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Protiviti Signs Technology Agreement with RiskBusiness to Enhance Support of Operational Risk Programs for Basel II and Other Regulatory Compliance Activities Addition of RiskBusiness' Key Risk Indicators Enhances Protiviti's ORM Portal™ MENLO PARK, CA - March 13, 2006 - In a move to help financial institutions and other organizations identify, manage and ultimately reduce operational risks and exposure related to Basel II and other regulatory compliance activities, Protiviti Inc., a leading risk consulting firm, has signed a technology agreement with RiskBusiness International Limited, the risk consultancy responsible for developing Key Risk Indicators (KRIs) for the financial services and other industries. Protiviti has enhanced its Operational Risk Management (ORM) Portal™ with a feature set of key risk indicators that will provide clients with the capability to identify, measure, monitor and report on prioritized risks, and track performance of business processes and related controls. The technology agreement combines the ORM Portal's powerful and uniquely flexible key risk indicator feature-set with access to the KRIeX deep library of content to enable organizations to more effectively measure and ultimately benchmark key risk indicators. These new capabilities will enhance the holistic view of critical enterprisewide risks with specific business and functional risk indicators and enable organizations to manage key risks more proactively. In addition to helping financial institutions comply with the operational risk requirements of the Basel II Accord, the enhanced ORM Portal v2.1 will support nonfinancial clients' Sarbanes-Oxley compliance and enterprise risk management efforts through ongoing monitoring of business processes, controls and performance. "We're pleased to offer a complete solution that addresses operational risk, facilitates a sustainable Sarbanes-Oxley compliance program and supports our clients' progress toward achieving their enterprise risk management goals," said Scott Gracyalny, Protiviti managing director and leader of the company's risk technology solutions. "Combined with our advisory consulting services, we deliver a solution that will help our clients drive performance toward business objectives, manage their associated risks, and monitor control effectiveness." The new key risk indicator feature set in Protiviti's ORM Portal v2.1 will enable clients to: Establish key risk indicator content through a central library Import key risk indicators directly from the KRIeX.org library Set thresholds Measure indicator values and performance levels Monitor threshold variances through notifications and escalation Report on key risk indicators Additionally, key risk indicator measurements can be tracked and managed by client-specific criteria as well as standard industry definitions to enable reporting in client-specific context while supporting future benchmarking exercises. "Integrating the KRI Library's content with our ORM Portal combines our robust application with an industry-leading source for key risk indicators," said Gracyalny. "For our clients, this means we can better help them achieve sustainable, repeatable and cost-effective compliance and risk management programs." "Protiviti's support for the KRI Library will deliver direct value-add to their client-base," said Mike Finlay, managing director at RiskBusiness International. "As more banks and insurance firms recognize the value of standardized indicators and the benefits of benchmarking their own indicator values against their peers, the online access and reporting functionality provided by the ORM Portal will be a crucial differentiating factor to KRI Library subscribers." Protiviti's ORM Portal was first released in the summer of 2005. The enhanced ORM Portal v2.1, featuring the new key risk indicator functionality with direct access to RiskBusiness' KRIeX library, will be available to Protiviti clients in March 2006. Protiviti developed its ORM Portal to assist companies in minimizing losses from operational risk by increasing visibility into operational risk exposures through the tracking of actual, estimated, near-miss or external losses seamlessly integrated with forward-thinking risk and control self-assessment, and now, key risk indicator monitoring. This information provides senior management with a basis for modeling and estimating potential losses that drive capital requirements to support decisions on appropriate risk-adjusted returns on capital deployed. About Protiviti Protiviti (www.protiviti.com) is a leading provider of independent risk consulting and internal audit services. The firm provides consulting and advisory services to help clients identify, assess, measure and manage financial, operational and technology-related risks encountered in their industries, and assists in the implementation of the processes and controls to enable their continued monitoring. Protiviti also offers a full spectrum of internal audit services to assist management and directors with their internal audit functions, including full outsourcing, co-sourcing, technology and tool implementation, and quality assessment and readiness reviews. Protiviti, which has 50 locations in North America, Europe, Asia and Australia, is a wholly owned subsidiary of Robert Half International Inc. (NYSE symbol: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index. About KRIeX.org www.KRIeX.org is the home of the KRI Library Services, a repository for key risk indicators identified, defined and specified by over 50 leading international financial institutions, sponsored by the Risk Management Association (RMA) and facilitated by RiskBusiness International Limited. Please visit us at www.KRIeX.org or contact us at info@KRIeX.org. About RiskBusiness International Limited RiskBusiness International is a risk consultancy specializing in leading operational risk management practices. It is an association of like-minded industry professionals, who have the aim of furthering the risk management discipline to enable better risk-reward decision making. Risk management is an evolving discipline, which has developed in close partnership with the industry. RiskBusiness has, both as individuals and collectively, a depth of established relationships with leading players and regulators in the operational risk field. RiskBusiness is also an active participant in industry working groups and contributes thought leadership through publications and education. RiskBusiness was founded in 2003 by Jonathan Davies and Mike Finlay. The registered head office is in England, with principal consultancy locations in London, New York, Toronto, Hong Kong and Zurich. RiskBusiness consists of seasoned industry players who have proven experience in designing, delivering, implementing and maintaining leading risk practices. Information on RiskBusiness can be found at www.riskbusiness.com. # # # Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services. |
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