at Financial Technnology Year
Please contact them if you have any questions.
IBM OpenPages Operational Risk Management from IBM
An enterprise platform that helps banks manage operational risk through a structured framework. Includes capabilities for risk and control self-assessments, key risk indicators, incident management, scenario analysis, capital calculation, and regulatory reporting aligned with Basel requirements.
Product analysis by function
Operational Risk Management for Risk Management
Platforms for identifying, assessing, and mitigating risks from inadequate processes, people, systems, or external events.
More Operational Risk Management
More Risk Management ...
User Access Controls
(10 Yes /10 Known /10 Possible features)
|
Multi-factor Authentication Requires multiple forms of verification before access is granted to the system. |
IBM OpenPages supports multi-factor authentication via integration with IBM Security Verify and third-party IdPs. | |
|
Role-based Access Control Allocation of access permissions based on the user's role in the organization. |
Role-based access control is a core part of OpenPages' user management features, allowing permissions by function or department. | |
|
Granular Permission Levels Ability to define very specific access rights at module, data, or transaction level. |
IBM documentation details the ability to set granular module- and object-level permissions. | |
|
Single Sign-On (SSO) Integration Enables users to access multiple applications with one set of credentials securely. |
Single Sign-On (SSO) integration is mentioned across IBM's OpenPages materials and supported via SAML and OIDC. | |
|
Audit Trails on Access Changes Automatic logs of all changes made to user permissions and access rights. |
Audit trails for access and permission changes are outlined in security and compliance best practice guides. | |
|
Session Timeout Controls Automatic logoff users after a period of inactivity. |
Session timeout controls are configurable in OpenPages according to IBM's security settings documentation. | |
|
User Access Review & Certification Periodic verification and re-certification of users’ access rights. |
User access review processes and certification workflows are available as part of compliance support. | |
|
Failed Login Attempt Monitoring Records and alerts on multiple failed login attempts. |
Failed login attempt monitoring is included in IBM OpenPages' security event logging capabilities. | |
|
Access Request Workflow Automation Automates the process for users to request and obtain access based on workflows. |
Access request workflow can be automated using OpenPages' workflow engine. | |
|
Real-time Access Revocation Ability to revoke user access instantly. |
Real-time access revocation is possible via administrative controls in the OpenPages user management UI. |
Data Integrity & Audit Trails
(9 Yes /9 Known /10 Possible features)
|
Comprehensive Audit Logs Detailed records of all system activity, changes, and data edits. |
Comprehensive audit logs are a foundational feature of OpenPages for regulatory compliance. | |
|
Immutable Data Storage Ensures data cannot be modified once written, supporting regulatory requirements. |
No information available | |
|
Change Tracking Granularity Level of detail for every change (field, user, timestamp). |
Change tracking granularity (who, what, when) is supported and programmable through the audit module. | |
|
Historical Data Versioning Ability to retrieve and review previous versions of data records. |
Historical data versioning is available, supporting edit histories for regulated data objects. | |
|
Automated Data Backups System automatically backs up critical data on a scheduled basis. |
Automated data backups are part of IBM's managed OpenPages deployment and disaster recovery solutions. | |
|
Data Reconciliation Tools Ability to compare and reconcile internal data with external or legacy sources. |
Data reconciliation tools are supported via configurable reporting and integration modules. | |
|
Tamper Alerts Detection and notification of unauthorized data changes. |
OpenPages includes alerting and logging for unauthorized data changes ('tamper alerts'), aligning with compliance needs. | |
|
Data Validation Rules Automated checks that validate data input against set business rules. |
Data validation rules are configurable per record type in the forms and workflow designer. | |
|
Digital Signatures Support for cryptographic signing of records or transactions. |
Digital signature support is available for records and regulated transactions (used in compliance and e-sign frameworks). | |
|
Time-stamping of Transactions Record the exact times for all key user actions. |
Time-stamping of transactions is natively supported in OpenPages audit and event logs. |
Risk & Incident Reporting
(10 Yes /10 Known /10 Possible features)
|
Customizable Incident Taxonomy Ability to define and adjust categories for risk events. |
Customizable incident taxonomy available through the incident management module's configurable risk categories. | |
|
Real-time Incident Reporting Allows users to report incidents as soon as they occur. |
real-time incident reporting is enabled for all users via web UI and forms. | |
|
Automated Escalation System can route incidents to the appropriate level of management based on severity. |
Automated escalation is set up through OpenPages workflows based on incident severity and predefined rules. | |
|
Attachment & Evidence Uploads Allows supporting files to be attached to incident records. |
Attachment and evidence uploads are explicitly mentioned in incident and case management documentation. | |
|
Anonymous Reporting Capability Users can report incidents without disclosing their identity. |
Anonymous reporting is supported in incident management through special workflow configurations. | |
|
Incident Status Tracking Monitor progress of incidents from reporting to resolution. |
Incident status tracking and dashboards are key features in OpenPages' incident/case management. | |
|
Root Cause Analysis Tools Built-in methods to help determine why an incident occurred. |
Root cause analysis tools provided as part of risk self-assessments and incident workflow tools. | |
|
Incident Severity Scoring Grading system to quickly assess and prioritize incidents. |
Severity scoring models are configurable for incidents and risks across the platform. | |
|
