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Garrulus Enterprise Creates a Benchmark for Operational Risk Quantification.

Operilda(TM) Evaluates Economic Capital for Basel 2

ZURICH, Switzerland, October 19 /PRNewswire/ -- Garrulus Enterprise today introduced a sophisticated tool for operational risk quantification - Operilda(TM) - a comprehensive methodology and computer model implementing the Loss Distribution Approach for the new accord.
 Garrulus Enterprise developed Operilda(TM) to:
 * create a benchmark for comparing different models and their results,

* promote a comprehensive yet sophisticated simulation engine for a more precise understanding of risks,

* provide benefits for the management and control of operational risk by introducing explicit insurance mechanics.


The model starts with the event partition as primary dimension. Events consist of an aggregate loss mechanism for frequent but small losses and compound losses from separate frequency and severity sources. In addition there is a generator for extreme losses. The frequencies are mutually correlated with a handle on tail dependency. Individual losses are mapped to lines of business and are channelled to a set of insurance contracts. The VaR allocation to events, lines of business and insurance policies is done by Expected Shortfall. The sampling error is estimated to determine the accuracy and the necessary number of simulations. The very fast Monte Carlo engine issues a high-quality standard report with numerical and graphical representations.

Operilda(TM) is available at A free version limited only by the number of simulations to be run exists.

Garrulus Enterprise

Garrulus Enterprise is a LLC of Swiss law established in 2005. Staff members have degrees in economics, engineering and mathematics and a life actuary certificate. Positions held include Head of Risk Management with a re-insurance company, Head of Global Credit Portfolio Management with a major global bank, Managing Director and Senior Consultant in risk management consulting and research engineer with a global utility company.
 Further information:

 Garrulus Enterprise GmbH
 Rita Franzetti-Zilch

CONTACT: Garrulus Enterprise GmbH, Rita Franzetti-Zilch, +41-43-843-95-49
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Publication:PR Newswire
Date:Oct 19, 2005
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