RiskBusiness Operational Risk Services : Operational Risk Taxonomy Public Loss Data RCSA Risk Profiling Software

Recent News

RiskBusiness announces the establishment of RiskBusiness Americas
Documentation: Press Release 23062010 Establishment of RBA.pdf
Posted: 23 June 2010
RiskBusiness International Limited announced today that, in conjunction with Madison Davis Professional Services, a joint venture firm focussed on the Americas under the name "RiskBusiness Americas, LLC" had been formed. Further information is provided in the attached press release.

Howard Stein addresses transparency and risk management in the financial crisis
Documentation: Press-Release-Summit2010-FINAL-5-18-10.pdf
Posted: 18 May 2010
RiskBusiness' Advisory Board Chairman Howard Stein was invited to deliver a keynote speach at the Shared Assessments Summit 2010, a gathering of nearly 200 risk management thought leaders, experts, and executives from diverse industries including healthcare, retailing, financial services and higher education, organised by the Santa Fe Group.

Details of the event are described in the attached press release from the Santa Fe Group.

RiskBusiness releases the Community Bank Taxonomy
Posted: 28 April 2010
RiskBusiness International announces a major enhancement to its award winning Risk Taxonomy libraries, a variant of the financial services taxonomy designed specifically for North American Community Banks and Credit Unions.

RiskBusiness and MEGA announce content bundling arrangements
Posted: 26 April 2010
MEGA, the GRC and enterprise architecture leader, and RiskBusiness International, renowned risk advisory firm, announced they have integrated new libraries of risk type and control type content and classification structures as offered in the RiskBusiness Taxonomy into the MEGA Suite. The new offering will help financial services firms accelerate the adoption of successful operational risk management programs.

RiskBusiness and ACME Consultora announce the Argentine Internal Loss Data Service
Posted: 01 December 2009
Responding to the recent requirements by the Argentine Central Bank for banks to implement loss data capture systems, RiskBusiness and ACME Consultora have released a customised version of their Internal Loss Data Platform to meet both the internal requirements as well as to provide the necessary reporting output to the Central Bank.

The platform is based on a SaaS (Software-as-a-Service) architecture that allows Banks to implement the toolset at low capital cost, whist providing market leading content capabilities and data storage and anonymsation. The content libraries of Business Processes, Detailed Risks, and Detailed Control Types enable businesses to benchmark effectively both across and between organisations. This content and the platform labels have all been translated into Spanish.

Click here to view a brief overview (in Spanish).

RiskBusiness and Texert Inc enter into Content distribution agreement
Documentation: Press Release 10092009 RiskBusiness and Texert announce content distribution agreement.pdf
Posted: 10 September 2009
Texert and RiskBusiness International today announced an agreement to market the Texert J-Port® GRC platform with integrated risk and control Content Libraries and Taxonomy from RiskBusiness. This integration offers clients an out of the box configuration of risk types, process types and control types that are mapped into exiting industry standards for risks and controls. The Libraries comprehensively cover the detailed risk types and control types that are necessary to document the business environment from an Audit, Compliance or Risk Management perspective.

RiskBusiness to provide the KRI Library, Risk Taxonomy and related Risk Benchmarking services in Spanish
Posted: 26 August 2009
RiskBusiness and ACMEConsultora, a risk advisory firm specialising in consulting solutions for risk management, signed an agreement to offer the KRI Library, Risk Taxonomy and related content and data products in Spanish, serving the Latin American Region and Spain. The KRI Library and the Libraries of the Risk Taxonomy (standard business functions/processes, detailed risk types, control types, causal types etc) will be available in Spanish in a rolling program of translation, starting in the fourth quarter of 2009.

More information on the exact timing of releases will be published in due course. Based on the success of this roll out, other language options may be offered in 2010.

For additional details please contact Jonathan Davies at jonathan.davies@riskbusiness.com or Alfredo B Roisenzvit, of ACMEConsultora, at alfredo@acmeconsultora.com

RiskBusiness Appoints New Associates
Documentation: Press Release 07082009 RiskBusiness Appoints New Associates.pdf
Posted: 07 August 2009
RiskBusiness International Limited, the award-winning pioneering risk advisory services firm, today announced the appointment of two new associates to cater for increased demand on its services. Joining the firm to focus on operational risk in the financial services sector in Japan and Korea is Torsten Battenberg and in the UK Yema Tucker.

