Insight & Analysis

Press release: New risk management platform for complete coverage of EU Regulation for Capital Requirements (CRR2)

Published: Sep 2021

17th September 2021 – Profile Software, an international financial solutions provider, announced today the release of the latest upgraded version of RiskAvert, the flexible risk management platform for advanced regulatory capital calculation and reporting, that delivers comprehensive coverage to all latest EU requirements.

Newspaper press release

RiskAvert has been significantly enriched to empower Financial Institutions to handle efficiently the regulatory regime in a dynamically changing business environment providing full coverage of Credit Risk and Operational Risk, capital requirements calculations and reporting, Liquidity LCR & NSFR and Leverage Ratio. As a dynamic risk management platform that keeps evolving, it competitively offers Risk vs Accounting data reconciliation, Comprehensive Analysis and Reporting according to key dimensions of Pillar II and- Pillar III capabilities. It also provides full support of Large Exposures framework and automated, inbuilt manual adjustment calculation. Constant additions are made to the platform to ensure users are always kept up to date with the latest EU requirements whilst offering financial institutions with the tool to easily adjust to any upcoming new regulations.

Through this latest release, RiskAvert, incorporates changes enforced by the CRR2 (Capital Requirement Regulation 2) package. In more detail the platform fully covers the needed EU required CRR2 changes regarding the new methodological approaches introduced for the calculations of CCR capital requirements, the new Credit Risk Capital calculation approaches for the treatment of CIUs and changes on Large Exposures regime, in line with the latest version of EBA Reporting Framework (3.0). Τhis new enhancement safeguards the business and empowers the modern CFO and Risk Officer to make more comprehensive and safe decisions.

Furthermore, the new version of RiskAvert provides an updated and upgraded User Interface, as well as offering significant performance enhancements that enable faster and more secure execution of calculations and reporting procedures.

The new capabilities guarantee all users are always fully aligned with the latest changes and requirements of the supervisory regime, while performing all required related tasks in a timely and efficient manner. The changes in the regulatory landscape demand from risk management platforms to continuously enhance and develop their services so as to better safeguard financial institutions. RiskAvert is doing just that, delivering to meet the needs of continuously evolving marketplace.

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