Fitch upgrades OpVar tool for operational risk

Fitch Ratings has added a range of new services to its OpVar software suite, an operational risk management quantification tool. Version 5.0, scheduled for release in March, now offers an enhanced data collection module and improved data management processing.

OpVar is the flagship product of OpVantage, a division of Fitch Risk Management. The OpVar software suite allows end-users to collect operational risk data, analyse loss probabilities, scale these losses to their firm and determine operational risk profiles, including operational capital-at-risk.

The new version includes a web-enabled data collection module that enters events into the database. The module notifies, reviews and approves all captured credit events and tracks all historical

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