BPG Goes To the OPERA

Basis Point Group (BPG) introduced the Operation Performance Evaluation and Risk Assessment (OPERA) methodology, a quantitative approach to operational improvements that extends the company's financial services market benchmarking framework, according to the firm.

Formalized following discussions with financial services executives, the OPERA methodology is designed to allow clients to isolate, contain and reduce processing risk, according to Bob Fawls, managing partner of Boston-based BPG. "OPERA has proven effective in evaluating operational risk, identifying actionable measures that improve front-, middle- and back-office operations, and providing a sound basis for measuring the effectiveness of IT applications and systems," Fawls said in a release, adding that BPG continues to refine OPERA.