Event Timeline Visualization Timeline view of incident events and steps taken. |
Event timeline visualization is provided in incident/case detail views and reporting dashboards. | |
|
Management Commenting & Collaboration Enables managers to comment and collaborate on incident investigations. |
Commenting and collaboration are included in role-based workflows for investigations and reviews. |
Risk Assessment & Evaluation
(10 Yes /10 Known /10 Possible features)
|
Risk Register Management Centralized registry for all identified operational risks. |
Risk register management is a foundational module of OpenPages, supporting centralized risk log. | |
|
Customizable Risk Scoring Matrix Ability to define framework for likelihood and impact scoring. |
Customizable risk scoring matrix and framework setup are core to implementing Basel-style scoring in OpenPages. | |
|
Bulk Risk Assessment Uploads Import risk assessments in bulk from external files. |
Bulk risk assessment uploads are supported via import tools (CSV, Excel) and often leveraged during onboarding. | |
|
Risk Heat Maps Visual representation of risk likelihood versus impact. |
Risk heat maps are a standard visualization used in risk register dashboards and analytics. | |
|
Key Risk Indicator (KRI) Tracking Monitor and track key operational risk indicators. |
KRI tracking is supported; users can define, monitor, and analyze KRIs across risk categories. | |
|
Automated Risk Scoring Automatically updates risk scores based on input data and thresholds. |
Automated risk scoring via rule-sets and KRI thresholds is part of risk evaluation features. | |
|
Periodic Review Scheduling Schedule and track completion of risk reviews. |
Periodic review scheduling is available for risks, controls, and KRIs. | |
|
Risk Appetite Setting Configure thresholds for acceptable risk across categories. |
Risk appetite thresholds are configurable for entity- or risk-type groupings, in line with Basel guidance. | |
|
Residual Risk Calculation System calculates risk after controls are applied. |
Residual risk calculation (post-control) is programmed into OpenPages' risk analysis and control frameworks. | |
|
Mitigation Action Tracking Track progress of action plans to address operational risks. |
Mitigation action tracking is provided for risks and incidents with assignment, status, and deadline. |
Control Management
(10 Yes /10 Known /10 Possible features)
|
Control Library Central repository for all operational controls setup in the system. |
Control library management is a core OpenPages module (controls can be linked to risks). | |
|
Control Effectiveness Assessment Facilitates regular evaluation of control performance. |
Regular evaluation of control effectiveness is automated or user-driven in OpenPages workflows. | |
|
Automated Control Testing Tools to test controls automatically and record results. |
Automated control testing toolsets are available for scheduled and ad hoc control assessments. | |
|
Control Mapping to Risks Ability to link controls directly to risks they mitigate. |
Control mapping to risks is directly supported (and required for Basel/CCAR reporting functions). | |
|
Test Scheduling & Reminders Automated scheduling and reminders for control testing. |
Test scheduling and reminders can be configured for all recurring control/risk review activities. | |
|
Control Owner Assignment Assign responsibility for specific controls. |
Control owner assignment and accountability is tracked as standard per control/mitigation record. | |
|
Control Documentation & Versioning Maintain records and change versions of control documentation. |
Control documentation with versioning and change logs is standard for evidence and reporting. | |
|
Automated Alerts for Control Failures Immediate notification if a control test fails. |
Automated alerts for control failures can be set up via the workflow/rules engine. | |
|
Evidence Capture for Control Tests Upload or auto-link evidence for control testing results. |
Capture and upload of control test evidence is a configurable part of each control test step. | |
|
Key Control Identification Flag critical controls essential to the risk framework. |
Controls may be flagged as 'key' in the OpenPages control register for reporting purposes. |
Workflow & Task Automation
(3 Yes /3 Known /10 Possible features)
|
Rule-driven Workflow Engine Automated routing/regulation of processes based on defined business rules. |
Rule-driven workflow engine supports automation and process controls according to business rules. | |
|
Automated Notifications Automatic email, SMS, or in-application alerts for tasks and deadlines. |
Automated notifications via email, in-app, and SMS (when configured) supported. | |
|
Task Assignment Automation Assign tasks to relevant parties based on workflow configuration. |
. | No information available |
|
Calendar Integration Seamless integration with corporate calendars for scheduling reviews, tasks, or meetings. |
. | No information available |
|
Approval Workflow Customization Define multi-step approvals for key risk processes. |
Approval workflows are highly customizable in OpenPages, including multi-step configurations. | |
|
Automated Escalation Paths Escalate overdue or critical tasks as per preset rules. |
. | No information available |
|
Bulk Task Management Ability to manage and update tasks in bulk. |
. | No information available |
|
Task Completion Tracking Comprehensive tracking of task status and completions. |
. | No information available |
|
Template-based Task Creation Create and deploy recurring tasks from templates. |
. | No information available |
|
SLA Enforcement Mechanisms Monitor and enforce Service Level Agreements on process tasks. |
. | No information available |
Reporting & Analytics
(10 Yes /10 Known /10 Possible features)
|
Ad-hoc Report Builder Users can create customized reports using system data. |
Ad-hoc report builder for custom operational risk ad analytics is core to IBM OpenPages reporting. | |
|
Standard Regulatory Reports Pre-built templates for required compliance and regulatory reports. |
Pre-built and standard regulatory report templates (Basel II/III, SOX) are provided. | |
|
Dashboard Visualization Visual dashboards providing at-a-glance status of key metrics. |
Dashboard visualization configurable for risk, incidents, controls, and status views. | |
|
Export to Excel/PDF/CSV Ability to export reports in multiple standard formats. |
