A pinch of staff, a heaping tablespoon of funds, and a cup of other resources proved to be the right ingredients for the primordial soup that became OpVantage (www.opvantage.com), a new software company formed by professional services organization PricewaterhouseCoopers (www.pwcglobal.com) and risk solution developer NetRisk (www.netrisk.com).
Headquartered in Connecticut, OpVantage wants to be the global king of quantifying operational risk for financial institutions. It bought OpVaR risk management methodology and data from PwC; meanwhile, NetRisk has tossed in its RiskOps operational risk measurement and management software, databases, and methodologies.
The companies believe the RiskOps/OpVaR combo-through OpVantage-will offer the most comprehensive operational risk quantification software and loss databases.
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