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Customer

A start-up company with expertise in Operational Risk, based in USA (Now part of a leader in business intelligence and analytics).

Customer Profile

Our customer specialized in operational risk management consulting, data and software, with significant experience in addressing the full range of operational risk measurement and management issues. They provided expert advice, advanced software tools, methodology, modeling techniques and the most comprehensive and accurate database of publicly reported operational losses.

Project Details

ObjectOrb developed for this customer, a suite of products for operational risk measurement and management.

A product for monitoring operational risks

This product is a browser-independent, web-based application designed to automate the processes for managing all internal operational risk information through a user- friendly process, within a single system. The tool facilitates the entry, collection, transfer, storage, analysis, tracking and reporting of operational loss events, key risk/ performance/ scale indicators, risk assessment results and control assessment scores drawn from multiple locations across an organization.

Effort Level

80 person month effort spread over 1 year.

Outcome

The product was installed in at least three leading banks of the world.

A product to model VaR

This application is designed with the ability to splice, dice, drill-down, adjust, trend and plot operational loss data to enable a sophisticated user to efficiently assess the quality of that data and subsequently to model operational VaR, following a fully transparent, intuitive and sequential process.

Effort Level

90 person month effort spread over 6 months.

Outcome

The product was installed in a leading bank of the world.

A product to analyze consortium data

We developed a consortium data analysis tool which had the following features:

  • Import operational loss event data from consortium banks and validate them
  • Maintain business line and event categories
  • Perform Exposure Indicators (Gross income and headcount) Analysis
  • Generate severity matrix
  • Generate reports (Loss event - Severity, Frequency, Exposure Indicators)

Effort Level

50 person month effort spread over 6 months.

Outcome

The product was installed in PriceWaterhouseCoopers, Zurich. Nearly 12 banks are using the product.