enterprise risk paul bristow gave me a call a few minutes ago , and is sending over some
info . i also received an email yesterday relating to operational risk .
evidently cibc has purchased some software to help quantify there exposure .
- kevin
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 08 / 08 / 2000
10 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" tao , xin " on 08 / 07 / 2000 12 : 26 : 00 pm
to : undisclosed - recipients : ;
cc :
subject : press release - netrisk announces sale of riskopstm software to c
anadian imperial bank of commerce and erste bank
> please find attached an update on our most recent riskops sales . in
> addition , we are currently implementing riskops at a continental european
> financial insitution and a tokyo based japanese financial institution ,
> neither of whom are more members . we hope to issue a press release on
> these clients in the near future .
>
> kind regards ,
>
> lara swann
>
>
>
> >
>
> netrisk announces sale of riskopstm software
> to canadian imperial bank of commerce and erste bank
>
>
> greenwich , ct . july 11 , 2000 - netrisk , inc . , the risk management software
> and advisory firm , today announced that both canadian imperial bank of
> commerce ( cibc ) and erste bank have purchased licenses to its riskops ( tm )
> software product for measuring and managing enterprise - wide operational
> risk . operational risk includes the risk of direct and indirect loss from
> causes as diverse as rogue trading to technology failures to improper
> sales practices .
>
> erste bank , the second largest austrian bank , and canadian imperial bank
> of commerce , the second largest canadian bank , plan to use riskops ( tm ) on
> a continuing basis to help evaluate and quantify their firm - wide
> operational risk capital . the results will be integrated into their
> risk - adjusted return on capital ( raroc ) and consolidated enterprise
> ( market , credit and operational ) risk measures . these measures will help
> both banks to better allocate resources , evaluate individual business
> units on a risk - adjusted basis and improve strategic decision - making .
>
> " we are delighted to continue our working relationships with cibc and
> erste bank by offering the riskops ( tm ) solution to complete their
> operational risk measurement and management processes , " says dan mudge , a
> founding partner of netrisk . " operational risk has been at the forefront
> of the regulators ' minds and both cibc and erste bank are taking leading
> positions in the industry by quantifying capital at risk by business
> line . "
>
> " riskops ( tm ) has enabled us to comprehensively measure and manage
> operational risk for each of our businesses , " says tony peccia , head of
> operational risk management at cibc . " riskops ( tm ) gives us the tools we
> need not only for capital allocation purposes but also for strategic
> decision making . "
>
> " the formal inclusion of operational risk into our overall risk management
> framework has required a significant commitment of erste bank .
> riskops ( tm ) will be used to estimate capital at risk for each business ,
> thereby creating an incentive for stronger risk management within the
> bank , " says franz reif head of risk management of erste bank . " in
> addition , we plan to work with swiss re new markets to evaluate our risk
> financing alternatives to ensure our capital is being used most
> efficiently . "
>
> " netrisk is pleased to continue its leadership role in helping the
> financial services industry develop methods and tools to quantify and
> manage operational risk , " said rob ceske , head of netrisk ' s operational
> risk management division . " as another example , the data standards we are
> developing in conjunction with multinational operational risk exchange ( tm )
> ( more ( tm ) ) , which includes cibc , will significantly benefit the industry ' s
> ability to exchange loss and risk data . "
>
> riskops ( tm ) incorporates a database of published operational risk losses
> from the financial services industry , combined with web - based software to
> allow users to understand operational risk , analyze loss probabilities ,
> scale these losses to their firm and determine operational risk profiles ,
> including operational capital - at - risk . the product displays graphical
> analyses of the causes , effects , probabilities and severities of
> operational risk , specific descriptions of events and measures to help
> senior management and risk managers understand and quantify the sources of
> operational risk . riskops ( tm ) is available via the internet , by means of
> any standard browser .
>
> about netrisk
> netrisk ' s mission is to bring cost - effective , practical , leading edge risk
> solutions to its clients . to do so it is creating on - line communities and
> risk analytic software delivered via the internet . products and services
> offered by netrisk include : riskops - internet - based operational risk
> management solution ; crystal box - interactive performance and risk
> reporting for the investment professional ; and risk advisory - enterprise
> risk management consulting , advice and solutions to the financial services
> industry . gene shanks , the former president of bankers trust , founded
> netrisk , inc . in 1997 . netrisk has offices in greenwich , ct ; new york
> city ; and london . additional information on netrisk is available at
> http : / / www . netrisk . com / and on more at morexchange . org .
>
> about canadian imperial bank of commerce
> canadian imperial bank of canada is canada ' s number two bank . its 1350
> branches a range of banking services , including checking and savings
> accounts , investment products , mortgages and other loans , and credit cards
> to consumers and small to mid - sized businesses . in addition , the bank
> underwrites and sells life , credit , personal property / casualty , and
> non - medical health insurance . cibc world markets provides investment
> banking and other financial services in north america , europe and latin
> america .
> about erste bank
> erste bank is austria ' s oldest and second - largest commercial bank . the
> bank is doing business in six core segments : retail banking , corporate
> banking , treasury , trading and sales , and real estate financing and asset
> management . it has approximately 300 branches with international offices
> in new york , hong kong , and london . as austrian banks consolidate , erste
> bank is increasing its presence in eastern europe . it has subsidiaries in
> croatia and hungary and acquired 52 % of the shares in ceska sporitelna ,
> the second largest bank in the czech republic from the czech government .
> one of erste bank ' s largest shareholders is savings foundation
> anteilsverwaltung sparkasse .
