Patent ID: 8688501
Filing Date: 2014-04-01
Classification: G06Q

Abstract:
1. A computer implemented method for composing an aggregate risk model representing an operational risk of an organization, said model comprising: receiving, at a programmed processor unit, a risk quantification request including risk input data associated with a plurality of risk nodes from a user input device, said plurality of risk nodes including non-elicited risk nodes invoking a mathematical model that quantifies a risk, and elicited risk nodes that quantify risk by human expert evaluation; dynamically building responsive to said request, via said programmed processor unit, a probabilistic risk network model of interconnected nodes representing an interdependence of risk factors associated with operational risk of an organization and having one or more associated risk models; running one or more risk models at each risk node to output individual risk quantifications for each risk node; wherein for each risk node of said network having multiple associated risk models: combining the single output of said risk node with a model output of another risk node to provide an aggregate risk model,