Export to Excel, PDF, and CSV formats is available in reporting and dashboard modules. | |
|
Real-time Data Refresh Reports draw from live system data with fast refresh rates. |
Real-time data refresh for in-app analytics/reports, subject to user data permissions. | |
|
Drill-down Analytics Click-through for detailed breakdowns of aggregate figures. |
Drill-down analytics is available for more granular risk and loss event investigation. | |
|
Scheduled Reports Automate regular report delivery to users and stakeholders. |
Scheduled and periodic reports can be set up for compliance and management reviews. | |
|
Trend Analysis Identify risk trends over time, including seasonality. |
Trend analysis on risk and loss event histories is available within reporting suite. | |
|
Interactive Visualizations Users can manipulate charts and visuals to slice and dice data. |
Most dashboard visualizations are interactive and support user manipulation. | |
|
Data Retention Controls Configure how long historical reports and data are kept. |
Data retention controls for compliance are configurable at the organizational or object level. |
Integration & Interoperability
(9 Yes /9 Known /10 Possible features)
|
API Access Secure REST or SOAP APIs for data ingestion and extraction. |
API access (REST/SOAP) available for external integration and data extraction. | |
|
ERP/Core Banking System Integration Seamless transfer of data to/from main banking operational platforms. |
Integration with ERP and core banking systems is available via API and direct connectors. | |
|
Single Sign-On (SSO) Support Allows consistent logins across platforms with centralized security. |
SSO support (cross-platform) is implemented via SAML and OIDC compatibility. | |
|
Data Import/Export Scheduler Automate periodic data imports and exports. |
Data import/export scheduler available, allowing regular scheduled file and report transfer. | |
|
Third-party Risk Data Integration Incorporate risk data feeds from external vendors. |
Integration with third-party vendors (risk data feeds) supported via API. | |
|
External Audit Tool Compatibility Direct interface for external auditors to pull necessary reports. |
OpenPages has compatibility for external audit tools (data extraction/report interface). | |
|
Webhooks for Notifications Push system alerts and events to other applications instantly. |
No information available | |
|
Identity Provider Integration Works with enterprise identity and access management systems. |
Integration with enterprise IAM/IdP available (IBM Security, Azure AD, Okta, etc.). | |
|
Custom ETL Tools Extract, transform, and load tools specifically for operational risk use-cases. |
Custom ETL tools for operational risk can be deployed or configured via IBM's integration suite. | |
|
Data Enrichment from External Sources Augment risk data automatically with additional context from external systems. |
Automatic data enrichment from external sources is supported through connectors and ETL. |
Compliance & Regulatory Support
(10 Yes /10 Known /10 Possible features)
|
Regulatory Update Alerts Notifies users of relevant changes in the regulatory landscape. |
Regulatory update alerts are available as part of compliance tracking and IBM regulatory intelligence. | |
|
Compliance Checklist Tools In-built checklist templates for key compliance requirements. |
Standard compliance checklist templates included and extensible per regulatory domain in OpenPages. | |
|
Audit Readiness Score Generates a score or readiness level for upcoming audits. |
Audit readiness scoring/reporting is available as part of audit/compliance modules. | |
|
Automated Regulatory Filings Prepare and file required regulatory documentation automatically. |
Automated regulatory filings (Basel, local) supported via reporting and document automation features. | |
|
GDPR/Privacy Controls Specific features to support data privacy laws (data restriction, deletion). |
GDPR and privacy controls (right to delete, restrict, audit) are called out by IBM. | |
|
Built-in Basel III/IV Templates Standardized templates for operational risk under Basel rules. |
Built-in Basel III/IV templates for operational risk are provided to support regulatory reporting. | |
|
SOX Control Mapping Map system controls and features to Sarbanes-Oxley sections. |
SOX control mapping available, aligning controls/activities with SOX requirements. | |
|
Regulatory Workflow Automation Automate compliance-related workflows (e.g., attestation). |
Regulatory workflow automation configurable for compliance attestations, signoffs, and review cycles. | |
|
E-Signature for Compliance Support digital signatures on compliance suites. |
E-signature for compliance records is supported (for audit/compliance documentation). | |
|
Audit Trail for Compliance Activities Record all compliance-related actions for audit purposes. |
Audit trail for all compliance activities is standard in OpenPages. |
Risk Notification & Escalation
(0 Yes /0 Known /10 Possible features)
|
Real-time System Notifications Instant, in-system notifications for key risk events. |
. | No information available |
|
Email & SMS Alerts Critical risk events can generate email/SMS alerts based on severity. |
. | No information available |
|
Custom Escalation Matrix Configurable rules for whom to notify and escalate at each risk threshold. |
. | No information available |
|
Executive Dashboard Alerts High-severity risks appear prominently on executive dashboards. |
. | No information available |
|
Mobile Push Notifications Send alerts to mobile devices of key personnel. |
. | No information available |
|
Prioritized Alerting Alert urgency and delivery methods adjust by risk classification. |
. | No information available |
|
Customizable Alert Templates Define alert content and appearance for various risk types. |
. | No information available |
|
Escalation Tracking Log Historical logs indicate all escalations made and handled. |
. | No information available |
|
Integration with Incident Management Seamless transition from alert to incident management workflow. |
. | No information available |
|
Redundancy Controls for Alerts Backup methods to ensure critical alerts are never missed. |
. | No information available |
Security & Reliability
(8 Yes /8 Known /10 Possible features)
|
Full Data Encryption Data is encrypted at rest and in transit. |
Full data encryption (in transit and at rest) meets financial sector standards and can be configured. | |
