Mutual One leads a working group of 8 mortgage lenders in the implementation of Methodware’s ORCAS software for Operational Risk Management

Mutual One Ltd is a Company owned by 8 UK building societies. Its purpose is to help those, and other, building societies to act collectively on a number of initiatives in order to take advantage of benefits afforded to larger organisations.

A recent initiative of Mutual One is to help building societies implement an Operational Risk Management (ORM) programme. This programme will enable the building societies to assess and manage operational risk in line with industry best practice and the proposed Basel II and CAD 3 directives.

After reviewing other operational risk management software solutions, Mutual One chose Methodware’s Operational Risk Co-Assessor (ORCAS) tool for their purposes. They chose ORCAS, as the software provides for transparent operational risk and a seamless integration to risk based auditing in support of the latest Basel initiatives. ORCAS has an excellent track record and large client base within the financial services sector and will enable the team to quickly and accurately collate and manage risks and their associated controls.

Richard Carson, General Manager, Mutual One commented “ORCAS 4 provides an excellent solution to aid the building societies involved in this project with Operational Risk matters.”

“Methodware’s enthusiasm in helping the group has demonstrated the Company’s commitment to service is as important to them as providing a first class product” added Carson.