VIENNA, Austria - AIM Software, a leading provider of risk management and
reference data management solutions to the financial industry, recently
unveiled GAIN OpRisk+, a new module of the integrated GAIN Risk Management
platform, that focuses on complying with the increased regulatory
requirements of Basel II.
The GAIN platform now covers in a single package all risk assessment areas
that financial institutions have to comply with and aims at reducing the
potentially high integration costs and the interfacing risk between
stand-alone risk management solutions.
In contrast to the OpRisk+ methodology, methods such as the Loss
Distribution Approach (LDA) require a large amount of internal and external
data sources such as specialized consortia, making the data collection
process time consuming and therefore expensive. AIM Software's OpRisk+
processes internal operational loss data and concentrates on assessing the
most frequent operational risks. Thereby, operational risk calculations can
be covered in a fast, easy and cost-efficient way.
Nikolaj Tsenov, Senior Risk Analyst at AIM Software, states: "Our new
OpRisk+ module can help banks to achieve lower amounts for their required
underlying capital. Banks began to implement operational risk management
because in the first row they had to comply with regulatory requirements
but, as they spend more time on it, they also start to see the advantages of
the model itself."
AIM Software's financial analysis platform GAIN is linked to 15+ of the
world's major data feeds. Based on the proven functionality of processing
data from various sources, GAIN OpRisk+ helps financial institutions to face
the challenges and hurdles in implementing the requirements for operational
risk management efficiently and targets a fast integration.
"Given the fact that GAIN Risk Management provides a balanced blend between
market risk, credit risk and operational risk, this new version can even be
used by small and medium sized banks. We are committed to developing
standardised and easy to use software that offers banks compliance with the
Basel II requirements in a very short period of time," Tsenov concludes.