|
Disaster Recovery Planning Disaster recovery processes are defined, tested, and supported. |
Disaster recovery planning—including periodic tests—is part of IBM's managed OpenPages offering. | |
|
High Availability Architecture System design allows for minimal downtime and quick recovery. |
High availability architecture (HA) is a core platform feature, supporting banking SLAs. | |
|
Vulnerability Scanning Automatic scanning for security vulnerabilities. |
Vulnerability scanning is part of IBM's security suite and included in OpenPages cloud. | |
|
Penetration Testing Support Platform allows for or supports regular pen testing. |
Platform supports regular penetration testing via customer and IBM security teams. | |
|
Cybersecurity Incident Monitoring Real-time alerts and logs for suspicious activity. |
Cybersecurity incident monitoring is available through IBM's suite, tightly integrated with OpenPages. | |
|
Redundancy & Failover Mechanisms Systems in place to handle hardware or network failure automatically. |
Redundancy and failover are standard to OpenPages managed deployment. | |
|
Service Level Uptime Percentage of time the system is guaranteed to be available. |
. | No information available |
|
Average Recovery Time Objective (RTO) The typical time needed to restore system functionality after a disruption. |
. | No information available |
|
Access Logging & Monitoring All access and actions are logged and monitored for anomalies. |
Access logging and monitoring is comprehensive and provides audit-ready access trails. |
User Access and Security
(1 Yes /1 Known /12 Possible features)
|
Role-based Access Control Ability to assign granular permissions to specific user roles (e.g., analyst, manager, auditor). |
. | No information available |
|
Single Sign-On (SSO) Supports single sign-on with popular identity providers. |
. | No information available |
|
Multi-factor Authentication Optional requirement for multi-factor user authentication. |
Multi-factor authentication—IBM OpenPages supports this natively and through integration. | |
|
Audit Logging Comprehensive logs of all user actions and system changes. |
. | No information available |
|
IP Whitelisting/Blacklisting Restriction or permission of access from specific IP addresses. |
. | No information available |
|
User Session Timeout Automatic logoff after a set period of inactivity. |
. | No information available |
|
Password Policy Enforcement Customizable password strength and rotation policies. |
. | No information available |
|
Number of User Profiles Maximum supported user accounts concurrently active. |
. | No information available |
|
Change Management Workflow Structured workflow for reviewing and approving permission changes. |
. | No information available |
|
Data Encryption at Rest All data is encrypted while stored. |
. | No information available |
|
Data Encryption in Transit All transmitted data is encrypted. |
. | No information available |
|
Security Certification Holds industry security certifications (e.g., ISO 27001, SOC 2). |
. | No information available |
Risk Identification & Assessment
(0 Yes /0 Known /11 Possible features)
|
Risk Register Centralized repository for all identified risks. |
. | No information available |
|
Risk Taxonomy Customization Configurable categories/types of operational risk. |
. | No information available |
|
Bulk Risk Import Ability to import risk data from external sources (e.g., CSV, Excel). |
. | No information available |
|
Risk Scoring Model Built-in quantitative and qualitative risk scoring/calculation. |
. | No information available |
|
Number of Risk Attributes Maximum customizable fields for risk attributes. |
. | No information available |
|
Scenario Analysis Capability Supports what-if and scenario analysis for risk events. |
. | No information available |
|
Risk Mapping Visual mapping of risks to processes, departments, products, etc. |
. | No information available |
|
Automated Risk Alerts System alerts for newly logged or updated risks based on defined criteria. |
. | No information available |
|
Risk Assessment Frequency Frequency with which risks can be periodically re-assessed. |
. | No information available |
|
Inherent & Residual Risk Calculation Ability to calculate and compare inherent and residual risk levels. |
. | No information available |
|
Historical Risk Database Archive of resolved, closed, or past risks for analytics. |
. | No information available |
Incident Management & Loss Event Capture
(0 Yes /0 Known /11 Possible features)
|
Incident Capture Interface Intuitive interface for employees to report risk events or incidents. |
. | No information available |
|
Incident Categorization Customizable categories and subcategories for classifying incidents. |
. | No information available |
|
Loss Data Collection Capability to record actual and potential financial losses and recoveries. |
. | No information available |
|
Root Cause Analysis Toolkit Tools to facilitate deep-dive analysis of incident causes. |
. | No information available |
|
Incident Workflow Automation Configurable workflows for investigation, review, and closure. |
. | No information available |
|
Drag-and-Drop Attachments Support for adding documents, images, or other files to incidents. |
. | No information available |
|
Incident Notification Rules Customizable automated notifications to stakeholders. |
. | No information available |
|
Time to Resolution Tracking Measured time from incident capture to closure. |
. | No information available |
|
Incident Severity Scoring Automated or manual assignment of incident severity levels. |
. | No information available |
|
Regulatory Reporting Interface Direct output or uploads for regulatory bodies (e.g., Basel loss database). |
. | No information available |
|
Data Quality Checks Automated validation rules for ensuring incident data completeness. |
. | No information available |
Control Management & Testing
(0 Yes /0 Known /10 Possible features)
|
Control Library Centralized registry of controls with descriptions and owners. |
. | No information available |
|
Control-Process Mapping Mapping controls to specific business processes or risks. |
. | No information available |
|
Control Effectiveness Assessment Built-in tools for periodic control testing and review. |
. | No information available |
|
Automated Control Testing Integration or toolset for automated control validation (e.g., data-driven checks). |
