The Basel II Accord identifies operational risk as a standalone exposure that not only needs to be adequately capitalized for, but also well managed by banks. Recent changes in the regulatory and control environment -- notably Sarbanes-Oxley and Basel II -- are focused on moving the assessment and management of risk from the center of the organization to front line business units.
AFS Op Risk provides banks and financial institutions with an operational risk management framework that delivers today's most critical functionality, including:
- Enterprise-wide risk monitoring & control assessment
- Internal loss event database & reporting
- Issue management & sign-off capabilities
- Regulatory compliance & MIS
- Key Risk Indicator tracking
- Scenario Analysis and Stress Testing
- Capital allocation (standardized to AMA approach)
The solution is characterized by the ease with which it can be deployed, learnt and managed by client organizations independently.