Algorithmics, RMA and RiskBusiness unite op risk resources

Daily news headlines

TORONTO, NEW YORK & LONDON - The Risk Management Association (RMA), RiskBusiness International and Algorithmics have joined forces to unite the RMA Key Risk Indicator (KRI) library and the Algo First external event database. The new integrated platform is called First 500.

First 500 integrates the KRI library's taxonomy of risk processes, products and service types through a common user interface. Acting as a sub-selection of Algorithmics' database of 8,000 operational risk, corporate governance and compliance case studies, First 500 is aimed at firms who want to combine external event analysis derived from the database within their internal KRI selection, Risk Control Self Assessments (RCSAs), risk maps and scenario analyses.

Existing users of the KRI library will also benefit from the linkage between the two to provide warning of op risk issues. The new database was designed by risk advisory RiskBusiness International on the same online platform that supports the KRI library, but is not limited solely to KRI subscribers.

"We have been looking at ways to extend the reach and use of the Algo First external event database and to create linkages to key risk indicators," says Penny Cagan, managing director for operational risk at Algorithmics and head of Algo First. "We are very excited about this joint effort as we believe it has enabled the development of a product that will enhance the use of external event data at a granular business line level."

  • LinkedIn  
  • Save this article
  • Print this page  

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: