NEW YORK -- eRisks.com is a new Web site that aims to provide news, education tools, risk analytics and risk-transfer tools for risk professionals in all industries, including financial services and pension funds.
"We're using the Internet as a platform to provide services for professionals. It's a much more effective way than conferences," said James Lam, president of Enterprise Risk Solutions, New York, which provides consulting for enterprise risk management, in addition to running the Web site.
Mr. Lam formerly was chief risk officer at Fidelity Investments, Boston.
"ERS is organized to provide integrated consulting, informational and analytical services to our clients," said Mr. Lam.
If an individual clicks on www.erisks.com, a page with the latest news involving risk management appears.
Risk professionals can benchmark their firms' practices and performance against others in their industry; network with other risk-management professionals in discussion forums and online seminars; and access risk-management information and tools 24 hours a day.
One of the more interesting pages on the site is the Wheel of Misfortune, which contains case studies of infamous financial disasters, including those of Bankers Trust Co., Barings PLC and Long-Term Capital Management.
The program also features the Daily RiskWire providing news and charts that will track current trends and developments of interest to risk managers, which can be received via fax or e-mail.
By early next year the site will offer a product called the Risk Dashboard. Using the Risk Dashboard, users can input their asset and liability information and get back information on their level of risk, including value-at-risk calculations.
Enterprise Risk Solutions is an independent firm formed as a venture within Oliver Wyman & Co., New York, a financial services consulting firm that provided initial staff and seed money to launch ERS. The two firms have a strategic partnership relationship agreement.