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Bank Austria Creditanstalt signs up to OpVantage database

08 January 2004  |  3093 views  |  0 Bank Austria Creditanstalt signs up to OpVantage database

Bank Austria Creditanstalt (BA-CA) has signed a subscription agreement with Fitch Risk to access OpVantage's financial institutions risk scenario trend (First) database.

Fitch Risk says the First database contains 4500 case studies of operational risk loss events and is designed to help firms determine and manage exposures.

Separately, OpVantage has released its Java-based self-assessment tool OpVar Risk and Control Self Assessment (RCSA) which enables users to access its First database.

The system was designed provide users with the tools required to monitor and mitigate risk as well as comply with the regulations such as Sarbanes-Oxley and Basel II. Users can create custom templates to capture data types including risks, associated controls, key risk indicators (KRIs), action plans and other requirements.

Scott Grayson, OpVantage's head of global sales and client services, says: "We received multiple requests from our clients who wanted an integrated solution to both their qualitative and quantitative approaches to operational risk. The development of this product is in direct response to their needs."

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