>
>
>
>
>
enterprise risk
paul bristow gave me a call a few minutes ago , and is sending over some
info . i also received an email yesterday relating to operational risk .
evidently cibc has purchased some software to help quantify there exposure .
- kevin
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 08 / 08 / 2000
10 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" tao , xin " on 08 / 07 / 2000 12 : 26 : 00 pm
to : undisclosed - recipients : ;
cc :
subject : press release - netrisk announces sale of riskopstm software to c
anadian imperial bank of commerce and erste bank
> please find attached an update on our most recent riskops sales . in
> addition , we are currently implementing riskops at a continental european
> financial insitution and a tokyo based japanese financial institution ,
> neither of whom are more members . we hope to issue a press release on
> these clients in the near future .
>
> kind regards ,
>
> lara swann
>
>
>
> >
>
> netrisk announces sale of riskopstm software
> to canadian imperial bank of commerce and erste bank
>
>
> greenwich , ct . july 11 , 2000 - netrisk , inc . , the risk management software
> and advisory firm , today announced that both canadian imperial bank of
> commerce ( cibc ) and erste bank have purchased licenses to its riskops ( tm )
> software product for measuring and managing enterprise - wide operational
> risk . operational risk includes the risk of direct and indirect loss from
> causes as diverse as rogue trading to technology failures to improper
> sales practices .
>
> erste bank , the second largest austrian bank , and canadian imperial bank
> of commerce , the second largest canadian bank , plan to use riskops ( tm ) on
> a continuing basis to help evaluate and quantify their firm - wide
> operational risk capital . the results will be integrated into their
> risk - adjusted return on capital ( raroc ) and consolidated enterprise
> ( market , credit and operational ) risk measures . these measures will help
> both banks to better allocate resources , evaluate individual business
> units on a risk - adjusted basis and improve strategic decision - making .
>
> " we are delighted to continue our working relationships with cibc and
> erste bank by offering the riskops ( tm ) solution to complete their
> operational risk measurement and management processes , " says dan mudge , a
> founding partner of netrisk . " operational risk has been at the forefront
> of the regulators ' minds and both cibc and erste bank are taking leading
> positions in the industry by quantifying capital at risk by business
> line . "
>
> " riskops ( tm ) has enabled us to comprehensively measure and manage
> operational risk for each of our businesses , " says tony peccia , head of
> operational risk management at cibc . " riskops ( tm ) gives us the tools we
> need not only for capital allocation purposes but also for strategic
> decision making . "
>
> " the formal inclusion of operational risk into our overall risk management
> framework has required a significant commitment of erste bank .
> riskops ( tm ) will be used to estimate capital at risk for each business ,
> thereby creating an incentive for stronger risk management within the
> bank , " says franz reif head of risk management of erste bank . " in
> addition , we plan to work with swiss re new markets to evaluate our risk
> financing alternatives to ensure our capital is being used most
> efficiently . "
>
> " netrisk is pleased to continue its leadership role in helping the
> financial services industry develop methods and tools to quantify and
> manage operational risk , " said rob ceske , head of netrisk ' s operational
> risk management division . " as another example , the data standards we are
> developing in conjunction with multinational operational risk exchange ( tm )
> ( more ( tm ) ) , which includes cibc , will significantly benefit the industry ' s
> ability to exchange loss and risk data . "
>
> riskops ( tm ) incorporates a database of published operational risk losses
> from the financial services industry , combined with web - based software to
> allow users to understand operational risk , analyze loss probabilities ,
> scale these losses to their firm and determine operational risk profiles ,
> including operational capital - at - risk . the product displays graphical
> analyses of the causes , effects , probabilities and severities of
> operational risk , specific descriptions of events and measures to help
> senior management and risk managers understand and quantify the sources of
> operational risk . riskops ( tm ) is available via the internet , by means of
> any standard browser .
>
> about netrisk
> netrisk ' s mission is to bring cost - effective , practical , leading edge risk
> solutions to its clients . to do so it is creating on - line communities and
> risk analytic software delivered via the internet . products and services
> offered by netrisk include : riskops - internet - based operational risk
> management solution ; crystal box - interactive performance and risk
> reporting for the investment professional ; and risk advisory - enterprise
> risk management consulting , advice and solutions to the financial services
> industry . gene shanks , the former president of bankers trust , founded
> netrisk , inc . in 1997 . netrisk has offices in greenwich , ct ; new york
> city ; and london . additional information on netrisk is available at
> http : / / www . netrisk . com / and on more at morexchange . org .
>
> about canadian imperial bank of commerce
> canadian imperial bank of canada is canada ' s number two bank . its 1350
> branches a range of banking services , including checking and savings
> accounts , investment products , mortgages and other loans , and credit cards
> to consumers and small to mid - sized businesses . in addition , the bank
> underwrites and sells life , credit , personal property / casualty , and
> non - medical health insurance . cibc world markets provides investment
> banking and other financial services in north america , europe and latin
> america .
> about erste bank
> erste bank is austria ' s oldest and second - largest commercial bank . the
> bank is doing business in six core segments : retail banking , corporate
> banking , treasury , trading and sales , and real estate financing and asset
> management . it has approximately 300 branches with international offices
> in new york , hong kong , and london . as austrian banks consolidate , erste
> bank is increasing its presence in eastern europe . it has subsidiaries in
> croatia and hungary and acquired 52 % of the shares in ceska sporitelna ,
> the second largest bank in the czech republic from the czech government .
> one of erste bank ' s largest shareholders is savings foundation
> anteilsverwaltung sparkasse .
>
>
>
>
>