Sparekassen Sjælland-Fyn selects SIGMAOpRisk to advance its operational risk management
SigmaRiskPartners is pleased to announce that Sparekassen Sjælland-Fyn has selected SIGMAOpRisk for managing its operational risks.
SIGMAOpRisk will allow Sparekassen Sjælland-Fyn to optimize its incident registration, review and reporting process. It will furthermore provide a framework for assessing potential operational events, define and map out the control environment, perform portfolio risk (Value-at-Risk) calculations including mitigation effects from the control environment and provide accurate ICAAP assessments based on the actual operational risks at Sparekassen Sjælland-Fyn. It will even eventually allow for benchmarking to external operational loss experience from other peer institutions.
SIGMAOpRisk furthermore includes a suite of standard regulatory and risk reports, that will provide Sparekassen Sjælland-Fyn with a clear understanding of the operational risks at hand.
Sparekassen Sjælland-Fyn is part of the BankData datacenter member institutions and SIGMAOpRisk will provide seemless integration with the BankData platform, allowing all employees at Sparekassen Sjælland-Fyn to easily perform incident reporting via the intranet.
Hans Christian Teisen (Chairman, SigmaRiskPartners) with Lars Petersson (CEO, Sparekassen Sjælland-Fyn).
Says Lars Petersson:
“We have signed with SigmaRiskPartners to roll out SIGMAOpRisk to all of our 40+ branch offices. An ongoing professionalism of our operational risk management is essential to our customers, shareholders, employees, management and the board. In addition, it facilitates cooperation with supervisors, audit and other external partners.
SIGMAOpRisk will give us stronger risk management using fewer manual resources, and it will likely help us tie up less capital in this area going forward. We see many advantages of the more advanced and data-driven management of the operational risk environment by using SIGMAOpRisk.
We could not find other operational risk solutions that were as user-friendly and help us advance like SIGMAOpRisk. We look forward to working with SigmaRiskPartners in the coming years.”
Sparekassen Sjælland-Fyn is a full-service retail bank and is among the 12 largest financial institutions in Denmark. It has more than 40 branch offices in Sjælland and Fyn. It was founded in 1825 and has recently been listed on OMX Nasdaq.
SigmaRiskPartners is a specialized fin/reg-tech firm that offers unique frameworks for risk-based decision-making in financial institutions, large companies and organizations. We provide software and advisory solutions within operational and strategic risk management.
For enquiries regarding this announcement please contact:
Morten Virenfeldt (CEO), SigmaRiskPartners: +45 53624942