The new optional service allows subscribers to RMA’s KRI Library Services to either select key risk indicators (KRIs) from the KRI Library or to define their own key risk indicators and include them in the Library.
Philadelphia, Pa. (June 25, 2007)—The Risk Management Association (RMA) today announced a new optional service for subscribers to its KRI Library Services. The new KRI Monitoring Service allows KRI Library subscribers to define their own key risk indicators and store them in the library. They can, of course, continue to select key risk indicators from the existing library.
Subscribers can then select either public KRIs or their own private KRIs from the KRI Library and define thresholds and reporting triggers for them. Thereafter, subscribers can collect KRI data from across the organization. The data can be entered manually or imported from spreadsheets or through published interfaces, with workflow and authorization. When an indicator’s threshold is breached, the system will automatically notify management, if desired, based off the defined escalation triggers.
Once collected, KRI data can be compared to thresholds and reporting triggers. When necessary, alerts will be automatically generated to nominated individuals within the subscriber’s organization. A range of standard KRI reports, exception reports, and comparative reports is provided as well as links to transfer the collected data directly into the KRI Benchmarking Service, if necessary.
About KRIeX
www.KRIeX.org is the home of the KRI Library Services, a repository for key risk indicators identified, defined, and specified by over 70 leading international financial institutions, sponsored by RMA and facilitated by RiskBusiness International Limited. Please contact KRIeX at info@KRIeX.org.
About RMA
Founded in 1914, The Risk Management Association is a not-for-profit, member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. RMA promotes an enterprise approach to risk management that focuses on credit risk, market risk, and operational risk.
Headquartered in Philadelphia, Pa., RMA has 3,000 institutional members that include banks of all sizes as well as nonbank financial institutions. They are represented in the Association by 18,000 risk management professionals who are chapter members in financial centers throughout North America, Europe, and Asia/Pacific. Visit RMA on the Web at www.rmahq.org.
Contact:
Kathleen M. Beans
RMA Public Relations Manager
215-446-4095