Algo OpRisk now includes user-friendly features that simplify and consolidate data capture for all regulatory entities - Basel II, Sarbanes-Oxley, and so on - in a single user interface and platform. The system is designed to capture all regulatory information once for multiple purposes.

Regulators today are requiring firms to collect vast amounts of compliance and risk information. But few firms have integrated information systems to collect, process and report regulatory information. Business managers are increasingly overwhelmed by information requirements that compel them to re-enter information repeatedly into various forms and systems to satisfy different regulatory regimes. Firms without a comprehensive system to capture all regulatory information once not only waste time and resources - they increase the risk of inaccurate or inconsistent reporting to regulatory bodies that can result in higher operational risk capital and reputational risk. Business and risk managers need to be equipped with the right tools to go beyond mere compliance to meet the broader risk management objectives of both Basel II and Sarbanes-Oxley: establishing a proper risk management culture.

Algo OpRisk enables financial institutions to improve their operational and compliance management by providing a user-friendly, single entry/capture point for all relevant information. "Algo OpRisk is a catalyst for our clients to reduce their operational risk capital, which in turn can be re-directed to finance growth and other strategic programs," says Michael Zerbs, Chief Executive Officer at Algorithmics. "This complete operational risk solution meets the qualitative and quantitative criteria of the Advanced Measurement Approach for determining the operational risk regulatory capital requirements of Basel II."

Algo OpRisk provides a complete range of the world's most advanced operational risk measures/metrics, decision support tools and methodologies, all powered by Mark-to-Future, Algorithmics' award-winning scenario-based analytic engine. Algo OpRisk is fully web-enabled, employs standard browser technology, and is based on a common underlying risk architecture that fully supports operational and compliance risk exposure of both management (qualitative) and measurement (quantitative) factors.

Algo OpRisk offers financial institutions the ability to:

Improve Operational Risk and Compliance Management: Algo OpRisk enables business, risk and compliance management to zero in on the top exposures to ensure that proper mitigation action plans are in place. The solution can capture a virtually unlimited number of operational risk and compliance factors and their associated relationships. Users can easily analyze, monitor and report any of these factors, individually or in combination.

Reduce Cost of Compliance: Algo OpRisk substantially improves the quality and reduces the cost of gathering, analyzing, monitoring, reporting, and action plan tracking of operational risk and compliance information required under Basel II and Sarbanes-Oxley, as well as various domestic and international regulations. Algo OpRisk captures and stores all data in a centralized database. Information can be sliced and diced at whatever level of detail needed to fulfill regulatory requirements.

Lower Capital: Algo OpRisk can enable financial institutions to reduce operational risk capital. Some institutions have indicated reductions of 20 to 30%. These savings can in turn be re-directed to finance growth and/or may be profitably redeployed to fund new opportunities.

Enhance Reputation: Algo OpRisk provides a transparent system for demonstrating compliance and enhancing the reputation of the financial institution amongst regulators, rating agencies, shareholders and other interested stakeholders.

Leverage Breadth of Expertise: Algo OpRisk was evolved by working closely with several international development partners and leveraging the experience gained from implementations of risk management solutions at more than 150 of the world's leading financial institutions. Supported by one of the largest enterprise risk management teams in the world, Algorithmics has successfully completed implementations in over 30 countries.