Bank of Baghdad in Iraq has selected BenchMatrix Private Limited for the implementation of RiskNucleus® Operational Risk Management Solution.
RiskNucleus® Operational Risk Management is a single firm-wide solution which automates the process of Incident Management, loss data & analytics, risk and control self-assessment, control testing, key indicators, capital charge calculation for operational risk and reporting.
ORM Solution will empower the Bank of Baghdad to effectively manage their operational risk within an enterprise risk framework. It combines powerful components of ORM, enabling organization to analyze, manage and mitigate operational risk in a simple and efficient manner. ORM solution will also provide Management of operational risk which is heavily dependent on manual processes and majority of the companies still struggle with the conventional tools for implementation. Risk information is being collated as a simple one-dimensional register and risk assessment is conducted based on subjective unit scores.
About Bank of Baghdad
Bank of Baghdad was established as an Iraqi Private Stock Company on 18 February 1992, with an initial capital of IQD 100 bn and currently reached IQD 250 bn. Now it’s a leading bank in Iraq with 35 branches inside Iraq and one branch in Lebanon, the Bank of Baghdad is one of the largest private commercial banks in Iraq providing trusted high-quality financial services. The bank selected as the best commercial banks in Iraq for 2021 by cfi.com
BenchMatrix is a leading advisory services and automated Governance, Risk & Compliance (GRC) technology provider with a focus on developing practical and effective solutions for organizations. The team has several full cycle implementation experiences in multinational organizations with success stories in France, Romania, Canada, Malta, Turkey, Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, Pakistan, Algeria, and Tunisia.