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 Risk Engines 

Alongside Active Risk Manager, our world leading enterprise Risk Management solution, STS specialise in the development of bespoke risk engines. These are engines that codify very detailed and specific solutions that Active Risk Manager does not cater for. An example of this is the implementation of a Level Crossing Risk Model that consists of detailed risk assessments only applicable to Level Crossings.

The outcome of these implementations is a solution that allows the running of the risk model against the data entered by users. Users can enter, store and retrieve data into the application and see the impact of the risk model on this data. The results can be produced graphically or textually, but allow the user to see the results.

The applications are developed by STS consultants and so are subject to the same quality controls as any solution undertaken by STS. STS’ experience ensures the applications will provide the necessary security, resilience and performance to operate as enterprise wide solutions.

The risk models on which these solutions are based range from very complex statistical models through to basic spreadsheet calculations, but the applications all provide similar characteristics:

• They ensure the consistent application of the risk model rules
  
• Historical and audit record is available of all results and changes to these results.
  
• A simple user interface is provided that shields the users from the potential complexity of the risk model and calculations.
  
• The risk engine is decoupled from the user interface. This ensures that changes and updates to the risk engine can be made without impacting the users and their use of the model.
  
• Reporting is driven from a common source of data and so can be used to build a strong understanding of the risk profile of the solution.