With the increased focus on risk management both internally within an organization and from a regulatory perspective, both senior managment and regulators are focusing intently on the ability of companies to effectively measure and manage their operational risks effectively especially within Basel III Accord, the Capital Requirements Directive and Solvency 2,
This creates a number of significant challenges. Typically, the information required to create a useful measure of operational risk will be drawn from a disparate range of sources. Aggregating this information in a meaningful way is extremely difficult and time consuming.
Symb, in conjunction with industry practitioners has developed Aptius as an advanced risk business solution designed to be compliant with the Basel III, Capital Requirements Directive and Solvency 2 regulation.
Aptius represents a framework for the complete design, analysis and management of the operational risk process from business mapping (including costs and controls) and questionnaire design compliant with AS/NZS 4360:2004, through to multi-dimensional analysis, results reporting and the calculation of financial estimates for the levels of operational risk to which an organisation is subject and the level of capital required to support such risks.
The solution can be used at every stage in the operational risk process, from the identification of business hotspots and availability/quality of data at a high level, down to providing a detailed view of the risks, controls and actions required to optimise an organisation's business activity on an ongoing basis.
In addition, we recognise that the ability to manage operational risk on an ongoing basis relies on the accurate identification of those areas within the business where the risks are greatest. Resources can then be efficiently channelled to implement a pragmatic strategy to limit operational risk losses and one that is compliant with regulatory requirements. In order to provide organisations with the ability to achieve this, Symb has developed Aptius Express.
Aptius Express is a service designed to provide a high level operational risk analysis to an organisation and is built upon the Aptius operational risk framework. The service provides business wide identification of operational risk hotspots, identifying areas that will benefit from focusing of resources and ensuring a sound basis for the management of operational risk, as well as compliance with Basel III and other relevant legislation.
Aptius
Aptius provides business and process modelling, questionnaire design, advanced multi-dimensional analytics, charting and reporting. It is possible to calculate estimates for both risk levels and capital over multiple scenarios including costs with user defined business logic. Multiple data sources can be used in the calculations and may include data from any ODBC database, Excel spreadsheets, Word Documents or mathematical library
Aptius Express
Aptius Express is a high level operational risk diagnostic based on the Aptius framework. It is designed to provide an organisation with an operational risk health-check at a strategic level. Data provided by the analysis can be used to identify risk hotspots and allow management to allocate resources to optimise the business and manage its operational risks effectively
Web based Services
While information can be gathered from any database within a client organisation, the Aptius framework also includes a suite of web-based applications to enable the collection and management of key risk and assessment data.
