is a web-based environment that provides a set of related subscription services designed to enhance a business’s
ability to identify and monitor real-time risk metrics via an embedded KRI Framework. KRIeX includes an industry generated Library
of risk indicators KRI Library
; an on-line service to support the collection, aggregation,
and management of risk indicators across a corporation KRI Monitoring
; and a benchmarking
platform for internal or external (peer group) comparison KRI Benchmarking
RiskBusiness releases real-time Risk Appetite Service
, the leading international operational risk advisory, risk content, risk information and risk tools firm, today announced the release of its SaaS-based, real-time Risk Appetite Service, the 21st subscription service which makes up the RiskBusiness
OpRisk Solution Set.
The Risk Appetite Service allows a firm to select a wide range of data inputs, define aggregation and weighting criteria for the consolidation of this data, then, using the concept of an exposure profile, to define multiple risk appetite thresholds and accompanying alert triggers per exposure point. On an ongoing data, as the input data changes or increases, the exposure points are continuously recalculated and as soon as a trigger condition is breached, the relevant executives and risk managers can be alerted by email, instant message or mobile phone message.
Firms interested in learning more about the Risk Appetite Service can register to attend a webinar on either 9th August or 5th September 2012 - two different time slots are available on each of these dates, catering for Asia-Pacific and Europe, Middle East and Africa respectively. Sessions for the Americas will be scheduled shortly. To register, please email email@example.com.
Additional information can also be found under Services/Risk Tools above.
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The Library also includes a risk analysis framework that allows a subscriber to view and navigate the content via product/service
risk profiles as a means of identifying key areas of operational risk exposure within the firm. These risk profiles map exposures to
individual operational risk categories within various business processes on a risk point basis and represent inputs from more than 70
firms globally, creating "industry risk profiles"
. The KRI Library has benefitted from broad industry participation and
input. It is structured by industry type, with financial services covered in detail, although much of the core content is applicable to any
corporation. It constitutes a widely accepted standard in terms of the taxonomy of risk embedded in the framework, how content is accessed
and analysed, and in the specific content of each metric record.
has introduced a companion service to the KRI Library, the Scenario Library, which employs the same structured
framework for identifying areas of operational risk exposure affecting the international financial services community. Subscribers
can now use the KRIeX industry risk profiles
to identify, risk point by risk point, historical public loss events which can
assist the firm in evaluating whether the specific form of risk could adversely affect it; KRIs to measure and monitor its current
exposure to that risk; and now, scenarios to assess potential future worst case exposure.
The KRI Library is a living repository, with additional metrics being added on an ongoing basis, both resulting from peer group
workshops facilitated by RiskBusiness
and from suggestions and proposals from subscribers. Ongoing research is focussed on
assessing which indicators are the most appropriate for specific risk points by product/service area within the different major
financial services business lines as well as incorporating the control type and causal classification elements of the
Taxonomy Service into the KRI Library.
For more information on the KRI Library or any related RiskBusiness
Service, contact us at info@KRIeX.org