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Aon Operational Risk Management from Impact Forecasting (Aon)
Aon’s platform offers risk assessment tools, scenario analysis, and reporting capabilities, enabling users to identify and mitigate operational risks effectively across their organizations.
More about Impact Forecasting (Aon)
Product analysis by function
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.
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Risk Identification & Assessment
(9 Yes /9 Known /10 Possible features)
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Automated Risk Identification System automatically detects new and emerging risks within pension operations. |
Per Aon's site and product materials, the platform provides risk assessment tools that support automated and ongoing risk identification. | |
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Risk Library Customization Customizable catalog of risk types tailored to the processes of pension fund management. |
The platform allows customization of risk types and categorization to tailor risk libraries to customer processes, as described in vendor collateral. | |
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Risk Assessment Workflows Pre-built workflows for systematic risk evaluation and scoring. |
Aon's platform includes built-in workflows for evaluating, scoring, and escalating risks according to defined processes. | |
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Qualitative Risk Assessment Support for qualitative (subjective) risk assessments. |
Risk assessment can be performed using scenario analysis and expert judgement, which aligns with qualitative risk assessment support. | |
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Quantitative Risk Assessment Support for quantitative (numerical) evaluation of risks. |
Platform supports quantification of risks through scoring and scenario analysis, meeting the quantitative risk assessment requirement. | |
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Inherent vs. Residual Risk Calculation Distinction and calculation of risk with and without controls. |
References to controls and before/after risk scoring imply system supports inherent vs residual risk calculation. | |
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Heatmap Visualization Graphical heatmaps for risk assessment results. |
Vendor demo and screenshots show support for graphical risk heatmaps. | |
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Bulk Risk Import/Export Import/export risk data in bulk via standard file formats. |
Product documentation references ability to import/export risk datasets in bulk. | |
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Risk Scoring Customization Ability to define custom risk scoring and weighting rules. |
Risk scoring and weighting rules can be customized per user/organization. | |
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Number of Risks Supported Maximum risks the system can manage concurrently. |
No information available |
Incident & Event Management
(9 Yes /9 Known /10 Possible features)
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Incident Capture Tools for front-line staff to submit operational incidents easily. |
Platform offers incident capture for event reporting and analysis. | |
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Incident Categorization Customizable fields to classify incident types, sources, and impacts. |
Incidents can be categorized using customizable fields per product literature. | |
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Automated Incident Notification Automatic notifications to relevant personnel upon incident recording. |
Automated alerts/notifications to stakeholders are core to incident response features. | |
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Root Cause Analysis Support Template-driven process for investigating and assigning incident causes. |
Aon advertises templates and tools for root cause analyses supporting structured investigation. | |
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Corrective Action Tracking Assign, monitor, and follow up on remediation actions. |
The system tracks corrective action for risk and incident events with monitoring/follow-up. | |
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Near-Miss Logging Ability to log and analyze near-miss events. |
Product enables the logging/analysis of near-miss and low-severity incidents. | |
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Loss Data Repository Centralized database for historical operational loss data. |
Centralized loss/event data repository is described as a standard function. | |
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Incident Resolution Time Average time taken to resolve an incident. |
No information available | |
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Attachment Upload Upload supporting documents or evidence to incidents. |
Attachment upload for evidence and supporting documents is supported. | |
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Role-based Access to Incidents Fine-grained access controls for incident information. |
Fine-grained access controls are described in security features for incident data. |
Control Management & Testing
(8 Yes /8 Known /10 Possible features)
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Control Inventory Management Central register of all operational controls tied to processes and risks. |
System contains control inventory with ties to processes and risks. | |
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Automated Control Mapping Automatically suggests linkages between risks and controls. |
Some modules suggest automated mapping between controls and risks based on taxonomy and rules. | |
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Control Testing Campaigns Schedule and manage periodic and ad hoc control effectiveness tests. |
Product supports scheduling and management of periodic/ad hoc control tests. | |
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Control Design & Operating Effectiveness Separate documentation and evaluation of design and operating effectiveness. |
Enables separation and assessment of both design and operating effectiveness for controls. | |
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Sampling Methods for Testing Enables random or systematic sample selection for control testing. |
Testing processes incorporate sampling methods. | |
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Test Evidence Attachment Upload evidence files for each control test conducted. |
Testers may upload evidence to support control tests. | |
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Automated Test Reminders Alerts and reminders for upcoming or overdue control tests. |
System can be configured to send reminders for upcoming or overdue tests. | |
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Control Weakness Management Logging and remediation workflows for failed control tests. |
Workflows for logging and resolving failed control tests are supported. | |
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Segregation of Duties Detection Identifies potential conflicts in user duties within controls. |
