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Risk ManagementeNewsletter Spring 2020

RiskAvert, Profile’s comprehensive risk management platform, is continuously being enriched with new features to fully support evolving market needs. With the latest regulation still developing and constant changes affecting the final structure, RiskAvert has the flexibility to timely adapt to changes of regulatory framework & reporting and to the introduction of new calculation approaches under CRR II and Basel III reforms.

RiskAvert covers all approaches for Credit Risk Regulatory Capital Calculation allowing the bank to evolve from Standardised to IRB approaches. In addition, Standardised Approaches for Market are also fully covered. Its calculation capabilities accommodate all asset classes and counterparty types, while featuring a customisable credit risk mitigation process to optimally allocate all kinds of eligible credit protection, as defined by each Regulator. Furthermore, it supports Repo and OTC Credit Derivatives netting as well as counterparty credit risk calculation and Large Exposures regulatory reporting. The solution accommodates the automatic submission of all regulatory reports through XBRL, including all relevant regulatory validations and checks required, fully in line with multiple taxonomies. RiskAvert also covers Basic Indicator and Standardised approaches for Operational Risk Regulatory Capital Calculation.

The key functionalities of the cloud-based platform include:

RiskAvert guarantees compliance with the latest requirements as published by the European Banking Authority and encompasses a highly flexible workflow that includes automated mapping from the regulatory templates to the solution’s pre-mapped templates, advanced validation reports to check the accuracy and consistency of the information being reported as well as adaptation to local filing rules. The solution has developed into being a fully parameterised application, that makes it easy to handle changes in key calculation factors including RWs, exposure threshold criteria, CCF mappings/value adjustments/additions and CRM. It is a web-based application supporting the day-to-day users’ operations while ensuring auditability, transparency, control and security and fast implementation with limited IT effort.

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