Algo offers op risk system to deal with multiple regulatory regimes

Canadian software company Algorithmics has updated its operational risk management system to consolidate data capture for all regulatory information ranging from Basel II to Sarbanes-Oxley.

The upgrade, Algo OpRisk Version 4.5.1, aims do away with managers having to repeatedly re-enter information to satisfy different regulatory regimes.

The upgraded system should also reduce the likelihood of inaccurate or inconsistent reporting to regulatory bodies, This potentially could reduce the amount of capital set aside to cover operational and reputational risk.

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