Press Room
Bank of Oklahoma Deploys ERisk Abacus Economic Capital Framework
Monday, January 24, 2005
New York, New York -- ERisk, the leading provider of integrated software and consulting solutions that enable financial institutions to enhance their performance through better risk and capital management, recently announced that the Bank of Oklahoma, a multi-bank holding company based in Tulsa, Oklahoma, had licensed and deployed ERisk Abacus to enhance its enterprise-wide risk measurement and capital allocation capabilities.
In deploying the Abacus Economic Capital framework, Bank of Oklahoma joins a rapidly growing list of banking institutions turning to ERisk for robust software solutions for Economic Capital and RAROC analysis.
Bank of Oklahoma's senior management was seeking to accomplish several key goals, including improved Economic Capital allocation across key business segments, risk-based loan pricing that is more sensitive to industry and risk ratings, risk-adjusted performance measurement as a consideration in the bank's management compensation plan, and improved ability to assess Basel II compliance. The Abacus solution is now a cornerstone of these strategies.
According to Tally Ferguson, Head of Risk Management at Bank of Oklahoma, "Within three months, ERisk provided us with a fully functional software package for calculating enterprise-wide Economic Capital. The ERisk team cleverly leveraged existing data and management reports and used these as inputs for calibrating parameters and modeling risk drivers. ERisk also delivered an internal data collection tool allowing the bank to quickly update inputs for the entire organization, helping the bank ensure an accurate and timely risk assessment picture going forward."
"The Bank of Oklahoma executive team has an advanced view of risk management and risk-adjusted decision-making," stated David Samuels, Senior Vice President at ERisk. "We are pleased that they selected ERisk and our Abacus software solution as a cornerstone of their risk execution strategy. Our ability to deploy the solution to their specifications and within their time horizons allowed the Bank of Oklahoma organization to realize immediate benefits from their investment."
Interested parties can learn more about ERisk and our wide range of risk management software and consulting offerings by contacting the ERisk sales organization at 212-819-0170.
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Press Contact:
Tony Marcos
Director of Marketing
ERisk
(917) 522-1619
tmarcos@erisk.com
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