About Us


Eurorisk Systems Ltd. is a private IT company, located in Varna, Bulgaria, that provides software models, systems and services to financial institutions mainly in the countires of the DACH region but also in Eastern Europe. Founded in 1993 by Dr. Anatoliy Antonov, Eurorisk Systems combines fundamental financial knowledge with long-standing academic and practical experiences in the Information Technology area. The company first focused its business on design, development, integration and distribution of software systems in the areas of financial instrument and portfolio pricing, performing portfolio analysis and optimisation. The next developments increased the functionality of the company's software products that concern asset, market, credit and operational risk, rating systems, asset and liability management. Nowadays, Eurorisk Systems Ltd. offers two of its own products - Risk Framework and Risk Engine - as well as solutions for analysis, modeling, evaluation, simulation and optimisation of financial instruments and portfolios. Our portfolio covers quantitative areas, such as financial risks, credit risks, liquidity, operational risks and risk aggregation (including regulatory regimes like IFRS 9, Solvency II, Basel III, etc.). From 1993 up untill now, our software modules have been integrated into products of partners from all over Europe (e.g. Germany, Switzerland, Austria, Bosnia and Herzegovina, Bulgaria, etc.).


• Dr. Eng. Anatoliy Antonov; Owner and CEO of Eurorisk Systems Ltd.

• Education: studies in Information Technology and research work in Software Technologies at universities in Germany; PhD in Software Technologies;

• Lecturer at the Computer Science Department at the Technical University of Varna; lecturer in Risk Management Software at the University of Economics - Varna;

• Competencies: Evaluation and analyses of complex financial instruments, Monte Carlo simulation, market risk, credit risk and operational risks, rule- and knowledge-based systems (e.g. expert systems, rating systems), credit portfolio modelling, Basel III, EMIR, Cash Flow/Earning at Risk, IFSR balance and hedging accounting, Asset Liability Management (ALM), Liquidity management, Reporting (e.g. Crystal Reports, OLAP), object-oriented and event-based system development;

• Publications: more than 120 publications in German and English for specialised magazines in different scientific areas, e.g. software technologies, object-oriented systems, artificial intelligence, risk modeling and risk evaluation, etc.;

• Projects: project leader/adviser for Risk Evaluator, RatingTool Box, Liability Management System (LMT), Liquidity Manager, Cash Flow at Risk, IFRS modules, Risk Framework, Risk Engine, etc.


Eurorisk Systems' team is comprised of highly educated professionals and students, with high expertise in: programming in Java, C# .Net;C++ object oriented programming; WEB approaches; artificial intelligence; neuronal networks that allow innovative modeling, e.g. clustering, prediction, implied classification, distribution recognition, and multi-factor analysis; connectors to other systems and reporting, including OLAP Tools.

  • Dr. Eng. Vladimir Nikolov (Software Director)
  • Dipl. Math. Yanka Yanakieva (Product Manager)
  • Dr. Eng. Plamen Paskalev (Project Leader)
  • M. Eng. Danko Naydenov (Project Leader)
  • M. Eng. Simeon Nenov (System Administrator)
  • M. Eng. Todor Georgiev (Database Administrator, Hotline and Services)
  • M. Sc. Elisaveta Simeonova (Business Development Consultant)
  • Dr. Sc. Svetlozar Stefanov (Chief Accountant)
  • Financial Analysis and IT Projects
  • Dr. Eng. Ventsislav Nikolov
  • M. Eng. Viktoria Paskaleva
  • M. Eng. Sevdalina Draganova
  • M. Eng. Tsvetelina Gyosheva
  • M. Sc. Elma Pjanic
  • Program Development and Integration
  • M. Eng. Ivan Hristov
  • M. Eng. Alexandar Krastev
  • M. Eng. Ivan Bogdanov
  • M. Eng. Nikola Vasilev
  • M. Eng. Vasil Rachev
  • M. Eng. Svetoslav Kyuchukov
  • Server and Internet Programming
  • M. Eng. Ilka Serafimova
  • M. Eng. Snejina Yanakieva
  • B. Eng. Gergana Dimitrova
  • B. Eng. Stanislav Dimitrov
  • Viktor Pejkovski
  • Zheni Mincheva


Eurorisk Systems collaborates closely with the Technical University of Varna and the University of Economics-Varna, which is one of the reasons why the company is among the most innovative software producers in Bulgaria. Doctoral candidates and trainees work on their postgradual assignments and master thesis with us, actively participating in company IT projects.

Additionally, the company is a very active participant, presenter and sponsor at scientific conferences, symposiums, seminars and olympiads in different European countries, where its latest IT developments and researches are being presented.

Furthermore, Eurorisk Systems is part of an International Competence Center (incl. much-net AG, cops GmbH, profit software Ltd. etc.) for development, distribution and implementation of financial software. Together with our partners in Bonn, Vienna, Zurich and Sofia, we provide customers with first-class quality solutions.