Risk Taxonomy Library from RiskBusiness is now ca smart Certified with CA GRC Manager
Posted: 03 August 2009
RiskBusiness International Limited, the global operational risk advisory firm, has been certified as a “ca smart” partner by CA, Inc. [NASDAQ:CA]. RiskBusiness completed the ca smart certification for its Risk Taxonomy library, providing an easy method for companies to load RiskBusiness’ risk taxonomy content into CA Governance, Risk and Compliance (GRC) Manager.

RiskBusiness Releases Results of Swine Flu Pandemic Survey
Documentation: Press Release 04052009 Pandemic Survey Results.pdf
Posted: 04 May 2009
In response to the widespread media coverage of the Swine Flu outbreak in Mexico and the ensuing positive testing of individual cases in more than 20 other countries globally, RiskBusiness International Limited facilitated a Pandemic Scenario Benchmarking Survey amongst more than 50 financial services firms around the world between the 30th April and 4th May 2009. This press release summarises some of the high-level findings.

RiskBusiness International earns OpRisk & Compliance 10th Anniversary Special Award
Documentation: Press Release 20090323 RBI earns ORandC 10 anniversary award.pdf
Posted: 23 March 2009
In its 10th year of publication, the financial services industry’s leading governance, operational risk and compliance publication, Incisive Media’s OpRisk & Compliance has issued 10 awards for initiatives and organisations for their significant contributions over the past decade to the discipline of operational risk management. RiskBusiness received the award as one of two outstanding solution providers.

Letter to KRIeX - The KRI Library Subscribers and other interested organisations
Documentation: KRIeX Announcement.pdf
Posted: 04 February 2009
A letter addressed to subscribers and other organisations interested in KRIeX.org - The KRI Library, describing exciting changes and developments scheduled for 2009 and onwards.

Algorithmics, RiskBusiness and RMA launch FIRST 500 - The Public Loss Data Service
Posted: 20 January 2009
Algorithmics, RiskBusiness and the RMA have announced the release of FITCH 500 - the Public Loss Data Service, which links case studies on publicly disclosed operational risk events from the Algorithmics FIRST database with the consolidated industry risk profiles contained within KRIeX and from the risk profiles, to individual KRIs which could have provided insight into events as they unfolded or which could be used for similar types of risk events. The Public Loss Data Service is also available as a stand-alone service to subscribers of other RiskBusiness services, including the Risk Profiling Service.

RiskBusiness and BPS, Inc. announce strategic partnership.
Posted: 06 January 2009
RiskBusiness International Limited (RBI), the global operational risk advisory firm, and BPS, Inc., a leading provider of enterprise governance, risk and compliance (GRC) software solutions today announced a strategic partnership to embed the RiskBusiness Risk and Control Content Libraries and RiskBusiness Taxonomy within the BPS Suite™.

Garth Hinton joins RiskBusiness
Documentation: Press Release 01112007 Garth Hinton joins RiskBusiness.pdf
Posted: 01 November 2007
Garth Hinton, formerly the Head of Operational Risk for the Europe, Middle East and Africa (EMEA) region for Citigroup, has joined RiskBusiness as Executive Director for Asia-Pacific, based out of Auckland, New Zealand.

Rick Cech joins RiskBusiness
Posted: 01 November 2007
New York, 4 September 2006 : RiskBusiness, the global operational risk advisory firm, today announced that Rick Cech, formerly the head of the risk event database group at JPMorgan Chase & Co’s Corporate Operational Risk Group, has joined the firm as Executive Director for the Americas.

Erste Bank adopts KRI Monitoring Service
Posted: 28 August 2007
Erste Bank Group, a leading Central and Eastern European financial services provider, has selected the KRI Monitoring Service provided by the Risk Management Association (RMA) and RiskBusiness International as part of KRI Services, the financial industry’s key risk indicator (KRI) initiative. Erste Bank will use the KRI Monitoring Service at both the group level and in each of its business operations across the region to collect KRI data, assess the collected data against predefined risk thresholds and operating targets, and to generate alerts when thresholds are exceeded. The KRI Monitoring Service also provides a range of KRI reports and allows for the comparison of KRI values across the business. Users can either select standard KRIs from the KRI Library or define their own variants and then monitor indicator values over time using the threshold monitors and standard reports provided.

RiskBusiness and Kalhoff-BII announce a strategic alliance
Posted: 12 December 2006
London, 12 December 2006: RiskBusiness, the global operational risk advisory firm, today announced that it has established a strategic alliance with Dr. Kalhoff - Business Information & Instruments (Kalhoff - BII), the leading provider of European operational risk public loss event data.

