Société Générale subscribes to Fitch Risk’s Opvantage

French bank Société Générale has entered into a subscription agreement with Fitch Risk to access its financial institutions risk scenario trend (First) database.

Société Générale has adopted tools to enable the quantitative and qualitative assessment of operational risk, says Fitch Risk.

The First database has about 45 clients globally, mostly international banking and securities corporations, including Barclays Bank, HBOS, JP Morgan Chase and Bank of America. The database contains about 4,500 case studies of operational risk loss events.

“We are committed to implementing tools that expand our best practice efforts as well as provide us with greater transparency to potential risks,” said Elisabeth Jeandel, Société Générale’s head of operational risk.

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