• collecting and managing data about operational losses,
• calculating the capital requirement according to various guidelines,
• creating reports for different levels of management.

The StatOR system consists of three sub-modules: operational events, reporting and report distribution. The characteristic features of each of the modules are:

Operational events module

• collecting data about operational events and loses via an intranet interface; the data is input by bank employees notifying about operational events,
• loading operational events data from the bank's IT systems; the data can be imported automatically from, for instance, the accounting system,
• support for comprehensive event processing: saving, modification, acceptance and approval,
• module user management and access rights administration (e.g. defining employees responsible for inputing data or people responsible for risk management),

Reporting module

Reporting module - the module is equipped with a friendly user interface, which supports defining report parameters and generating reports based on existing templates. Independent data analysis functionality is also provided. The module has the following features:

• predefined reports for recipients at various levels of management,
• a report template mechanism which allows to adjust the reports to particular requirements and standards,
• support for PDF, DOC, XLS, and HTML file formats, including charts, tables, advanced text formatting,
• automated report generation and distribution,
• generating capital requirement reports according to various calculation guidelines:
• basic indicator approach (for banks following the regulations of the Polish Accounting Act or international accounting standards),
• standardized approach,
• advanced measurement approaches,
• comparing the requirements for various approaches,
• the possibility of taking into account security and risk transfer mechanisms,
• Key Risk Indicators (KRI) reporting.

Report distribution module

• sending of the reports to authorized recipients via an intranet application,
• notifications about published reports, exceeding of the KRI, etc.

See also:

• Operational risk management