Group Risk, Finance and Central Functions (RFC) is the end-to-end service provider for Group & Local Risk, Finance and HR units for Erste Group. This includes the responsibility for operating the related systems and processes, as well as planning and executing Group-wide projects and initiatives, focused on regulatory requirements, Group steering demands and new business needs.

The RFC team and its strategy are designed to be able to manage these very complex challenges for the Group. We are the data integrators.

RFC in Focus - Articles & Insights

Group Credit Risk Solutions (CRS)

CRS part of RFC is the end-to-end service provider for Group & Local Risk and responsible
for operating risk systems/processes as well as planning & executing group-wide projects and initiatives focused on regulatory requirements, group steering demands and new business needs with focus on Risk Parameter Calculations, Risk Reporting and Rating.

Key Projects & Solutions


CRANE stands for Credit Risk Analytical Engine. It is a Erste group-wide solution providing the analytical engine for risk modeling including credit risk data storage. CRANE’s benefits are in two main areas. First, it offers a large data store. CRANE is the first Big Data application based on Hadoop technology in Erste Group. CRANE provides almost unlimited data storage with the usage of Big Data Technology and data archiving. It automatically collects historical data from various rating tools and automates the creation of validation data and versioning of the data and scripts. The second area is the analytical platform. This is used for the development and calibration of risk models.


RISE stands for Risk Information Service Engine, and is a new modern rating landscape (credit risk) as part of the operative lending processes throughout Erste Group streamlined for multichannel and digital. This supports shorter time-to-market of banking product innovations, central governance for risk decision, flexible and dynamic tool and rule engine, modularity, and increased performance.


KRIMI stands for the German word “Kreditmanagementinstrumentarium”, which trans­lates as “instruments for the management of loans”, and is a group of solutions for calculating the credit rating of customers throughout all customer segments in the Austrian and CEE markets. The output is a scoring of customers from the perspective of credit worthiness, which determines whether the customer can get a loan. 


RWA is a solution to calculate Risk Weighted Assets (RWA) for individual banks and the group based on the Basel II and III regulatory framework. With these requirements, all banks have to fulfill minimum capital re­quirements that are defined by the regulator. Capital ratios are calculated by dividing capital by Risk Weighted Assets (RWA). RWAs have to be calculated on a monthly basis for each individual bank and the consolidated group. There are three types of RWA, namely credit risk, market risk, and operational risk.


EWS stands for Early Warning Signals, and is a solution that monitors internal and external events that could potentially affect the credit risk of corporate customers. More specifically, it monitors the credit risk of customers based on data such as information from credit bureaus, financial state­ments, overdue payments, and customer transactions.

RFC Steering & Central Solutions (SCS)

We are the central communication point for Group Risk, Finance and Central Solutions
responsible for portfolio management, financial planning and country reporting. We integrate risk and finance architecture and strategy to ensure all our RFC projects and solutions follow an aligned approach.  Plus we enhance and maintain central and overarching solutions.

Key Projects & Solutions


A solution that calculates the impairment of financial assets according to the new International Financial Reporting Standard IFRS 9.

Group Finance & HR Solutions (FHS)

Group Finance & HR Solutions division is end-to-end service provider for Group & Local Finance and Central Functions cluster responsible for operating ERP systems/processes in area of SAP, Human Capital management solutions as well as Financial Consolidation. We are fully responsible for planning & executing group or local-wide projects and initiatives focused on regulatory requirements, group steering demands and new business needs.

Key Projects & Solutions

Group Finance Platform - SAP S/4 HANA

The Group Finance Platform is one of Erste Group’s core solutions using the power of one of the leading enterprise resource planning tools in SAP. This platform will be the golden source of truth on the entire Erste Group level for central balance sheet and P&L using one General Ledger, based on the Group chart of accounts. It will provide standardisation of processes in a harmonised SAP system landscape, and guarantee compliance with IFRS Standards, GDPR and other regulations, plus reduce operational costs after harmonisation of business processes, data and infrastructure.

