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Cooperative Bank of Epirus taps Profile Software for RiskAvert solution

By Gloria Methri

February 02, 2023

  • Compliance Regulatory
  • Credit Risk Management
  • Epirus
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Profile Software

UK-based Profile Software has announced the implementation of its RiskAvert solution at the Cooperative Bank of Epirus. The solution provides risk management and full coverage of capital requirements calculations along with the production of the supervisory reports mandated under the EU CRR/CRD framework.

The Cooperative Bank of Epirus offers a wide range of products and services (including Digital Banking Services) for Individuals and Businesses across its nine branches in Epirus.

The project delivered to the Bank includes the implementation of Functionalities regarding Capital Requirements’ Calculations against Credit Risk according to the Standardised Approach, against Operational Risks with the Basic Indicator Approach as well as the calculations of minimum capital requirements for Non-Performing Exposures (NPE Backstopping).

In addition, the solution fully covers the Large Exposures Framework, the Liquidity Risk, and the Supervisory Requirements for Interest Rate Risk in the Banking Book.

With RiskAvert, the Cooperative Bank benefits from an integrated and flexible platform that ensures data consistency while providing full control, audibility, and transparency.

Konstantinos Doulas, Risk Management Director of Epirus Bank, said, “Profile Software’s solution shields the security of our operations and guarantees the compliance required with the mandates of the supervisory authorities. I would like to warmly thank Profile Software’s team for the exceptional cooperation during the execution of the project, looking forward to its expansion to meet our future needs.”

Aris Iliopoulos, Regional Managing Director of Profile Software added, “We are delighted to collaborate with the Bank of Epirus, a strong Regional Bank that works responsibly to foster the regional economy and society. We are convinced that RiskAvert solution shall significantly contribute to production, facilitating the staff that supports the Risk Management functions as well as the bank overall, hoping that this project will be the starting point of long-term cooperation.”

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