HUGIN Expert will provide software and services to support OpRisk, a project collaboration between Bayes Risk Management, University of Stavanger, and a number of banks in Norway. The aim of the project is to develop an advanced operational risk management solution enabeling the banks to comply with Basel II Advanced Measurement Approach (AMA).
Bayes Risk Management is based in Stavanger and provides security and risk management consultancy services primarily to the banking & finance and oil & gas sectors.
Bayes Risk Management performed modeling for the project, and HUGIN Expert provided the underlying software tools and development technology.
Besides securing Basel II compliance for several Norwegian banks, the project spearheaded a range of innovative functionality for the HUGIN tool.
For more information about Bayes Risk Management or the OpRisk project (in Norwegian), go www.oprisk.no