IRIS integrated risk management announced the enhancement of its operational risk management offering. The OpRisk suite is now also available in Arabic, Bulgarian and Russian languages

The operational risk management suite from Swiss company RCS has been further internationalized and is now not only available in English, German and some other West European languages, but also in Arabic, Bulgarian and Russian. Currently the system is being translated in various other exotic languages such as Kazakh, Persian, Georgian, Ukrainian and many others. This fact will warrant the persistent leading position of IRIS and its offering on international level not only in already developed markets but also emerging ones.

The driving force of this initiative, Nikolaj Tsenov, Sales Area Manager of IRIS commented: "What we understand for user-friendliness in an application has to meet the standards of understandability and bend the boundaries, not by homogenizing but by recognizing the differences and respecting them".

Because the RCS OpRisk Suite enables financial institutions to proactively manage operational risks at every level of the enterprise, language should not hinder this flexibility.

Effective risk identification considers both internal and external factors, which could adversely affect the achievement of the bank's objectives. By making this tool available in several languages we reduce the risk of misunderstandings caused by a possible language barrier.

The OpRisk Suite is a field-proven module tool which can integrate within one system collection of losses, risk self assessment, action tracking, monitoring of key risk indicators, and quantification. The web-based solution also produces tailor-made and fully integrated reports.

In September 2006 IRIS integrated risk management extended the coverage of its financial risk management platform with the Operational Risk modular product of RCS.

The application is offered and implemented by IRIS and its Business Partners as part of the overall riskpro™ analysis offering or as stand alone.

About IRIS AG

IRIS AG, founded in 1992 in Zurich, continuously develops, maintains and supports its riskpro™ financial analysis infrastructure. Selling, implementation and consulting are executed worldwide by IRIS AG and in cooperation with a number of regional partners.

About riskpro™

riskpro™ enables financial organizations to measure and monitor risk and profitability enterprise-wide with a single cost effective unified analysis infrastructure. riskpro™ covers ALM, market and credit risk analytics including Exposure Analysis, Value at Risk, Funds Transfer Pricing, Dynamic Simulation, Basel I and II, Risk-Adjusted Performance Analysis, IFRS 39, etc. These analyses cover all financial products, from saving accounts to exotic options, for any type of accepted valuation method. riskpro™'s underlying universal contract-centric data model and calculation engine ensures precision and consistency in all results. riskpro™ is currently being used or implemented in over 230 small to large financial organizations in 20 countries.

About RCS Riskmanagement concepts systems

RCS Riskmanagement Concepts Systems, founded in 1999, is an independent privately held company incorporated in Switzerland. RCS develops and markets standard solutions for operational risk management, credit risk counterparty rating and insurance risk evaluation.

RCS has its headquarters in Zurich, Switzerland, which is also the exclusive software production location. RCS has sales representatives in Germany, Austria, Spain and Asia (Thailand).

The foundation of all standard system solutions forms the intelligent risk assessment methodology developed by RCS. This enables corporations a considerable increase in risk transparency previously impossible to achieve.