The database utilizes a unique real-life case study approach and is designed to assist institutions with their analysis of external operational risk events. It is used as a qualitative tool, providing information on control breakdowns, event triggers, insight into why the losses occurred and lessons learned. Containing case studies on approximately 7,000 risk loss events, it is unrivalled in its depth of analysis and coverage.
Dan Mudge, group managing director of Algorithmics said: The new First interface was developed in consultation with clients and demonstrates our continued commitment and investment to our operational risk content business. We currently have over 85 global organizations, including banks, investment banks, insurance companies and buy-side firms as clients and we are constantly working with them to develop and improve the product.
