The first tool designed for operational risk scenario quantification.
MSTAR is based on an analytic decomposition of an expert risk assessment; typically a classical Frequency and Severity rating, into a structured graphical model. Users can use MSTAR’s intuitive functionality to share and collaboratively improve the model design. The completed models are then quantified combining internal or external data as well as expert judgment.
• MSTAR drives improved risk management behavior, because it :
- Elicits a deep understanding of the risk and related drivers,
- Entails a clear formalization of how these drivers influence the risk level
- Enhances transparency of assessment process and facilitates review and challenge
• MSTAR helps all stakeholders understand the process, as they all contribute to the model design and quantification - MSTAR models are the opposite of black boxes.
• MSTAR increases the chances that the regulator agrees that it is fit for purpose, since it allows a capital calculation which is in line with the business and risk profile of the company.
MSTAR is used for regulatory capital and operational risk stress-testing frameworks.
MSTAR is in use within internal models approved by regulators: ACPR & PRA.
MetricStream is the market leader in integrated governance, risk and compliance (GRC) and operational risk management solutions for banks and financial services organisations. MetricStream GRC solutions are used by leading retail banks, commercial banks, asset managers, investment banks, stock exchanges, federal agencies and financial institutions for automating and streamlining risk, compliance, policy and auditing programmes across the enterprises. The MetricStream solution includes integrated functionality for documenting risks, defining controls, managing assessments, identifying issues and implementing remediation plans that are based on industry-specific standard frameworks, best-practice workflows, powerful analytics and embedded risk control libraries. The solution provides a multidimensional approach for managing risk through advanced risk and control assessments, real-time risk intelligence metrics, a centralised loss database, and integrated issue tracking supported by built-in risk analytics and reporting functionality. The MetricStream operational risk management solution is based on the industry-leading enterprise GRC platform that has been categorised in the leadership quadrant by leading independent industry analysts.
Nasdaq BWise is a global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. Based on a strong heritage in business process management, the BWise® GRC Platform provides companies with highly-rated, proven software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management.
BWise's end-to-end solutions support an organization's ability to understand, track, measure, and manage key organizational risks. Nasdaq BWise helps companies truly be in control by balancing performance with their financial and reputational risks, improving corporate accountability, increasing financial, strategic and operating efficiencies. Using BWise, organizations are able to efficiently comply with anti-corruption regulations like FCPA and the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II and III, Dodd-Frank, ISO-standards, and many more.
Nasdaq BWise sales, service and support offices around the globe provide for the GRC needs of hundreds of leading companies worldwide. For more information, visit www.bwise.com.
At BCS Consulting we only work with clients across fi nancial services. Our portfolio includes a varied range of multinational and UK banks, smaller banks, insurance firms and payment and card companies. Across our 140+ strong team of permanent consultants, we have deep domain knowledge in Capital Markets, Retail and Corporate Banking, Risk and Finance.