. | No information available |
|
Control Owner Assignment Designation of responsible individuals or teams for each control. |
. | No information available |
|
Test Scheduling & Reminders Automated scheduling and reminders for future control tests. |
. | No information available |
|
Number of Controls Maximum controls supported in the library. |
. | No information available |
|
Deficiency Tracking Workflow to log, manage, and resolve failed control tests. |
. | No information available |
|
Control Design Assessment Evaluation of control design versus implementation effectiveness. |
. | No information available |
|
Control Change Management Audit trail and workflow for changes to control definitions. |
. | No information available |
Action Planning & Issue Remediation
(0 Yes /0 Known /9 Possible features)
|
Action Plan Registration Creation of distinct, trackable action plans tied to risks or findings. |
. | No information available |
|
Remediation Workflow Structured process for documenting, assigning, reviewing, and completing remediation tasks. |
. | No information available |
|
Task Assignment Assignable remediation actions to users, with due dates and statuses. |
. | No information available |
|
Automated Task Tracking Automatic monitoring and status updates of task completion. |
. | No information available |
|
Overdue Action Alerts System notifications for overdue remediation actions. |
. | No information available |
|
Progress Dashboard Visual dashboard for quick status and progress overview. |
. | No information available |
|
Number of Concurrent Action Plans Maximum active remediation plans supported. |
. | No information available |
|
Integration with Email Automated email notifications and reminders tied to action items. |
. | No information available |
|
Automatic Escalation Rules Escalation to higher management based on custom criteria. |
. | No information available |
Reporting & Analytics
(0 Yes /0 Known /11 Possible features)
|
Pre-built Regulatory Reports Templates and workflows for common risk management regulatory reports (e.g., Basel II/III, SOX). |
. | No information available |
|
Custom Report Builder Drag-and-drop or code-based custom report creation. |
. | No information available |
|
Ad Hoc Query Capability Support for user-defined, on-the-fly data queries. |
. | No information available |
|
Interactive Dashboards Customizable, real-time dashboards with graphical visualizations. |
. | No information available |
|
Scheduled Report Delivery Automated generation and delivery of reports per predefined schedules. |
. | No information available |
|
Drill-down Analytics Ability to drill down from summary views to detailed records. |
. | No information available |
|
Number of Concurrent Report Users Maximum users who can simultaneously generate reports. |
. | No information available |
|
Export Formats Supported formats for exports (e.g., PDF, Excel, XML, CSV). |
. | No information available |
|
KRI/KPI Dashboards Key Risk and Key Performance Indicator dashboards. |
. | No information available |
|
Automated Risk Metric Calculation Built-in formulas and scripts for common operational risk metrics. |
. | No information available |
|
Predictive Analytics Advanced analytics for risk scoring and scenario forecasting. |
. | No information available |
Workflow & Automation
(0 Yes /0 Known /9 Possible features)
|
Custom Workflow Designer Graphical or code-based tool to create and update workflows. |
. | No information available |
|
Event-driven Automation Triggers based on events (e.g., risk submission, incident closure) for automation. |
. | No information available |
|
Integration APIs APIs for integration with HR, compliance, core banking, and third-party tools. |
. | No information available |
|
Automated Notifications Email, SMS, or in-app notifications based on user-defined criteria. |
. | No information available |
|
Escalation Rules Escalation paths and levels for unresolved issues. |
. | No information available |
|
Approval Hierarchies Multi-level, role-based approval flows for key actions. |
. | No information available |
|
Integration with Ticketing Tools Ability to send/receive tasks to systems like JIRA/ServiceNow. |
. | No information available |
|
Re-assignment Capabilities Easily reassign tasks or issues based on workload. |
. | No information available |
|
Number of Automated Workflows Maximum distinct automation workflows configured. |
. | No information available |
Regulatory Compliance Management
(0 Yes /0 Known /8 Possible features)
|
Pre-configured Compliance Templates Standard templates for common regulatory directives (e.g., Basel, SOX, GDPR, DORA). |
. | No information available |
|
Audit Trail Maintenance Immutable, timestamped logs of all compliance-related actions. |
. | No information available |
|
Compliance Calendar Scheduling and reminders for key compliance activities. |
. | No information available |
|
Document Repository Centralized compliance document storage with version control. |
. | No information available |
|
Automated Policy Distribution Distribution and acknowledgment workflows for updated policies. |
. | No information available |
|
Evidence Collection Tools Facilitates efficient attachment/upload of compliance evidence. |
. | No information available |
|
Compliance Status Dashboard Visual overview of current compliance status. |
. | No information available |
|
Remediation Tracking Track issues identified during regulatory reviews and audits. |
. | No information available |
Integration & Interoperability
(0 Yes /0 Known /8 Possible features)
|
API Access (REST/SOAP) Secure, documented APIs for data exchange. |
. | No information available |
|
Data Import/Export Tools Bulk import/export tools for connecting with legacy systems. |
. | No information available |
|
Real-time Data Sync Support for on-the-fly synchronization with core banking or data warehouses. |
. | No information available |
|
Pre-built Integrations Out-of-the-box connectors to common banking, HR, or GRC systems. |
. | No information available |
|
Custom Field Mapping Flexible mapping for custom data fields in integrations. |
. | No information available |
|
Flat File Uploads Support for uploading flat files in structured formats (e.g., CSV, XML). |
. | No information available |
|
On-premises/Cloud Data Sync Works with both cloud and on-premises systems for data exchange. |
. | No information available |
|
