The KRI Library was designed and developed by RiskBusiness in conjunction with the Risk Management Association (RMA) and its member organisations. The KRI Library is a structured repository of metrics designed to support the ongoing measurement and monitoring of risk and control exposures on a consistent basis, both within or across firms. The KRI Library consists of over 2,500 KRI specifications, initially created through working groups whose participants represented some fifty financial services institutions from around the world, and further developed by ongoing special working groups.

The KRI Library employs the KRI Framework (a sub-set of the RiskBusiness Taxonomy) to define a series of "risk points." Risk points represent significant pairings of Detailed Risk Categories and Business Functions. Each defined "risk point" is associated with a set of applicable KRIs.

In addition, subscribers may view case samples of industry events from the Public Loss Data Service to illustrate each risk point. As noted separately, the Public Loss Data Service is a subset of the Algo FIRST database.

By subscribing to the KRI Library, a firm is automatically entitled to use the KRI Framework, a construct maintained by RiskBusiness that is fully compatible in functionality and taxonomic content with other RiskBusiness products and services.

Key Features of the KRI Library include:

• Detailed mappings and specifications relating to use, metrical criteria and data collection rules for more than 2,500 indicators;
• Facility for subscribers to define custom indicators, and to select standard indicators to modify for internal use;
• Ability to record comments on each indicator for discussion among subscribers;
• Access to standardised industry "risk profiles";
• Right to use the KRI Framework.

For more information on the KRI Library, please click [here], or email us on info@riskbusiness.com.