BPS Launches Next Generation Operational Risk Management Platform for Financial Institutions - New Capabilities Increase Control with Customizable Features.TORONTO -- Business Propulsion Systems Inc. (BPS (Bits Per Second) The measurement of the speed of data transfer in a communications system. 1. BPS - Basic Programming Support 2. bps - bits per second ), a leading provider of enterprise governance, risk and compliance (GRC GRC Greece (ISO Country code) GRC Glenn Research Center (NASA) GRC Governance, Risk and Compliance GRC Gendarmerie Royale du Canada (RCMP - Canada) GRC John H. ) solutions, announced today the launch of its next generation Operational Risk Module, an addition to its newly- released BPS Server 5.1 governance, risk and compliance platform. A key component of the Server 5.1 suite, the Operational Risk represents a significant new advantage for financial services companies pursuing leadership and convergence in risk management. Highly customizable, the module supports loss event processing and tracking, collaborative risk/control self-assessment framework and Key Risk Indicator A Key Risk Indicator, also known as a KRI, is a measure used in management to indicate how risky an activity is. It differs from a Key Performance Indicator (KPI) in that the latter is meant as a measure of how well something is being done while the former is an indicator of the (KRI KRI Knight Ridder KRI Kundalini Research Institute KRI Key Risk Indicator KRI Khlopin Radium Institute (Russia) KRI Kapal Republik Indonesia (Republic of Indonesia Ship) KRI Knowledge Research Institute, Inc. ) management. BPS also raises the bar in the area of self-assessment planning, design and execution. Key capabilities include tracking and documenting the review process, peer collaboration, issues and action plan management and configurable and ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. reporting. BPS has also included new capabilities supporting the design and reporting of Key Risk Indicator (KRI) giving enterprises unprecedented visibility into the relationship between risk and activity. Users can track thresholds, sources and triggers, and can cross reference KRIs to the various risks, controls, processes, projects, issues and documents across various functions and departments. All features incorporate BPS' configurable attributes, rules and workflow, and plug directly into BPS Server's dynamic risk hierarchy modeling facility, making the Operational Risk Module the platform of choice for financial institutions leading the way in risk management. "Financial institutions need to manage risk in a way no other type of enterprise does," said BPS CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Mark Opausky. "This latest enhancement to our GRC solution is designed to bring risk data to a new level of quality. Our goal is to help customers not just mitigate risk, but optimize risk management for long-term competitive advantage." About BPS Business Propulsion Systems Inc. (BPS) is setting the standard in enterprise-level governance, risk and compliance solutions for global financial services institutions. The company's flagship product, BPS Server, is a flexible, scalable and comprehensive system for managing compliance, internal audit and operational risk across the organization. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with offices in Toronto and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , BPS provides enterprise-strength solutions that deliver measurable value to clients across North America and around the world. For more information, visit www.bpsserver.com. |
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