Integration Throughput Number of integration transactions per second supported. |
. | No information available |
Configuration & Customization
(0 Yes /0 Known /9 Possible features)
|
Configurable Data Fields Ability to add custom fields with validation rules. |
. | No information available |
|
Customizable Forms & Templates Drag and drop or code-based form/template modifications. |
. | No information available |
|
White-label Branding Ability to brand the UI with bank logos, colors, and style. |
. | No information available |
|
Localization Support Support for multiple languages, currencies, and regional settings. |
. | No information available |
|
Configurable Workflows Define bespoke workflows per risk type or business unit. |
. | No information available |
|
Custom Risk Metrics Create new risk indicators, metrics, and formulas. |
. | No information available |
|
Number of Supported Languages Maximum number of user interface languages supported. |
. | No information available |
|
Conditional Logic in Forms Enable or disable fields based on user input. |
. | No information available |
|
User-defined Dashboards Users can create personalized dashboard layouts. |
. | No information available |
Scalability, Performance & Support
(0 Yes /0 Known /10 Possible features)
|
Concurrent User Capacity Number of users who can actively use the system at once. |
. | No information available |
|
Incident Response SLA Maximum guaranteed time for support incident response. |
. | No information available |
|
Disaster Recovery (DR) Capability Automated data backup and disaster recovery procedures. |
. | No information available |
|
System Uptime Commitment Guaranteed percentage of uptime (availability) per year. |
. | No information available |
|
Mobile-responsive UI System accessibility from smartphones and tablets. |
. | No information available |
|
Dedicated Customer Support Team Direct access to support engineers familiar with operational risk and banking. |
. | No information available |
|
Release Management Structured process for regular software updates and hotfixes. |
. | No information available |
|
Training Material Availability Availability of online or in-person user training resources. |
. | No information available |
|
Performance Monitoring Tools Built-in dashboards for tracking system health, latency, and capacity. |
. | No information available |
|
Data Retention Policy Support Configurable support for long-term data retention based on bank requirements. |
. | No information available |
Operational Risk Management Software for Risk Management
Systems that identify, monitor, and mitigate risks related to internal processes, people, and systems, including incident tracking, control testing, and key risk indicator monitoring specific to pension operations.
More Operational Risk Management Software
More Risk Management ...
Risk Identification & Assessment
(9 Yes /9 Known /10 Possible features)
|
Automated Risk Identification System automatically detects new and emerging risks within pension operations. |
IBM OpenPages provides automated identification of risks, including new/emerging risks, as part of its risk assessment and monitoring functionality. | |
|
Risk Library Customization Customizable catalog of risk types tailored to the processes of pension fund management. |
OpenPages allows organizations to customize risk libraries specific to their business processes. | |
|
Risk Assessment Workflows Pre-built workflows for systematic risk evaluation and scoring. |
Includes structured and pre-built workflows for risk assessment and scoring. | |
|
Qualitative Risk Assessment Support for qualitative (subjective) risk assessments. |
Supports both qualitative risk assessments (subjective, narrative inputs). | |
|
Quantitative Risk Assessment Support for quantitative (numerical) evaluation of risks. |
Quantitative methods are supported, including metrics and numerical scoring for risks. | |
|
Inherent vs. Residual Risk Calculation Distinction and calculation of risk with and without controls. |
System can distinguish and calculate inherent vs. residual risk through its control and risk frameworks. | |
|
Heatmap Visualization Graphical heatmaps for risk assessment results. |
Risk heatmap visualization is supported and available in dashboards. | |
|
Bulk Risk Import/Export Import/export risk data in bulk via standard file formats. |
Bulk data import/export is explicitly supported for risk data and other modules. | |
|
Risk Scoring Customization Ability to define custom risk scoring and weighting rules. |
Custom risk scoring, weighting and matrix definition possible in IBM OpenPages. | |
|
Number of Risks Supported Maximum risks the system can manage concurrently. |
No information available |
Incident & Event Management
(9 Yes /9 Known /10 Possible features)
|
Incident Capture Tools for front-line staff to submit operational incidents easily. |
Front-line workers and users can capture and submit incidents through dedicated modules or forms. | |
|
Incident Categorization Customizable fields to classify incident types, sources, and impacts. |
Incident categorization is configurable via custom fields in incident management. | |
|
Automated Incident Notification Automatic notifications to relevant personnel upon incident recording. |
Automated notifications upon new incident capture are included in workflow and notification settings. | |
|
Root Cause Analysis Support Template-driven process for investigating and assigning incident causes. |
Templates and guided workflows for root cause analysis are available in incident investigation. | |
|
Corrective Action Tracking Assign, monitor, and follow up on remediation actions. |
Corrective action tracking is standard in incident and action management modules. | |
|
Near-Miss Logging Ability to log and analyze near-miss events. |
Near-miss event management is supported according to product documentation. | |
|
Loss Data Repository Centralized database for historical operational loss data. |
Centralized loss data repository is included for incident and risk loss data storage. | |
|
Incident Resolution Time Average time taken to resolve an incident. |
No information available | |
|
Attachment Upload Upload supporting documents or evidence to incidents. |
Can upload attachments and evidence files to incidents and other records. | |
|
Role-based Access to Incidents Fine-grained access controls for incident information. |
Role-based access controls configurable for incident data visibility. |
