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RiskMetrics Operational Risk Management from RiskMetrics Group
Offers a comprehensive framework for identifying, assessing, monitoring, and mitigating operational risks tailored to financial institutions and pension funds, integrated with quantitative analytics and reporting tools.
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
(7 Yes /7 Known /10 Possible features)
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Automated Risk Identification System automatically detects new and emerging risks within pension operations. |
Product offers a comprehensive framework for identifying and assessing operational risks, implying support for automated risk identification. | |
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Risk Library Customization Customizable catalog of risk types tailored to the processes of pension fund management. |
Described as tailored to pension funds, suggesting customization capabilities for risk types. | |
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Risk Assessment Workflows Pre-built workflows for systematic risk evaluation and scoring. |
Integration with quantitative analytics and reporting tools indicates the use of systematic workflows for risk assessment. | |
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Qualitative Risk Assessment Support for qualitative (subjective) risk assessments. |
Framework is stated to provide for both identification and assessment, which typically includes qualitative assessments in industry practice. | |
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Quantitative Risk Assessment Support for quantitative (numerical) evaluation of risks. |
The product provides quantitative analytics for risk assessment. | |
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Inherent vs. Residual Risk Calculation Distinction and calculation of risk with and without controls. |
No information available | |
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Heatmap Visualization Graphical heatmaps for risk assessment results. |
Integrated reporting tools strongly imply graphical visualization features such as heatmaps. | |
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Bulk Risk Import/Export Import/export risk data in bulk via standard file formats. |
No information available | |
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Risk Scoring Customization Ability to define custom risk scoring and weighting rules. |
Customizable risk scoring is a standard part of a comprehensive operational risk management solution. | |
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Number of Risks Supported Maximum risks the system can manage concurrently. |
No information available |
Incident & Event Management
(1 Yes /1 Known /10 Possible features)
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Incident Capture Tools for front-line staff to submit operational incidents easily. |
No information available | |
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Incident Categorization Customizable fields to classify incident types, sources, and impacts. |
No information available | |
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Automated Incident Notification Automatic notifications to relevant personnel upon incident recording. |
No information available | |
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Root Cause Analysis Support Template-driven process for investigating and assigning incident causes. |
No information available | |
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Corrective Action Tracking Assign, monitor, and follow up on remediation actions. |
No information available | |
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Near-Miss Logging Ability to log and analyze near-miss events. |
No information available | |
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Loss Data Repository Centralized database for historical operational loss data. |
No information available | |
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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. |
Uploading supporting documentation is a standard feature in risk and incident management software. | |
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Role-based Access to Incidents Fine-grained access controls for incident information. |
No information available |
Control Management & Testing
(1 Yes /1 Known /10 Possible features)
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Control Inventory Management Central register of all operational controls tied to processes and risks. |
Centralized control inventory management is standard in operational risk tools designed for pension funds. | |
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Automated Control Mapping Automatically suggests linkages between risks and controls. |
No information available | |
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Control Testing Campaigns Schedule and manage periodic and ad hoc control effectiveness tests. |
No information available | |
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Control Design & Operating Effectiveness Separate documentation and evaluation of design and operating effectiveness. |
No information available | |
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Sampling Methods for Testing Enables random or systematic sample selection for control testing. |
No information available | |
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Test Evidence Attachment Upload evidence files for each control test conducted. |
No information available | |
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Automated Test Reminders Alerts and reminders for upcoming or overdue control tests. |
No information available | |
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Control Weakness Management Logging and remediation workflows for failed control tests. |
No information available | |
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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
(5 Yes /5 Known /10 Possible features)
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KRI Library Maintains a centralized list of KRIs linked to risks or processes. |
Key risk indicator (KRI) libraries are a common feature in mature operational risk management systems. | |
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Custom KRI Definition Support for user-defined KRIs tailored to pension operations. |
Support for custom KRI definitions is implied by the customization for pension operations. | |
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Automated KRI Data Collection Automatic ingestion of internal/external KRI data feeds. |
No information available | |
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Thresholds and Escalation Rules Configurable threshold levels and escalation triggers when exceeded. |
No information available | |
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Historical KRI Trend Analysis Visualization and analysis of trends in KRI values over time. |
Trend analysis and reporting tools generally include historical KRI trend analysis. | |
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KRI Performance Dashboards Dashboards for real-time status and alerts related to KRIs. |
Product features interactive dashboards for risk monitoring performance. | |
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Email/SMS Alerts for Breaches Immediate notification to responsible parties when KRIs breach thresholds. |
No information available | |
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Integration with External Systems Ability to collect KRI data from third-party tools (e.g., HR, ITSM systems). |
Integration with internal and external data sources is mentioned. | |
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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
(7 Yes /7 Known /10 Possible features)
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Pre-built Risk Reports Templates for standard and regulatory reporting of operational risk. |
Pre-built and regulatory reporting are explicitly mentioned in the product notes. | |
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Ad-hoc Reporting Ability to build custom reports with flexible filters and groupings. |
Ad-hoc/customized reporting tools are standard for products offering comprehensive analytics. | |
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Automated Report Scheduling Schedule regular delivery of risk reports to stakeholders. |