RiskBusiness appoints Howard Stein as Chairman
Posted: 21 April 2006
London, 21 April 2006: With effect 1 April 2006, RiskBusiness has appointed Howard Stein, previously Managing Director of Operational Risk at Citigroup’s Global Corporate and Investment Bank in New York as Chairman of its Advisory Board.

OpenPages Licenses RiskBusiness Framework
Posted: 29 November 2005
Waltham, Mass, 29 November 2005 - OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that it has licensed the RiskBusiness Framework and KRIeX Software Development Kit from RiskBusiness and the Risk Management Association (RMA).

RiskBusiness Announces new Software Solution Provider database
Posted: 09 November 2005
London, 9 November 2005: RiskBusiness today announced the release of a new online subscriber database service, containing details of software solutions for the corporate governance and operational risk areas.

RiskBusiness announces organisational changes
Posted: 02 September 2005
London, 2 September 2005 - RiskBusiness announces the relocation of Hansruedi Schütter to Hong Kong and the appointment of Duncan Wilson as Executive Director for Europe

RiskBusiness Licenses Framework to Centerprise
Posted: 02 September 2005
London, 2 September 2005 — 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 RMA’s selection of Centerprise as the primary provider of RMA OpRisk Tools.

RMA and RiskBusiness take KRI Library to SIBOS
Posted: 26 August 2005
Philadelphia, USA (August 26, 2005)—The Risk Management Association (RMA) today announced that its KRI Services would be showcased at SIBOS, the premier annual conference on payments and settlements, hosted by SWIFT.

RMA publishes final report on KRI Study
Posted: 18 August 2005
The RMA – Risk Management Association has published the final report on the KRI Study for Banking, a global study on the identification and definition of key risk indicators (KRIs) within the financial services industry.

RiskBusiness announces appointment of new Associates.
Posted: 05 April 2005
London, 5 April 2005 : RiskBusiness today announced the appointment of three new associates to cater for increased demand on its services, Tara McLenaghen, Peter Kandl and Jane Donoghue.

RMA and RiskBusiness host operational risk vendor summit.
Posted: 02 November 2004
London, 2 November 2004 : The RMA - Risk Management Association and RiskBusiness International Limited today host a summit for vendors of operational risk solutions, aimed at furthering best practices for measuring, monitoring and managing key risk indicators.

RMA and RiskBusiness announces Part II of KRI Banking Study.
Posted: 24 June 2004
Philadelphia, PA - 24 June 2004 : The Risk Management Association (RMA) and RiskBusiness have launched a project to define and specify key risk indicators (KRIs) for major operational risks throughout financial institutions. The project is the second part of the three-part KRI Framework Study, which began last year. Its purpose is to improve the usefulness of risk indicators in managing operational risks through standardization, benchmarking, loss analysis and the development of related best practices.

RMA and RiskBusiness announces KRI Insurance Study.
Posted: 24 June 2004
Nice, France – 23 June 2004 : In an address at the Ri$k Capital Conference in Nice, France, Jonathan Davies, Managing Director for the Americas at RiskBusiness International Limited today provided an update on the global KRI Study sponsored by RMA – the Risk Management Association and facilitated by RiskBusiness and announced new areas to be addressed under the Study.

RiskBusiness announces an operational risk vendor summit.
Posted: 23 June 2004
Nice, France – 23 June 2004 : RiskBusiness International Limited, the specialist operational risk advisory services firm, announced today at the Ri$k Capital 2004 conference that it will host an international summit for vendors active in the operational risk management solutions space.

RMA and RiskBusiness announces new global study on KRIs.
Posted: 25 October 2003
Philadelphia, PA, 27 October 2003: The RMA - Risk Management Association and RiskBusiness International Limited announced the initiation of a global key risk indicator (KRI) study at the RMA’s Global Operational Risk Forum 2003 in Paris, France.

RiskBusiness is formally launched.
Posted: 14 July 2003
London, 14 July 2003 : A specialist operational risk advisory services firm, RiskBusiness International Limited, has been launched in the United Kingdom and the United States of America. RiskBusiness was founded by Jonathan Davies, formerly Head of Operational Risk at UBS Warburg, and Mike Finlay, who established and managed the operational risk software business at Raft International plc. They have been joined by Peter Walsh, previously the Chief Technology Officer at Financial Objects plc.