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UCO Bank to have new risk management solution

UCO Bank is proposing to have an end to end solution for implementation of credit risk, operational risk, asset liability management and ICAAP in accordance with international best practices and Guidelines of RBI/BCBS on Basel II and Basel III. It is looking for a service provider who can undertake installation, customization, parameterization, implementation and maintenance of application software, system software, database, interfaces etc. as well as supply, installation and maintenance of related hardware at primary and DR centers of the bank for a period of 5 years. The bank wants a Basel II Advanced Approaches Risk Solution Provider which has demonstrable technical competency in implementing Basel II and Basel III Risk Management Solutions. The bank has already engaged an external consultant for implementing IRMS. It may seek this consultant’s guidance/consultation at any stage and in such circumstances and the selected service provider is expected to work with this consultant. The bank is also proposing to implement a fraud risk management enterprise system separately.

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