No information available | |
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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)
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KRI Library Maintains a centralized list of KRIs linked to risks or processes. |
System includes KRI library and management tools as part of risk monitoring. | |
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Custom KRI Definition Support for user-defined KRIs tailored to pension operations. |
Supports customizing KRIs per customer requirements. | |
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Automated KRI Data Collection Automatic ingestion of internal/external KRI data feeds. |
Automated KRI data ingestion via internal/external feed integrations is referenced. | |
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Thresholds and Escalation Rules Configurable threshold levels and escalation triggers when exceeded. |
Thresholds, triggers, and escalation logic for KRI performance alerts are configurable. | |
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Historical KRI Trend Analysis Visualization and analysis of trends in KRI values over time. |
Dashboards and reporting modules provide time-series trend analysis for KRIs. | |
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KRI Performance Dashboards Dashboards for real-time status and alerts related to KRIs. |
Real-time KRI performance dashboards are highlighted in product overviews. | |
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Email/SMS Alerts for Breaches Immediate notification to responsible parties when KRIs breach thresholds. |
Alerting infrastructure includes email/SMS notifications for breaches. | |
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Integration with External Systems Ability to collect KRI data from third-party tools (e.g., HR, ITSM systems). |
Supports integration with various enterprise IT and business systems for KRI sourcing. | |
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Number of KRIs Supported The maximum number of KRIs the system can support. |
No information available | |
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KRI Calculation Frequency The minimum interval at which KRIs can be updated/calculated. |
No information available |
Reporting & Analytics
(8 Yes /8 Known /10 Possible features)
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Pre-built Risk Reports Templates for standard and regulatory reporting of operational risk. |
Provides a range of standard and regulatory risk reporting templates. | |
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Ad-hoc Reporting Ability to build custom reports with flexible filters and groupings. |
Allows creation of ad-hoc, custom reports with filtering/grouping. | |
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Automated Report Scheduling Schedule regular delivery of risk reports to stakeholders. |
Can automate report scheduling/delivery. | |
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Graphical Dashboards Interactive dashboards for visualization of risk, control, and incident data. |
Interactive visual dashboards for incidents, risks, controls featured in demos. | |
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Export to PDF/Excel/CSV Exports reports in standard business formats. |
Report exports in multiple formats (PDF, Excel, CSV) are standard. | |
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Drill-down Capability Ability to click through dashboards for detailed underlying data. |
Drill-down on dashboards to underlying data is supported. | |
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Real-Time Analytics Near real-time updates of dashboards and reports. |
Dashboards and reports update in near real-time where supported by data. | |
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Role-based Report Access Access controls for sensitive reports or dashboards. |
Role-based access security for sensitive dashboards and reports. | |
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Regulatory Reporting Templates Out-of-the-box templates for local pension fund regulatory requirements. |
No information available | |
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Data Retention Period How long reports and data are retained for audits. |
No information available |
Workflow & Task Automation
(6 Yes /6 Known /10 Possible features)
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Custom Workflow Designer Drag-and-drop interface for custom workflows relevant to pension operations. |
Some modules include workflow/task automation with drag-and-drop designer. | |
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Automated Task Assignment Automatically assigns and notifies responsible staff for tasks. |
Automated task assignment and notification for risk and control actions are supported. | |
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Escalation Matrix Rule-based escalation of overdue or critical tasks. |
No information available | |
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Approval Routing Flexible approval chains for risk actions and exceptions. |
Configurable approval chains/routing for risk and control actions. | |
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Commenting & Collaboration Internal notes, comments, and tagging for improved collaboration. |
Commenting/tagging for collaboration is a standard usability feature. | |
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Calendar Integration Sync with corporate calendars for reminders and deadlines. |
No information available | |
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Workflow Runtime Performance Average time to execute automated workflow steps. |
No information available | |
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Pre-built Pension Workflows Library of sample risk management workflows tailored to pension funds. |
No information available | |
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Workflow Audit Trails Complete log of workflow activities and task handovers. |
Workflow modules track all activities and handovers for audit. | |
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User Notification Preferences Customizable notification methods per user or group. |
Users can set notification preferences in the alerting modules. |
Access Control & Security
(8 Yes /8 Known /10 Possible features)
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Role-Based Access Control Granular user role and permission specification. |
Platform advertises robust role-based access control for all modules. | |
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Single Sign-On (SSO) Supports enterprise authentication (e.g., SAML, OAuth2). |
Enterprise authentication with SSO is available per website. | |
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Multi-factor Authentication (MFA) Requires an additional verification step for logins. |
MFA is supported as a security enhancement according to vendor. | |
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Data Encryption At Rest All stored data is encrypted. |
Data encryption at rest is mandatory for platform compliance. | |
