reynolds and Merrill Lynch.
John Winter joins Algorithmics in a senior capacity focusing on the EMEA region. John, leveraging over 20 years of financial software industry experience, will be a project leader guiding European clients through the implementation process. Prior to joining Algorithmics, John worked with RAFT International, a software solutions and services provider for the energy trading and financial services sectors. While with RAFT, John was Product Director for the company's operational risk solution providing product strategy, product architecture, development, and implementation support, with a focus on capital modelling and self-assessment processes. John has extensive project management experience with firms such as National Westminster Global Financial Markets, TCAM Trading Systems (UK) Ltd., CERES Trading Systems Ltd., and Logica.
"We are committed to ensuring that we have the best team available to respond to our clients current and future operational risk requirements,"
said Lloyd Hardin, head of the Algorithmics' operational risk business.
"This is an exciting time at our company. Craig's and John's talents and experience, coupled with those of other recent additions, will be great assets to our business going forward."
Algorithmics operational risk business has grown significantly through the Fitch Group's acquisition of the company on January 25, 2005. The resulting combination of Algorithmics' and Fitch Risk's operational risk groups creates one of the largest and most experienced operational risk teams in the industry, serving over 70 operational risk clients worldwide. At a corporate level, the companies have been united under the Algorithmics brand. The former OpVar and Algo OpRisk products have been re-branded Algo OpVantage. Algorithmics' operational risk team will focus on enhancing its clients' abilities to manage and measure operational risk by providing a comprehensive end-to-end solution for the identification, collection, management and measurement of qualitative and quantitative operational risk.
The company is committed to strengthening all components of Algo OpVantage to provide the ability to: warehouse all of a firm's operational risk data; generate highly configurable assessments, loss event data, structured scenario and key risk indicator templates; build sophisticated capital models; and produce integrated management reports.