PRESS RELEASE
December 10, 2001
Centerprise's CEO Reto Tuffli Participates in Euromoney.com's OpRisk Roundtable
Held in Conjunction with IBM, Industry Panel Addresses Implications of Basle Accord's Capital Requirements
Reto Tuffli, CEO at Centerprise Services, Inc., participated in a Euromoney-sponsored operational risk roundtable titled "Banks Face Risky Business of Basle."
Held in conjunction with IBM, conducted October 18 in London and released online November 18 at www.euromoney.com, the roundtable discussed the business implications of the Basle Accord taking effect January 2005.
Asked about measuring impact of a bank's operational risk "and how does it affect its credit rating," Mr. Tuffli said, "The operational risk challenge is large for the simple reason that you're not just focused on one particular type of data, such as risk. You're talking about resource data, process data, systems metrics and financial metrics. It touches on every single piece of data type in the enterprise - if you want to do it in a comprehensive way."
When the panel was asked how technology would assist firms in developing an operational risk model. Mr. Tuffli said, "(Centerprise is) coming out with a new offering...introducing (CenterSphere) an enterprise system approach for the capital markets. This is not a new concept. It exists in the manufacturing world, but it's not something you see in the capital markets. We see a lot of tie-ins to operational risk simply because operational risk is a catalyst for focusing on process management. People who focus on it strategically will look at it far beyond just a regulatory requirement."
Panel participants included: Margaret Schwartz, director, group risk operations, Abbey National; David Curd, group IT, risk and operational risk director, Barclays; Walter Pompliano, director, financial institutions ratings, Standard & Poors; Pierre Pourguery, head of e-risk management, EMEA, IBM; Jeremy Quick, manager, operational risk review, FSA; and Mark Kalderon, partner, financial services practice, Freshfields Brukhaus Deringer; Keith Saxton, moderator, from IBM; and Mr. Tuffli.
Prior to co-founding Centerprise in 1998, Mr. Tuffli spent
13 years at UBS where from 1994 to 1998, he was both managing director of the
global risk systems group and head of risk control for UBS North America. From
1985 to 1993, he ran UBS' trading desk for US$ fixed income derivatives.
A summary, transcript and video of the roundtable is available at http://www.euromoney.com/opriskdebate.
About Centerprise
Centerprise is a technology solutions software and services company that offers a broad, integrated, yet modular enterprise management system developed specifically for the financial services industry and, in particular, for the wholesale capital markets sector. Their product suite, CenterSphere(SM), designed from the ground up to facilitate the management and control of the financial enterprise, integrates all the key managerial disciplines into a single framework, achieving a new level of cost efficiency for the enterprise not previously possible.
At the same time, the framework is flexible; components can
be implemented incrementally as needed, including: organization and accountability
management, portfolio (position) management, financial reporting (general ledger),
enterprise-wide workflow process, market risk, credit risk and operational risk
management, analytics, daily trading P&L reporting and attribution, customer
relationship management, human resources, legal and compliance, audit management,
market and enterprise data and application integration management.
CenterSphere is the first enterprise system built specifically for the requirements
of capital market organizations by capital market veterans.
The company is headquartered in Purchase, New York. For more information, visit www.centerprise.com.
Contact:
Martin Rabkin
martinrabkin, inc.
+1-845-425-1064 - Tel
+1-914-420-5739 - Cell
mrabkin@optonline.net