Many
institutions are now introducing more disciplined approaches
to operational risk management. Frequently, under the
direction of a senior management Operational Risk Committee,
such initiatives commonly include objectives of introducing:
· formal risk identification and qualification
programmes, closely integrated with internal audit
· Co-assessment of risks by the business
· definition of detailed risk policies
· development of internal capital allocation methodologies
· regular reporting to Board and Senior Management
To support these new initiatives there is a compelling
requirement for an integrated systems approach. The chosen
system needs to have the architecture to support and address
ever-evolving requirements into the long-term.
Amelia Financial Systems brings
a structured pragmatic risk identification and assessment
methodology to assist organisations to get the best
results from their operational risk programmes and to
lay the foundation for new Corporate Governance requirements
and Basel II and European Union initiatives.
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