Control Management & Testing
(9 Yes /9 Known /10 Possible features)
|
Control Inventory Management Central register of all operational controls tied to processes and risks. |
There is a central register (inventory) for controls tied to risks/processes. | |
|
Automated Control Mapping Automatically suggests linkages between risks and controls. |
Automated control mapping features provided, with suggested linkages. | |
|
Control Testing Campaigns Schedule and manage periodic and ad hoc control effectiveness tests. |
Control test scheduling and execution are supported. | |
|
Control Design & Operating Effectiveness Separate documentation and evaluation of design and operating effectiveness. |
Separate tracking and documentation for design/operating effectiveness. | |
|
Sampling Methods for Testing Enables random or systematic sample selection for control testing. |
Sampling methods (random, stratified) are supported for control tests. | |
|
Test Evidence Attachment Upload evidence files for each control test conducted. |
Ability to attach evidence to control tests for audit purposes. | |
|
Automated Test Reminders Alerts and reminders for upcoming or overdue control tests. |
Automatic reminders/alerts for assigned or overdue testing tasks. | |
|
Control Weakness Management Logging and remediation workflows for failed control tests. |
Failed control or test issue log and remediation workflow supported. | |
|
Segregation of Duties Detection Identifies potential conflicts in user duties within controls. |
Segregation of duties tools included for identifying conflicts. | |
|
Number of Controls Supported Maximum controls the system can handle. |
No information available |
Key Risk Indicator (KRI) Monitoring
(8 Yes /8 Known /10 Possible features)
|
KRI Library Maintains a centralized list of KRIs linked to risks or processes. |
KRI (Key Risk Indicator) library available, with linkage to risks and processes. | |
|
Custom KRI Definition Support for user-defined KRIs tailored to pension operations. |
Custom KRI creation is supported for user-specific risk monitoring. | |
|
Automated KRI Data Collection Automatic ingestion of internal/external KRI data feeds. |
OpenPages supports automated data ingestion for KRIs via integrations. | |
|
Thresholds and Escalation Rules Configurable threshold levels and escalation triggers when exceeded. |
Thresholds and escalation rules are available and configurable in KRI monitoring. | |
|
Historical KRI Trend Analysis Visualization and analysis of trends in KRI values over time. |
Historical trend analysis of KRIs is supported via reporting/analytics. | |
|
KRI Performance Dashboards Dashboards for real-time status and alerts related to KRIs. |
KRI dashboards available with real-time alerts and status. | |
|
Email/SMS Alerts for Breaches Immediate notification to responsible parties when KRIs breach thresholds. |
Immediate notification for KRI breaches (email/SMS) supported. | |
|
Integration with External Systems Ability to collect KRI data from third-party tools (e.g., HR, ITSM systems). |
Integration with external systems for KRI data via APIs and connectors. | |
|
Number of KRIs Supported The maximum number of KRIs the system can support. |
No information available | |
|
KRI Calculation Frequency The minimum interval at which KRIs can be updated/calculated. |
No information available |
Reporting & Analytics
(9 Yes /9 Known /10 Possible features)
|
Pre-built Risk Reports Templates for standard and regulatory reporting of operational risk. |
Numerous pre-built and configurable risk/regulatory reports included. | |
|
Ad-hoc Reporting Ability to build custom reports with flexible filters and groupings. |
Supports ad-hoc reporting and custom report building. | |
|
Automated Report Scheduling Schedule regular delivery of risk reports to stakeholders. |
Users can schedule automated report delivery to defined stakeholders. | |
|
Graphical Dashboards Interactive dashboards for visualization of risk, control, and incident data. |
Interactive graphical dashboards present in all modules. | |
|
Export to PDF/Excel/CSV Exports reports in standard business formats. |
Exports to PDF/Excel/CSV supported for risk, incident, and analytics data. | |
|
Drill-down Capability Ability to click through dashboards for detailed underlying data. |
Dashboards allow drill-down to underlying data. | |
|
Real-Time Analytics Near real-time updates of dashboards and reports. |
Near real-time updates and analytics for risk and incidents. | |
|
Role-based Report Access Access controls for sensitive reports or dashboards. |
Role-based report/dashboard access supported via robust access control. | |
|
Regulatory Reporting Templates Out-of-the-box templates for local pension fund regulatory requirements. |
Regulatory reporting templates for Basel, Solvency II, etc. are included. | |
|
Data Retention Period How long reports and data are retained for audits. |
No information available |
Workflow & Task Automation
(9 Yes /9 Known /10 Possible features)
|
Custom Workflow Designer Drag-and-drop interface for custom workflows relevant to pension operations. |
OpenPages offers workflow designer with drag-and-drop customization. | |
|
Automated Task Assignment Automatically assigns and notifies responsible staff for tasks. |
Automated task assignment built into workflow engine. | |
|
Escalation Matrix Rule-based escalation of overdue or critical tasks. |
Escalation matrix (rule-based escalation) supported for workflows/tasks. | |
|
Approval Routing Flexible approval chains for risk actions and exceptions. |
Flexible routing/approval structures can be designed. | |
|
Commenting & Collaboration Internal notes, comments, and tagging for improved collaboration. |
Comments, notes, and collaboration features provided in workflows. | |
|
Calendar Integration Sync with corporate calendars for reminders and deadlines. |
Integration with Outlook and calendar systems supported. | |
|
Workflow Runtime Performance Average time to execute automated workflow steps. |
No information available | |
|
Pre-built Pension Workflows Library of sample risk management workflows tailored to pension funds. |
Pre-built pension-specific workflow templates available for rapid deployment. | |
|
Workflow Audit Trails Complete log of workflow activities and task handovers. |
Comprehensive workflow activity auditing built in. | |
|
User Notification Preferences Customizable notification methods per user or group. |
