London, 2 September 2005 â RiskBusiness International and the Risk Management Association (RMA) today announced the licensing of the RiskBusiness Framework and the KRIeX Software Development Kit to Centerprise Services, Inc. This announcement follows RMAâs selection of Centerprise as the primary provider of RMA OpRisk Toolssm.
Under the License agreement, Centerprise will incorporate the multi- dimensional RiskBusiness Framework into the core of their Enterprise OpRiskCenter solution, where it can be used to correlate exposure measurement and management across loss data, risk and control assessments, key risk indicators and open issues. The License also provides Centerprise with the
necessary data schema and interface mechanisms to allow Enterprise OpRiskCenter to download key risk indicator (KRI) specifications, KRI benchmarks and consolidated industry risk profiles from RMAâs KRI Library, as well as to upload a subscriberâs own risk profile or KRI values to a data custodian, where it is anonymised and then included into KRIeX.org.
Commenting on the License, RiskBusiness Internationalâs Managing Director for Europe, Middle East, Africa and Asia-Pacific, Mike Finlay said, "As the number of subscribers to KRI Services continues to grow, more and more subscribers are looking to their software solution providers to assist in automating KRI collection and analysis. By incorporating the RiskBusiness Framework and the interfaces to and from the KRI Library into their product, Centerprise is responding to this requirement, putting them at a competitive advantage to other solution providers."
KRI Services consist of the KRI Library and KRI Benchmarking for banks, broker-dealers, insurance and other financial services firms. The KRI Library contains the defined indicators and is available to all participating firms for their further use.
"RMA selected Centerprise to provide OpRisk Tools specifically to meet a demand from its members", said Charles Taylor, director of operational risk at RMA. "Incorporating the Software Development Kit and RiskBusiness Framework extends the commonality of structure and approach which we envisage across all of our products and services."
Reto Tuffli, CEO of Centerprise Services, sees the inclusion of the RiskBusiness Framework and KRIeX.org Software Development Kit into Enterprise OpRiskCenter as an important addition to the solution. "Our clients and prospects like our support for an integrated view of their operational
exposures. We believe that including the Framework and interface mechanisms into Enterprise OpRiskCenter materially expands on this, and also allows us to support the emerging industry best practice represented by KRI Services. By being the first software solution provider to license this material, Centerprise remains at the forefront of operational risk management tools and