Profile Software announces the implementation of RiskAvert, the leading risk management solution, at the Cooperative Bank of Epirus, ensuring an integrated coverage according to the European Union’s supervisory framework.
Profile Software, a leading financial solutions provider, has announced today the successful implementation of the RiskAvert solution at the Cooperative Bank of Epirus, for the efficient risk management and full coverage of capital requirements’ calculations as well as the production of the relevant supervisory reports required under the EU Capital Requirements Regulation/Directive (CRR/CRD) framework, also known as Basel framework.
The Cooperative Bank of Epirus offers a wide range of products and services (including Digital Banking Services) for Individuals and Businesses while it operates 9 branches in Epirus and has more than 18,000 clients.
The project delivered to the Bank includes the implementation of Functionalities regarding Capital Requirements’ Calculations against Credit Risk according to the Standardised Approach, against Operational Risks with the Basic Indicator Approach as well as the calculations of minimum capital requirements for Non Performing Exposures (NPE Backstopping). In addition, the solution provided fully covers the Large Exposures Framework, the Liquidity Risk (LCR & NSFR ratios calculation and reporting) and the Supervisory Requirements for Interest Rate Risk in the Banking Book. Respective regulatory reporting requirements for the above areas have also been included.
RiskAvert offers to the Bank the opportunity to benefit from an integrated and flexible platform that ensures data consistency while at the same time providing full control, auditability and transparency. The system’s open architecture allows for configurable management calculations and reporting in a fully user-friendly interface. In addition, the Bank obtains full compliance with the existing and future requirements of the European Union.
Mr. Konstantinos Doulas, Risk Management Director of Epirus Bank, mentions that “Profile Software’s solution shields the security of our operations and guarantees the compliance required with the mandates of the supervisory authorities. I would like to warmly thank Profile Software’s team for the exceptional cooperation during the execution of the project, looking forward to its expansion in order to meet our future needs.”
Mr. Aris Iliopoulos, Regional Managing Director of Profile Software says that “we are delighted to collaborate with the Bank of Epirus, a strong Regional Bank that works responsibly to foster the regional economy and society. We are convinced that RiskAvert solution shall significantly contribute to production, facilitating the staff that supports the Risk Management functions as well as the bank overall, hoping that this project will be the starting point of a long-term cooperation.”
Profile Software remains committed to its vision of providing innovative solutions that enable financial institutions and corporates across the globe to deliver their full potential to their clients.
About Profile Software
Founded in 1990, Profile Software (www.profilesw.com) is a specialised software solutions provider with offices in key financial centres and a presence in 45 countries across Europe, the Middle East, Asia, America and Africa, delivering market-proven solutions to the Investment Management and Banking industries. Profile Software is recognised as an established and trusted partner by international industry specific advisory firms. Profile Software’s solutions enable organisations to align their business and IT strategies, whilst providing the necessary business agility to proactively respond to the ever-changing market conditions.
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