Open Risk is supporting the development of semantic web technologies towards facilitating risk management projects. This page organizes the currently developed and published tools. All ontologies are released under the Creative Commons Attribution 3.0 (CC BY 3.0) License.
In principle any semantic technology can be the starting point for risk management ontologies. Open Risk adopts the W3C’s Web Ontology Language (OWL). OWL is a Semantic Web language designed to represent rich and complex knowledge about things, groups of things, and relations between things. OWL is a computational logic-based language such that knowledge expressed in OWL can be exploited by computer programs, e.g., to verify the consistency of that knowledge or to make implicit knowledge explicit.
OWL documents, known as ontologies, can be published in the World Wide Web and may refer to or be referred from other OWL ontologies. OWL is part of the W3C’s Semantic Web technology stack, which includes RDF, RDFS, SPARQL, etc.
The following is the list of our current published ontologies.
Financial Competences Ontology
The Financial Competences Ontology (FCO) is a semantic web framework that aims to represent and categorize financial competences. FCO is described using W3C RDF Schema and the Web Ontology Language OWL. FCO aims to conform as closely as possible to the European Union/OECD (2022) Financial Competence Framework for adults.
Business Model Risk Ontology
The Business Model Risk Ontology is a framework that aims to represent and categorize knowledge about Business Models, in particular their Risk profile.
Credit Ratings Ontology
The Credit Ratings Ontology is a framework that aims to represent and categorize knowledge about Credit Rating Agencies and related data (Credit Ratings) using semantic web information technologies.
Description of a (Risk) Model Ontology
The Description of a (Risk) Model Ontology is a framework that aims to represent and categorize knowledge about risk models using semantic web information technologies. The Risk Model Ontology, codenamed Description of a Model (DOAM) codifies the relationship between the various components of a risk model universe.
Non-Performing Loan Ontology
The Non-Performing Loan Ontology is a framework that aims to represent and categorize knowledge about non-performing loans using semantic web information technologies.
Risk Function Ontology
The Risk Function Ontology is a framework that aims to represent and categorize knowledge about risk management functions. Codenamed RFO, it codifies the relationship (roles and responsibilities) between the various persons involved in a risk management organization.