DBS deploys Reveleus Operational Risk 3.3

BANGALORE: DBS Bank has implemented Reveleus Operational Risk - Version 3.3, as its firm-wide Operational Risk Management system, the bank announced today.

The implementation enables firm-wide monitoring and management of operational risk in line with Basel II standards.

Reveleus Operational Risk, implemented in partnership with consulting firm Capco, provides DBS with the capability to capture and analyze operational risk profiles across multiple locations, business lines and products in an efficient, consistent and integrated manner using a simple workflow.

It is a web-based tool that facilitates the capture of operational risk losses, conducts control-self assessments, monitors key risk indicators and assigns and tracks risk mitigating actions, DBS said in a statement.

Chng Sok Hui, managing director and head of Group Risk Management at DBS, said, “The tool is an enabler to change within DBS and allows our business units and support units to monitor and manage their own operational risk rather than use the tool for collecting operational risk data just for regulatory compliance. This approach is really about putting operating risk management on the desktop of our staff, which is key to shaping our risk management culture.”

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