Answering The unanswered question in Risk Management…
How Much?
How much risk exposure has the organization accumulated?
How much a risk event is going to cost?
How much of the Inherent Risk has been mitigated?
How much Residual Risk still needs to be covered?
How much reserves are really needed to effectively (not excessively) cover Residual Risk?
Masterisk Ltd. Advances Risk Quantification with University of Strathclyde Partnership
Masterisk Ltd.’s cutting-edge RASBox solution, designed to help financial services quantify and manage non-financial risks, is one of the key beneficiaries in the latest round of the Scottish Inward Investment Catalyst Fund. In collaboration with the University of Strathclyde, the project will focus on enhancing RASBox’s risk modelling capabilities to process complex risk data into actionable business intelligence.
The fund, supported by Interface and the Scottish Government, awarded up to £10,000 to three innovative collaborations between businesses and Scottish academic institutions. Masterisk’s project underlines the growing importance of sophisticated risk management tools and Scotland’s commitment to fostering groundbreaking R&D partnerships.
Read the full press release for more details on this initiative and other funded projects.
About Us
Masterisk Ltd. is a UK-based software company that develops RASBOX, the state-of-the-art risk quantification solution implementing the Risk Accounting method.
What’s in the RASBOX?
The Method
The Risk Accounting method is the first ever to introduce a unit of measure for risk exposure, thus making risk a finite business parameter. It was pioneered in JP Morgan Chase and researched extensively in three of UK’s leading universities for the last 10 years.
The Solution
RASBOX implements the Risk Accounting method in the core calculation engine, thus being able to process risk data into valuable business information. RASBOX maintains industry neutrality, being capable to provide consistent results for any industry.
The Benefits
Risk is a critical business dimension, required to be exposed in grater detail in the corporate reporting. However, the ways to do it are not yet properly developed. RASBOX helps organizations report their risk exposures in a consistent and comprehensive way.
The Method
Risk Accounting
The one thing missing from your risk assessment routines is numbers.
Risk Accounting introduces a practical way to quantify risk exposures into easy to understand numbers, to help you identify and monitor risk exposures as they accumulate throughout the organization.
The method allows for risk scores allocation to transactions, thus directly linking risk exposure to financial results.
The consolidated reporting showcases the financial performance in the context of the accumulated risk, therefore providing the decision makers with a both backward looking view (based on the financial reports) and a forward looking perspective (based on the risk exposure reports).
Here is what the experts say about Risk Accounting.
The Solution
RASBOX – Makes Risk Visible
How to better contain risk but to put it in a “container”? RASBOX provides a finite view to risk exposures, enabling organizations to manage their risk portfolio in a proactive and effective way.
By offering the high-level overview of the organization’s risk exposures, highly demanded by top-level decision makers, RASBOX makes risk management more effective by immediately spotting exceptions and providing mitigation solutions that could be prioritized based on their effectiveness, cost or time to implement.
The Benefits
Measurement Helps Management
While the old saying “You can’t manage it if you can’t measure it” may be controversial, it is self evident that being able to measure critical business parameters greatly improves management decisions.
Time and exercise made measuring financial performance very sophisticated. However, measuring risk still lags behind, bogged down by subjective practices and beliefs.
RASBOX is here to change that and give managers the tools that would help them successfully drive their business forward.
The Team
Steve Bailey
CEO
Over 40 years of experience in senior roles in Finance, Technology, Sustainability, and Security. He is a qualified accountant (FCCA) and former ACCA Council Member and technology board advisor to FCA and FASB.
Julie Tilke
COO
Dragos Stoica
CTO
Computer scientist, PhD holder in industrial management systems and academic researcher with extensive technical and business experience in banking, insurance, government and professional services.
Paul Costea
Business Development Manager
A seasoned marketing and sales professional with a diverse background covering advertising, media, business consulting, and over 20 years in enterprise software solutions.
What Experts Say about Risk Accounting
[Source: “Comments on Risk Accounting” by Henry Stewart Publications 1752-8887 (2016) Vol. 9, 4 413–420 Journal of Risk Management in Financial Institutions]
“…represents a sizeable step forward in the search for a practical global solution to enterprise risk management (ERM)”
“…(the) proposed framework is both novel in addressing the limitations of existing ERM risk measurement frameworks and practical in adapting the control and reporting frameworks that already exist in accounting and general ledger systems”
“…(the) approach could be a meaningful way of establishing a common metric for operational risk, an area in risk management which, after many years, is still lacking analytical rigour”
Get in touch now...
Risk exposures accumulate as you read this, why not let us help you quantify them?
Write to us at: info@m-asterisk.com
...or fill in the form to the right.
You can also reach us by phone:
+4 0722 301496