Algo OpVar

Algo OpVar enables banks, diversified financial institutions, hedge funds, insurance providers and corporations to collect, analyze, assess and report on operational risk, calculate capital, and satisfy regulatory requirements.

Fully integrated, scalable and web-enabled, Algo OpVar offers seamless integration with a number of functional extensions, which each provide a specific set of operational risk management functionality:

Internal loss event data collection

Algo OpVar's LED enables the consistent collection, classification and maintenance of operational risk loss events and factors for each key process and/or product within each of the institution's business lines. Action plans can be created for loss events with specific workflows for the acceptance of loss data and the execution of action plans.

Risk and control self-assessment

Algo OpVar's RCSA provides a means to collect assessment data using a common language and methodology across the organization. RCSA allows institutions to inventory key risks and controls and then make decisions to control/mitigate operational risk.

Key risk indicators

Algo OpVar's KRI enables the identification of key risks and associated risk thresholds, so that the organization can monitor values and identify trends that might lead to unacceptable risk. Users can employ Algo OpVar's KRI functionality to trigger alerts and the assignment of action plans when a threshold is breached.

Scenarios

Algo OpVar's OpScenarios is designed to identify, arrange and present information including internal loss data, relevant external loss event information, and key risks and controls identified during the RCSA process for scenario analysis, and then capture results of the assessment. OpScenarios provides information to assist operational risk and senior business managers who are responsible for the most critical risks the institution faces, and are reliant on truly understanding the depths of what can go wrong and how it will impact their businesses.

Capital Modeling

Algo OpVar's Capital Modeling provides a robust data analysis capability combined with sophisticated tools for modeling loss events.

Sarbanes-Oxley

Algo OpVar's SOX functionality enables users to meet regulatory requirements via scheduled risk assessment, control and attestation testing and issue tracking (or analysis). SOX focuses on the testing of controls and the certification of the overall strength of the control environment at an organizational (CFO) level.

Supported by Algo OpVar's core capabilities, each extension is a fully functional solution for a specific aspect of operational risk management. Individually, they provide users with a robust solution to a particular operational risk management objective. Combined they provide a comprehensive, integrated operational risk management solution.

Related Downloads

The Replication Game

How ING put together a portfolio replication and economic capital calculation system for its global insurance business within two years.

Life & Pensions, April 2007. *Reproduced with permission

Cive Davidson

Download PDF