SUB PRIME AND OPERATIONAL RISK - WHAT WENT WRONG? Algorithmics at G-COR II (Global Conference on Operational Risk II)

Toronto/London/New York - March 10, 2008 -

Algorithmics, the world's leading provider of enterprise risk solutions, will be at this year's G-COR II (Global Conference on Operational Risk II) in New York, 9-13 March 2008

At the conference, Penny Cagan, Managing Director, Head of Research at Algorithmics, will be speaking on the operational risks behind the subprime mortgage crisis, and examining how an operational risk perspective can help understand what happened.

Penny's view is that current markets are too complex and the credit crisis digs too deep and is too wide reaching to make sense of it by segregating risk into its traditional three categories (credit, market, operational). Operational Risk is the most far-reaching risk category - it touches every part of an organization and often underlies losses that on the surface appear to be credit or market risk events.

Penny will be speaking at 2pm on Wednesday 12th March as part of stream 1: Enabling Business Strategy and her presentation topic is Operational risks behind the subprime mortgage crisis.

For further information please contact:

Heather Smith,
Senior Communications Manager, Algorithmics (UK) Ltd
Direct line +44 (0) 20 7392 5820
Mobile +44 (0) 7515 974 223
E-mail: heather.smith@Algorithmics.com

 

Notes to Editors:

Algorithmics is the world's leading provider of enterprise risk solutions. Financial organizations from around the world use Algorithmics' software, analytics and advisory services to help them make risk-aware business decisions, maximize shareholder value, and meet regulatory requirements. Supported by a global team of risk experts based in all major financial centers, Algorithmics offers proven, award-winning solutions for market, credit and operational risk, as well as collateral and capital management. Algorithmics is a member of the Fitch Group.

Algo OpVar is a cost-efficient, flexible and comprehensive best practice software product for operational risk management. It is built on a single, integrated platform that can be customised to meet an organisation's individual needs. The fully integrated nature of the system enables an institution to select only the functionality immediately required and add more if and when desired. As a result, it can scale to meet a company's changing needs and requirements as well as evolving regulatory and rating agency requirements. It provides management with an integrated view of operational risk, bringing together internal loss event data collection, external loss data, risk and control self-assessments, key indicators, structured scenario analysis, capital modeling and risk mitigation strategies. It is available as a customized product, configured to meet a client's specific requirements, or as a Standard Edition, providing clients with an out-of-the-box methodology for operational risk management without major investment.

Algo FIRST is a uniquely designed research tool that helps financial institutions understand, identify, and manage operational risk. Recognized by analysts and practitioners alike for its industry-leading coverage, the ever-expanding Algo FIRST database contains thousands of real-life case studies on external risk loss events. Algo FIRST highlights operational risk events, control breakdowns, and management responses to help organizations prevent losses before they occur. Subscribers can proactively apply lessons learned from over 7,000 real-life case studies to help minimize their risk exposure and enhance internal controls. Algo FIRST is constantly expanding.

Fitch Group is the parent company of Fitch Ratings, a global ratings agency committed to providing the world's markets with independent, timely and prospective credit opinions. With 49 offices worldwide, Fitch Ratings' global expertise spans across capital markets in over 150 countries. Fitch Ratings is headquartered in New York and London.

The Fitch Group also includes Fitch Solutions, a distribution channel for Fitch Ratings products and a provider of data, analytics and related services; and Algorithmics, the world's leading provider of enterprise risk solutions.

The Fitch Group is a majority-owned subsidiary of Fimalac, S.A., headquartered in Paris, France. For additional information, please visit www.fitchratings.com www.algorithmics.com and www.fimalac.com

© 2008 Algorithmics Software LLC. All rights reserved. ALGO, ALGORITHMICS, Ai & design, ALGORITHMICS & Ai & design, KNOW YOUR RISK, MARK-TO-FUTURE, RISKWATCH, ALGO ALM, ALGO COLLATERAL, ALGO CREDIT ADMINISTRATOR, ALGO CREDIT DATA SERVICES, ALGO CREDIT ECONOMIC CAPITAL, ALGO CREDIT EXPOSURE, ALGO CREDIT LIMITS, ALGO CREDIT REGULATORY CAPITAL, ALGO CREDITVANTAGE, ALGO ETREASURY CREDIT, ALGO FIRST, ALGO MARKET ANALYTICS, ALGO OPDATA, ALGO OPVAR, ALGO RECONCILIATION, ALGO RISK, ALGO RISK SERVICE, and ALGO SUITE are trademarks of Algorithmics Trademarks LLC.

Press Contact

Heather Smith
Senior Communications Manager
Tel:  +44 (0)20 7392 5820
Mobile: +44 (0) 7515 974 223
Fax: +44 (0)20 7395 5701
email: Heather.Smith@algorithmics.com