Development and implementation of a risk management system for a leading airline company in Russia: First Line Software App Development project at Qualified.One

Development and implementation of a risk management system for a leading airline company in Russia by First Line Software

Some details

The system for this airline was designed to automate the processes associated with assessing the compounded impact of financial risks on the company',s financial results, modeling and maintenance of payment schedules for operational and financial leasing.

The primary targets for this system include:

  • modeling of risk forecasting and the budget line
  • accounting and maintenance of payment schedules for
operating and financial leasing
  • reporting risk assessments and leasing payments
  • The architecture of the system was implemented by using a three-step approach:

    • backend — Java
    • frontend — JS
    • modelling — R

    The database management system being used is Oracle.

    The duty cycle in the system includes the following steps:

    • data import from external systems
    • simulation and scenario development
    • regular reporting

    As a base of data input becomes market data in real time, it is downloaded from the Bloomberg and Platts systems.

    Then the system carries out modeling and forecasting that is based on historical data that was downloaded. The system uses three types of factors calculation:

    • formula calculation
    • deterministic methods
    • stochastic models

    All reports provide information about factors, objects and financial results indicators.

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