HR Success Factors

Using the power of the cloud and SAP’s human capital management platform Success Factors, the new core Erste Group HR solution will provide new HCM modules (like onboarding, recruiting, compensation and benefits, performance) plus continuously rolling out of already in place SaaS applications in relation to training. The future of HCM will embrace the employee experience as the driving force for HR decisions, with Success Factors providing the ideal environment within which all employee services will be provided.


Tagetik is a financial consolidation system for actuals and planned figures. Its core use is to consolidate Erste Group’s financial results on a monthly basis, with additional notes information collected dur­ing quarterly closings and year-end. The system is used by all legal entities in the group, typically the Accounting and Controlling de­partments.

Core SAP

Core SAP is Erste Group’s main enterprise resource planning solution, mainly covering the needs of Accounting, Controlling, and HR.  SAP is used by 134 legal entities, making it the most broadly used service in Erste Group.

Group Market, Liquidity Risk & Compliance (MLC)

MLC as part of EG IT INT is the end-to-end service provider for Financial and Non-Financial Risk and responsible for operating the related systems/ processes as well as planning & executing group-wide projects and initiatives focused on regulatory requirements, group steering demands and new business needs. We provide the systems and processes for fast decision-making and regulatory risk reporting in Erste.

Key Projects & Solutions


The name ARIGO (Audit Risk Governance) comes from the name of the group project to replace the previous Governance, Risk and Compliance (GRC) Management system Accelus. ARIGO is a work­flow tool with typical functionalities like approval workflows, notification management, and a doc­ument repository. It is currently used, or in preparation for use, in several different business areas.


BRiTA stands for Banking Book Risk Target Architecture, and involves the implementation of a state of the art risk management engine, including new BCBS 239 compliant data feeds, calculations/aggregations based on business rule engine.


FRTB-SA stands for Fundamental Review of the Trading Book – Standard Approach and is a
projects whose aim is to ensure regulatory compliance with new regulations with regards to market risk. Implementation of FRTB SA calculation within the current MRS (market risk system) environment centrally for all entities including savings banks is under way, and will help establish a reporting framework based on the new regulatory requirements for Erste Group and Savings Banks.


RICOS (Risk Control System) is one of the key solutions for credit risk management in the group, and is the internal name for the IBM solution ACLM (Algo Credit Limit Management). As a limit management tool, RICOS provides an aggregated view on exposures of customers and customer groups and checks exposures to preset limits. The system is used very broadly across the group, essentially by all financial institutions. A limit check based on RICOS is a group-wide mandatory step in every credit decision.


COMOM is a new implementation project for the Group Compliance Onboarding & Monitoring solution to close regulatory gaps in the areas of AML, FI Monitoring, KYC & KYCC onboarding & monitoring, Trade Finance & Fraud.


AML is a solution to manage compliance with regulations on anti-money laundering, terrorism financing etc, with a focus on customer onboarding and preventing suspicious payments. There are two main areas to ensure compliance. First, banks have to ensure they do not engage in business activities with certain states, com­panies, financial institutions, or private individuals. Second, banks have to monitor and prevent payment transactions to such problematic entities or persons.


MRS (Market Risk System) is the group-wide solution for market risk management based on the concept of Value at Risk (VaR). VaR is a measure for the risk of losses from trading activities and investments. Based on historical data, the VaR measure forecasts how much a portfolio might lose with a defined probability (e.g. 1%) and within a defined period (e.g. 1 day).


ORCA (Operational Risk Collection Application) is the group solution for Operational Risk (OpRisk) management. The ORCA suite contains three modules. The Loss Data Collection module enables the collection of financial losses associated with OpRisk events in accordance to AMA (Advanced Measurement Approach) and Basel II requirements. A second ORCA suite module is the Risk Control Self-Assessment (RCSA) tool used for the bank OpRisk assessment in accord­ance with AMA requirements. And the third module is the Key Risk Indicator (KRI) tool, which is an early warning system for possible OpRisks.