Patent ID: 7571109
Filing Date: 2009-08-04
Classification: G06Q

Abstract:
1. A method for assessing operational process quality comprising the steps of: identifying at least one entity which holds a legal, beneficial, contractual, regulatory or other interest in or obligation with respect to a financial instrument and at least one metric which has substantial correlation to operational process quality for a preselected operational process of said at least one entity, wherein said metric includes one or more factors or dimensions each of which is represented by a combination of an identifier and one or more values which correspond, respectively, to one or more values of the factors or dimensions at different points in time; preselecting at least one operational process for quality assessment, wherein said operational process comprises one or more events which follow from or are necessary to initiate, sustain, maintain or terminate a legal, beneficial, contractual, regulatory or other interest or obligation with respect to a financial instrument; obtaining data from one or more sources which represent at least one actual initial condition for said at least one entity; continuously observing, for a preselected period of time, events which relate to said at least one entity and which represent actual performance of said preselected operational process, wherein each of said events comprises an action, transaction or omission with respect to a financial instrument that affects the value of said at least one entity; applying said metric to said data and events; processing said metric, using at least one processor of a computer system, to generate results which represent a comparison of actual performance of said operational process with ideal performance in terms of operational process quality for said at least one entity, wherein said ideal performance is defined by at least one rule and said comparison comprises a determination whether each of said events is compliant with said at least one rule, wherein said at least one rule comprises one or more logical expressions which represent an express, implied or mandated legal requirement or other expectation; calculating, using said at least one processor of said computer system, an operational value at risk based on said generated results for said at least one entity; and expressing substantially in real-time, using a graphical display of said computer system, said calculated operational value at risk for said at least one entity in quantitative terms, whereby a condition which represents a potential loss for said at least one entity is identified prior to recognition of an actual loss occurring.