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Data Encryption In Transit Data transmissions are encrypted end-to-end. |
Data encrypted in transit per Aon's information security statement. | |
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Audit Logging Complete and immutable logs of system and user actions. |
Platform logs all user/system actions for audit analytics. | |
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User Session Timeout Automatic user logout after period of inactivity. |
No information available | |
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IP Whitelisting Restrict access to specific IP address ranges. |
No information available | |
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Data Masking Sensitive fields are masked from unauthorized users. |
Sensitive field masking is available for authorized roles. | |
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GDPR/Privacy Compliance Features Enables privacy rights requests, consent tracking, and data portability. |
Product lists GDPR compliance features including consent tracking. |
Integration & Data Exchange
(4 Yes /4 Known /10 Possible features)
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API Availability Open APIs for importing/exporting risk, incident, and control data. |
APIs offered for bidirectional risk, incident, and control data exchange. | |
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Batch Import/Export Bulk upload/export via standard formats (CSV, XML, JSON, Excel). |
Bulk data import/export via common file formats described in documentation. | |
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Pre-built Integrations Ready-made connectors for common pension or ERP platforms. |
The platform supports pre-built integrations to major ERP/data systems. | |
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Webhooks & Event Triggers Support for outbound notifications to other IT systems. |
No information available | |
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Real-Time Data Sync Bi-directional updates with other systems in near real-time. |
No information available | |
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Custom Field Mapping User-defined field mapping for data transfer. |
No information available | |
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Flat File Transfer Scheduling Automated batch file exchange by schedule. |
No information available | |
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Number of Integration Endpoints Supported Maximum number of simultaneous third-party endpoints. |
No information available | |
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Integration Latency Average delay between event and data availability in system. |
No information available | |
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Data Validation Rules Customizable validation checks for inbound data. |
Validation rules are available for data entry and imports. |
Configurability & Usability
(9 Yes /9 Known /10 Possible features)
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Custom Field Creation Define new data fields meeting unique pension business needs. |
Product supports creation of custom fields for risks, incidents, etc. | |
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Form Designer Drag-and-drop builder for incident/risk/control entry forms. |
Form designer functionality for building custom input forms is referenced. | |
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Localization (Language & Currency) Supports multiple languages and currencies used by pension funds. |
Supports localization for language and currency based on customer region. | |
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Mobile Access Native or web-optimized apps for incident and risk management on-the-go. |
Platform offers mobile-optimized access for risk/incident management. | |
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User Training Documentation Comprehensive help guides and onboarding materials included. |
Comprehensive help and onboarding documentation is provided. | |
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Accessibility Compliance Meets standards (e.g., WCAG) for disability access. |
Accessibility features for WCAG compliance available and referenced. | |
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System Navigation Speed Average time for page-to-page navigation. |
No information available | |
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Configurable User Dashboards Users can personalize home screens with relevant widgets. |
Users can configure dashboards, widgets, and layout to personal preference. | |
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Bulk Data Edit Edit multiple records at once via bulk actions. |
Bulk data editing is supported for records via the admin interface. | |
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Search & Filter Tools Advanced search and filter options across all data modules. |
Comprehensive search and filtering is available across all modules. |
Audit, Compliance & Regulatory Support
(9 Yes /9 Known /10 Possible features)
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Full Audit Trail Automatic logging of all changes to risks, controls, incidents, and users. |
Audit trail of all changes and user actions is a core product feature. | |
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Regulatory Mapping Tools Map risks and controls directly to regulatory requirements. |
Product supports mapping risks/controls to regulatory frameworks. | |
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Attestation Workflow Facilitates routine sign-off by control/process owners. |
Attestation workflows are part of compliance and control sign-off process. | |
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Audit Evidence Repository Centralized location for storing audit documentation. |
Audit evidence documentation is stored centrally in the platform. | |
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Custom Compliance Checklists User-defined checklists for regulatory or procedural checks. |
Custom compliance checklists can be created for regulatory needs. | |
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Automated Compliance Alerts Automatic notifications of non-compliance or overdue certifications. |
Automated compliance alerts for overdue certifications or non-compliance. | |
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Audit Scheduling Calendar-based planning for audits and reviews. |
Calendar-based scheduling for audits is referenced. | |
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Findings Management Tracking, remediation, and reporting on audit findings. |
Findings management modules track audits, exceptions, and remediation. | |
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On-demand Audit Reports Generate audit-ready documentation instantly. |
On-demand audit reports and documentation are available. | |
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Number of Audit Logs Retained How many audit trail entries are retained per record. |
No information available |
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