User-specific notification preferences configurable in the system. |
Access Control & Security
(9 Yes /9 Known /10 Possible features)
|
Role-Based Access Control Granular user role and permission specification. |
Granular role-based access control for users and data modules. | |
|
Single Sign-On (SSO) Supports enterprise authentication (e.g., SAML, OAuth2). |
Supports SSO (SAML, OAuth2, etc); see technical guides. | |
|
Multi-factor Authentication (MFA) Requires an additional verification step for logins. |
Multi-factor authentication support provided for user logins. | |
|
Data Encryption At Rest All stored data is encrypted. |
Data at rest is encrypted to enterprise standards (AES-256). | |
|
Data Encryption In Transit Data transmissions are encrypted end-to-end. |
Data transmissions are encrypted end-to-end (TLS 1.2+). | |
|
Audit Logging Complete and immutable logs of system and user actions. |
Comprehensive audit logs for user and system activity are available. | |
|
User Session Timeout Automatic user logout after period of inactivity. |
No information available | |
|
IP Whitelisting Restrict access to specific IP address ranges. |
IP whitelisting/restriction supported in enterprise deployments. | |
|
Data Masking Sensitive fields are masked from unauthorized users. |
Supports data masking for sensitive fields per user/role. | |
|
GDPR/Privacy Compliance Features Enables privacy rights requests, consent tracking, and data portability. |
Features for GDPR/privacy compliance present (DSAR workflows, consent tracking). |
Integration & Data Exchange
(8 Yes /8 Known /10 Possible features)
|
API Availability Open APIs for importing/exporting risk, incident, and control data. |
API availability for risk, control, incident, and KRI modules. | |
|
Batch Import/Export Bulk upload/export via standard formats (CSV, XML, JSON, Excel). |
Bulk import/export supported via templates in standard formats (CSV, Excel, XML). | |
|
Pre-built Integrations Ready-made connectors for common pension or ERP platforms. |
Ready-to-use integration connectors available for major platforms (SAP, Workday, etc.). | |
|
Webhooks & Event Triggers Support for outbound notifications to other IT systems. |
Webhooks and event trigger mechanisms are supported for outbound notifications. | |
|
Real-Time Data Sync Bi-directional updates with other systems in near real-time. |
Supports near real-time sync with external systems via APIs and connectors. | |
|
Custom Field Mapping User-defined field mapping for data transfer. |
Custom field mapping available via API and integration interfaces. | |
|
Flat File Transfer Scheduling Automated batch file exchange by schedule. |
Flat file transfer scheduling is possible for batch integration with external sources. | |
|
Number of Integration Endpoints Supported Maximum number of simultaneous third-party endpoints. |
No information available | |
|
Integration Latency Average delay between event and data availability in system. |
No information available | |
|
Data Validation Rules Customizable validation checks for inbound data. |
Allows configuration of rule-based data validation for ingested data. |
Configurability & Usability
(9 Yes /9 Known /10 Possible features)
|
Custom Field Creation Define new data fields meeting unique pension business needs. |
Supports custom data field creation across modules. | |
|
Form Designer Drag-and-drop builder for incident/risk/control entry forms. |
Drag-and-drop form designer available for custom record entry. | |
|
Localization (Language & Currency) Supports multiple languages and currencies used by pension funds. |
Supports localization, multi-language, and multi-currency operation. | |
|
Mobile Access Native or web-optimized apps for incident and risk management on-the-go. |
Mobile access supported through responsive web or native apps. | |
|
User Training Documentation Comprehensive help guides and onboarding materials included. |
Extensive user and admin training materials provided by IBM. | |
|
Accessibility Compliance Meets standards (e.g., WCAG) for disability access. |
Accessibility (e.g., WCAG compliance) supported as standard practice for IBM enterprise software. | |
|
System Navigation Speed Average time for page-to-page navigation. |
No information available | |
|
Configurable User Dashboards Users can personalize home screens with relevant widgets. |
Users can create configurable dashboards with widgets relevant to their needs. | |
|
Bulk Data Edit Edit multiple records at once via bulk actions. |
Bulk data editing and update tools available. | |
|
Search & Filter Tools Advanced search and filter options across all data modules. |
Advanced search and filtering tools across all data modules. |
Audit, Compliance & Regulatory Support
(9 Yes /9 Known /10 Possible features)
|
Full Audit Trail Automatic logging of all changes to risks, controls, incidents, and users. |
Automatic, immutable logging of all changes to key records. | |
|
Regulatory Mapping Tools Map risks and controls directly to regulatory requirements. |
Able to map risks/controls directly to regulatory requirements (Basel, etc). | |
|
Attestation Workflow Facilitates routine sign-off by control/process owners. |
Attestation workflows for routine/control sign-off included. | |
|
Audit Evidence Repository Centralized location for storing audit documentation. |
Audit evidence and document repository included. | |
|
Custom Compliance Checklists User-defined checklists for regulatory or procedural checks. |
Custom compliance checklists supported for audit and regulatory tracking. | |
|
Automated Compliance Alerts Automatic notifications of non-compliance or overdue certifications. |
Automated alerts for compliance tasks, certifications, and overdue actions. | |
|
Audit Scheduling Calendar-based planning for audits and reviews. |
Calendar-based audit scheduling tool is standard. | |
|
Findings Management Tracking, remediation, and reporting on audit findings. |
Audit finding management and remediation tracking included. | |
|
On-demand Audit Reports Generate audit-ready documentation instantly. |
On-demand generation of audit-ready reports is available. | |
|
Number of Audit Logs Retained How many audit trail entries are retained per record. |
No information available |
This data was generated by an AI system. Please check
with the supplier. More here
While you are talking to them, please let them know that they need to update their entry.