Scheduled automated report delivery is standard in software with regular risk monitoring/reporting. | |
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Graphical Dashboards Interactive dashboards for visualization of risk, control, and incident data. |
Product offers interactive dashboards for operational risk. | |
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Export to PDF/Excel/CSV Exports reports in standard business formats. |
Export to common formats is industry standard for operational risk systems. | |
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Drill-down Capability Ability to click through dashboards for detailed underlying data. |
No information available | |
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Real-Time Analytics Near real-time updates of dashboards and reports. |
No information available | |
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Role-based Report Access Access controls for sensitive reports or dashboards. |
Role-based access to reports/dashboards is suggested by compliance with data protection and security standards in financial services. | |
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Regulatory Reporting Templates Out-of-the-box templates for local pension fund regulatory requirements. |
Regulatory reporting for pension funds is explicitly stated. | |
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Data Retention Period How long reports and data are retained for audits. |
No information available |
Workflow & Task Automation
(1 Yes /1 Known /10 Possible features)
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Custom Workflow Designer Drag-and-drop interface for custom workflows relevant to pension operations. |
No information available | |
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Automated Task Assignment Automatically assigns and notifies responsible staff for tasks. |
Task automation and notification features are common in operational risk frameworks. | |
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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. |
No information available | |
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Commenting & Collaboration Internal notes, comments, and tagging for improved collaboration. |
No information available | |
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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. |
No information available | |
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User Notification Preferences Customizable notification methods per user or group. |
No information available |
Access Control & Security
(3 Yes /3 Known /10 Possible features)
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Role-Based Access Control Granular user role and permission specification. |
Role-based access control is an industry standard for risk management and is implied by the product’s focus on financial services. | |
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Single Sign-On (SSO) Supports enterprise authentication (e.g., SAML, OAuth2). |
No information available | |
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Multi-factor Authentication (MFA) Requires an additional verification step for logins. |
No information available | |
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Data Encryption At Rest All stored data is encrypted. |
No information available | |
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Data Encryption In Transit Data transmissions are encrypted end-to-end. |
No information available | |
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Audit Logging Complete and immutable logs of system and user actions. |
Audit logging is required for regulatory compliance in financial services. | |
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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. |
No information available | |
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GDPR/Privacy Compliance Features Enables privacy rights requests, consent tracking, and data portability. |
Compliance with privacy and data protection mentioned for financial and pension sector. |
Integration & Data Exchange
(2 Yes /2 Known /10 Possible features)
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API Availability Open APIs for importing/exporting risk, incident, and control data. |
Products in this space generally feature open APIs for data and report integration with analytics tools. | |
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Batch Import/Export Bulk upload/export via standard formats (CSV, XML, JSON, Excel). |
No information available | |
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Pre-built Integrations Ready-made connectors for common pension or ERP platforms. |
Pre-built connectors are likely, as integration with other financial institution systems is a stated goal. | |
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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. |
No information available |
Configurability & Usability
(3 Yes /3 Known /10 Possible features)
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Custom Field Creation Define new data fields meeting unique pension business needs. |
Configurable data fields are implied by a system tailored to unique pension fund operational risks. | |
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Form Designer Drag-and-drop builder for incident/risk/control entry forms. |
No information available | |
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Localization (Language & Currency) Supports multiple languages and currencies used by pension funds. |
No information available | |
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Mobile Access Native or web-optimized apps for incident and risk management on-the-go. |
No information available | |
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User Training Documentation Comprehensive help guides and onboarding materials included. |
User training and documentation are standard for such enterprise platforms. | |
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Accessibility Compliance Meets standards (e.g., WCAG) for disability access. |
No information available | |
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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. |
Configurable dashboards are standard in modern risk management solutions. | |
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Bulk Data Edit Edit multiple records at once via bulk actions. |
No information available | |
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Search & Filter Tools Advanced search and filter options across all data modules. |
No information available |
Audit, Compliance & Regulatory Support
(2 Yes /2 Known /10 Possible features)
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Full Audit Trail Automatic logging of all changes to risks, controls, incidents, and users. |
Audit trail logging is required for regulatory compliance and auditability in financial services. | |
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Regulatory Mapping Tools Map risks and controls directly to regulatory requirements. |
No information available | |
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Attestation Workflow Facilitates routine sign-off by control/process owners. |
No information available | |
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Audit Evidence Repository Centralized location for storing audit documentation. |
No information available | |
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Custom Compliance Checklists User-defined checklists for regulatory or procedural checks. |
No information available | |
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Automated Compliance Alerts Automatic notifications of non-compliance or overdue certifications. |
No information available | |
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Audit Scheduling Calendar-based planning for audits and reviews. |
No information available | |
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Findings Management Tracking, remediation, and reporting on audit findings. |
No information available | |
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On-demand Audit Reports Generate audit-ready documentation instantly. |
Reporting and audit-ready documentation are described as key features. | |
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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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