Fitch Risk: CIRANO Research Center Subscribes To OpVar Loss Database.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 9, 2003 The internationally-recognized Centre for Interuniversity Research and Analysis on Organizations (CIRANO CIRANO Centre Interuniversitaire de Recherche en Analyse des Organisations (French: Centre for Interuniversity Research and Analysis on Organizations, Canada) ), based in Montreal, has become a subscriber to the OpVar external operational risk loss database, which is owned and managed by Fitch fitch: see polecat. Risk's OpVantage group. CIRANO (the Center) brings together more than 90 Fellows, seven universities and a number of major public and private corporations. The Center's mandate is to produce high quality research, while staying close to the real problems encountered by firms and underlining un·der·lin·ing n. 1. The act of drawing a line under; underscoring. 2. Emphasis or stress, as in instruction or argument. the practical applications of the methods it develops. The research organization is currently engaged in a study of the measurement and management of operational risk, with the goal of modeling the risk inherent in financial transactions and has selected the OpVar database to assist with this and other related projects. OpVantage's OpVar external loss database contains nearly 10,000 publicly reported operational risk losses, and is the largest and most complete operational risk loss database available on the market. The database contains historical data points from the past ten years and events mapped to multiple hierarchies, including Basel risk categories. The database adheres to a set of strict standards for the inclusion of incidents, in an effort to provide a clean and consistent approach to the modeling of operational risk events. In addition, the database contains scaling data in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with recommendations from the Bank of International Settlements on how to collect and model operational risk events. CIRANO joins a user community of diverse financial institutions, research organizations, and regulators who are currently using the OpVantage database to analyze and model operational risk. 'Research organizations are an important source for operational risk awareness as their studies and publications provide valuable insight for financial institutions. We are delighted to have CIRANO as a client,' said Scott Grayson, Head of Global Sales and Client Services, OpVantage. Lisa Busca Pinheiro, a research professional with CIRANO, will be managing the database for CIRANO. Ms. Busca Pinheiro says the database was selected 'to gain the necessary data to push forward with CIRANO's analysis of operational risk tail events.' Over 25 financial institutions currently use OpVantage's database offerings. In addition to the quantitative OpVar database, OpVantage owns a qualitative database of 4,000 case studies, which is used by the group's clients in risk assessments and post-mortem post-mortem adjective After death noun A popular term for an autopsy, see there analysis of large operational risk events. Together, the two databases present an in-depth and unrivaled approach to the measurement and management of operational risk. About OpVantage: OpVantage, a division of Fitch Risk, is the first company to bring operational risk software solutions to market, and is the most advanced provider of highly sophisticated operational risk quantification quan·ti·fy tr.v. quan·ti·fied, quan·ti·fy·ing, quan·ti·fies 1. To determine or express the quantity of. 2. tools and methodologies. The first evolution of its software and data offering entered commercial production in 1998 and has since matured into an enterprise-wide application that provides the tools and information necessary for better operational risk decision-making. The First (financial institutions risk scenario trends) database was acquired in February 2003 and has been integrated into OpVantage's full suite of end-to-end operational risk offerings. About Fitch Risk Fitch Risk delivers the best in risk technologies and enterprise risk advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal in the realm of market, credit and operational risk. Fitch Risk is an affiliate of Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. and a subsidiary of Fimalac, S.A., an international business support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services group headquartered in Paris, France. Fitch Risk has offices in 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 , London and Greenwich, CT. For further information, visit 'www.fitchrisk.com'. About CIRANO: CIRANO is a non-profit corporation incorporated under the Quebec Companies Act. In addition to the funding offered by the Ministere des Finances, de l'Economie et de la Recherche La Recherche is a monthly French language popular science magazine covering recent scientific news. It is published by the Société d'éditions scientifiques (the Scientific Publishing Group), a subsidiary of Financière Tallandier. (MFER), CIRANO receives grants and research mandates from its research teams. CIRANO's goal is to provide relevant research in order to enhance the effectiveness and competitiveness of firms. Located in downtown Montreal, CIRANO presents an impressive research program, with a sizeable team including some 90 fellows, backed by numerous research professionals, postdoctoral researchers A postdoctoral fellow (colloquially, a "post-doc") is a temporary research position held by a person who has completed his or her doctoral studies. Its roots go back to the medieval journeyman. and Master's and doctoral students. |
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