Philadelphia (November 11, 2003)
—RMA-The Risk Management Association has entered into an agreement with OpVantage, a division of Fitch Risk Management, which will provide RMA with access to the OpVantage's FIRST Database. This robust database, which has enterprise-wide applications, can help institutions manage operational risks. RMA will use FIRST (Financial Institutions Risk Scenario Trend Database in its various operational risk offerings. The FIRST Database provides case studies on almost 4,500 operational risk loss events to assist clients.
"The database will give RMA a rich source of information for analysis and program development for our members," said Maurice H. Hartigan II, RMA president and CEO. "Quality case studies are essential to understanding operational risk and we believe Fitch Risk's FIRST Database is the most comprehensive and thorough resource available."
"We are very pleased to be working with RMA," said Scott Grayson, managing director and head of global sales for OpVantage. "Its seminars, training programs and publications are recognized as the premier in the industry. The OpVantage FIRST Database content will enrich the programs offered by RMA."
About OpVantage
OpVantage, a division of Fitch Risk, is the first company to bring operational risk software solutions to market, and is the most advanced provider of highly sophisticated operational risk quantification tools and methodologies. The first evolution of its software and data offering entered commercial production in 1998 and has since matured into an enterprise-wide application that provides the tools and information necessary for better operational risk decision-making. The FIRST Database was acquired in 2003. Visit Fitch Risk on the Web at www.fitchrisk.com.
About RMA
RMA is a member-driven professional association whose sole purpose is to advance the use of sound risk principles in the financial services industry. Founded in 1914, RMA promotes an enterprise-wide approach to risk management that focuses on credit risk, market risk, and operational risk. Headquartered in Philadelphia, Pennsylvania, RMA has about 3,000 institutional members that include banks of all sizes as well as nonbank institutions. They are represented in the Association by 16,000 commercial loan, credit, and risk management professionals in the 50 states, Puerto Rico, Canada, and numerous foreign cities, including Hong Kong, Singapore, Melbourne, and London.
Visit RMA on the Web at www.rmahq.org.