BASEL 2

Cook Ratio was only considering Credit Risks. The new regulation Basel 2 comprehends any type of risks, including operational risks.

Pilar 2 of this law is highly restrictive and set new governance :

Internal governance aims at ensuring that an institution’s management body (both the supervisory and management function) is explicitly and transparently responsible for its business strategy, organization and internal control.

Also, Operational risks are defined by the Basel Committee as "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events."

This definition means that the risk of loss can come from :

• A failure of the Information system where an employee or any person in the financial institution works,
• Internal fraud from a mistake, a faint or an intentional mislead…

In these circumstances, it has become essential to determine :

• Who is who ?
• Who does what ?
• Who is allowed to do what ?
• Who does reach what ?
• Who has given the authorization to do what ?
• ...

In this purpose of compliance, KLEVERWARE leads companies in setting up controls and enable them to :

• make an inventory of risks,
• master risks and control them,
• to secure system with permanent control,

So that, anyone in the company may fulfill his responsibilities, being helped with information system, processes, tools and practices appropriate with his function.

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