Modular Software Framework for Financial Risk Evaluation

Abstract

To effectively manage the various types of financial risk faced daily by institutions in the sector, national and international regulatory bodies have established a range of monitoring and control tools. Central to these tools is the quantification of risk, which enables financial institutions to estimate potential losses and based on these estimations, to design and implement procedures that include the formulation of general policies and risk mitigation strategies. In alignment with these efforts, the University of Medellín has developed a software application named SICRIF a modular suite designed to support the measurement of liquidity risk, market risk, and operational risk through specialized components.