About MetRisQ

MetRisQ is a Risk Accounting software solution enabling organizations to have a 360 degree view over their risk exposures and mitigation efforts.

The name stands for Metrics for Risk Quantification and is the world's first software solution to implement the leading edge Risk Accounting method.

Risk Accounting is a risk exposure quantification method designed to bring a more intelligible numeric dimension to risk exposures.

Metrics for Risk Quantification

What is Risk Accounting?

Risk Accounting is a revolutionary method of quantifying risk exposures in a quantitative manner, thus providing more dynamic and actionable information to the management in respect to the evolution of exposure concentration, mitigation effectiveness and risk appetite.

Pioneered in JP Morgan Chase back in the '90s, the method underwent extensive transformation within the academic environment in order to address all relevant risks for the financial services industry.

Moreover, portability and applicability in other sectors was also a priority as unified and consistent risk quantification and mitigation has the potential to help the formation of a risk aware culture and lead to more responsible business practices.

The Risk Accounting method is managed as a standard by a not-for-profit organisation, established in the UK, called SERRAQ (which stands for Standards for Enterprise Risk and Risk Attribution Quantification).

MetRisQ is "SERRAQ Approved" thus being guaranteed as fully compliant to the requirements of the Risk Accounting method.

What Experts Say...

The current formulation of the Risk Accounting method was published by "The Journal of Risk Management for Financial Institutions" together with several peer reviews by members of the Journal's editorial board as well as other reputable risk specialists.

All reviews were overwhelmingly positive, adding even more weight to the already academically demonstrated theoretical method. Here are a few excerpts...

“The Risk Accounting (RA) 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”

“The framework presented… harmonizes all quantifiable risks and valuation uncertainties into one consistent framework without getting bogged down with specific risk models, methodologies and calibrations”

“…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”

Risk Accounting References

"Welcome to Risk Accounting" - Introduction article published by CFO Magazine. (2016)

“Risk Accounting & Economic Profit” - Applicability article, also published by CFO Magazine. (2016)

"Journal of Risk Management for Financial Institutions" - Expert comments after the publication of the method. (2016)

MetRisQ - The Vision

Today's world is so obsessed with generating short term revenues and profits that, most of the time, innovation gets in the way.

Innovation takes time and resources which very few are prepared to allocate with a view to potential revenues and profits. If realising potential means more than a quarter, especially in unknown market conditions, then the project is a no go.

At Sinoptix we think differently... Would our investment bring positive change? Then it's WORTH IT.

Risk Accounting in itself is a visionary approach to quantifying risk into a manageable business dimension. Providing the tool-set that enables the business use of Risk Accounting will then definitely bring a positive change: to the people, to the business ethics, to the business decisions, TO THE WORLD...

And this is why we did it.

MetRisQ - the Solution

MetRisQ is a web based, fully configurable software solution that allows business users to input data through simple questionnaires. The data is further converted into quantifiable parameters which are processed by a specialized calculation engine, delivering immediate intelligence to the user.

The main feature of MetRisQ is its ability to aggregate, corelate and consolidate the data into an high-level view of the organization's overall risk exposure, with the ability to drill down to any relevant detail.

As such, MetRisQ opens up new optimization possibilities for the business, by allowing decision makers to precisely focus on the weak spots and by suggesting immediate remedial action, while also providing the estimated impact of the improvement.

MetRisQ - How it Works

MetRisQ works as a highly configurable questionnaire generator that can accommodate both the specifics of the business and the risk analysis approach of the organization. The response to each question dynamically triggers complex calculations in the calculation engine in the background and provides the results in both table and graphic form.

The predefined questions can be refined according to the needs of each organization and organized in any configuration that is deemed suitable.

The parameters used by the calculation engine can also be adjusted and tuned according to the knowledge and experience of the subject matter experts, either from the organization itself or from the industry.

The Risk Accounting method parameters are managed as a standard by SERRAQ (find bellow more about SERRAQ) and are deployed consistently throughout all MetRisQ implementations. This way, the consistency and comparability of results can be reasonably ensured on organization, industry and cross-industry levels.

SERRAQ Approved Software

The Risk Accounting method is based on standards managed and further developed and refined by SERRAQ (Standards for Enterprise Risk and Risk Appetite Quantification), a non-profit organisation established in the UK.

MetRisQ has been developed under the close supervision of SERRAQ and has been approved as compliant with the Risk Accounting method.

This approval guarantees that MetRisQ is consistent in the implementation of the Risk Accounting method.

MetRisQ in more depth...

Don't Miss Out!

MetRisQ is offered for free in proof of concept projects in relevant industries. Such projects would benefit both our clients and our further solution development.

As we are continuously seeking to improve our solution as well as to demonstrate its usefulness in more industries, we are contributing MetRisQ for free in proof of concept projects in industries such as:

  • Asset Management
  • Insurance
  • Government
  • Retail
  • Oil & Gas
  • Scientific Research
  • Manufacturing

"If you can't measure it, you can't improve it."

Peter Drucker

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