Seminars to prepare tech firms for Basel II

Seminars to prepare tech firms for Basel II

Ingram Micro and HP will host seminars later this month by a European-based expert aiming to raise awareness of the Basel II framework, which takes effect here next January.

A revised framework by the Basel Committee on Banking and Supervision, Basel II, aims to counter credit, market and operational risks faced by banks and other financial service companies by setting requirements and calculation methods for holding sufficient capital. It recognises that credit risk is the major threat to most banks during day-to-day lending and underwriting, and may make banks and other finance firms less inclined to lend to high-risk customers.

Declan O’Mahoney is a consultant at German-based Onsite CSG, which specialises in risk management and business continuity. He will give two seminars – one for the channel and one for end-users.

Ingram Micro’s HP development manager and event organiser Jeff Maslen says awareness of Basel II is low in New Zealand.

“If we do nothing some of our partners will wonder why their revenues are down, because end-users go out of business when they can’t get credit or the banks won’t talk to them.”

Maslen says the framework is an opportunity for the channel to provide risk and data management services.

“They can talk to people about how they’re managing information that goes in and out of their company, how they backup their data and where it’s stored, business continuity and disaster recovery plans.”

O’Mahoney provides risk management training to HP staff in Europe, having been through the introduction of Basel II in European countries, Maslen says.

The seminars take place in Auckland, Wellington and Christchurch on November 26, 28 and 29 respectively.

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