Features in Enterprise Risk Management Platforms
for Risk & Compliance
Comprehensive systems that identify, assess, and manage various types of enterprise risks, including operational, reputational, strategic, and financial risks across the organization.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Audit & Monitoring
Features for monitoring ongoing risk and compliance activities and for maintaining comprehensive audit records.
- Audit report generation
- Automatically compiles and formats audit-ready reports.
- Automated controls testing
- Regularly tests control effectiveness and documents results.
- Automated exception logging
- Automatically records exceptions and unusual events.
- Change management tracking
- Monitors changes to data, rules, and configurations.
- Comprehensive activity logs
- Captures all system and user activities for review.
- Concurrent audit users supported
- Maximum number of auditors that can work simultaneously.
- Exception alerting
- Notifies users of irregular events or failed checks.
- Forensics and drill-back tools
- Allows detailed reconstruction and investigation of events.
- Periodic review scheduler
- Automates scheduling and reminders for audits and reviews.
- Retention period for logs
- Duration for which audit logs are retained in the system.
Data Integration & Connectivity
Features that allow seamless collection, ingestion, and synchronization of data from internal and external sources to support risk analysis.
- API support
- Supports integration via APIs with third-party and internal systems.
- Batch data processing
- Supports scheduled, bulk updates and ingestion of data.
- Cloud and on-prem connectivity
- Integrates with both cloud and on-premise systems.
- Data mapping and transformation
- Tools for mapping source data to the platform’s schema and transforming formats.
- Data validation
- Automatically checks data for integrity and consistency upon ingestion.
- ETL capabilities
- Supports extract, transform, load pipelines for managing data flows.
- Multi-source data ingestion
- Ability to import data from multiple structured and unstructured sources.
- Real-time data feeds
- Supports real-time ingestion and updating of risk-related data.
- Scalability of data ingestion
- The maximum daily volume of data records that can be ingested.
- Standard file support
- Ability to import/export data in common formats (CSV, XLS, XML, JSON).
Performance & Scalability
The platform’s ability to handle large volumes, many users, and high throughput with minimal degradation in service.
- Average page load time
- Typical time for loading key dashboards or modules.
- Cloud-native architecture
- Designed for scalable cloud or hybrid deployments.
- Concurrent users supported
- Maximum simultaneous users during peak usage.
- Data throughput capacity
- Maximum volume of data processed per second.
- Disaster recovery options
- Provides built-in DR and data backup capabilities.
- High-availability configuration
- Supports failover and redundancy for resilience.
- Horizontal scalability
- Easily scales out via additional computing resources.
- Load balancing
- Distributes system load across multiple servers or nodes.
- Processing capacity per fund
- Number of funds/entities supported without degradation.
- Uptime SLA
- Guaranteed platform availability over time.
Regulatory Compliance Management
Automation and support for regulatory data, document tracking, and compliance reporting.
- Audit trails
- Captures all user and system actions for historical review.
- Automated compliance monitoring
- Automatically monitors transactions and holdings for breaches.
- Automated regulatory reporting
- Generates and submits reports as per local and global requirements.
- Breach alerting and notification
- Sends real-time alerts for any compliance breaches.
- Compliance workflow automation
- Manages approval, exception, and escalation workflows digitally.
- Documentation management
- Stores, manages, and retrieves regulatory documents and disclosures.
- Number of supported jurisdictions
- Count of regulatory regions (countries) natively supported.
- Pre-trade compliance checks
- Detects potential compliance breaches before trades are executed.
- Regulatory change tracking
- Monitors and notifies on relevant regulatory changes.
- Regulatory rules library
- Comprehensive library of rules for key jurisdictions (e.g., SEC, ESMA, FCA).
Reporting & Visualization
Capabilities for producing, sharing, and customizing risk and compliance reports and dashboards.
- Ad-hoc reporting
- Users can create custom reports without coding.
- Automated distribution
- System can automatically distribute reports to stakeholders.
- Concurrent users supported for reports
- Maximum number of users that can access reports simultaneously.
- Customizable dashboards
- Dashboards can be customized per user or role, with drag-and-drop widgets.
- Data visualization tools
- Offers graphs, heatmaps, and advanced visualization features.
- Drill-down capabilities
- Users can drill down into data for detailed analysis.
- Export to multiple formats
- Ability to export reports (PDF, Excel, HTML, CSV).
- Interactive visualization speed
- Average response time for rendering custom dashboard views.
- Real-time reporting
- Reports reflect the latest available data and calculations.
- Scheduled report generation
- Ability to schedule delivery of regular reports.
Risk Analytics & Modeling
Capabilities for quantifying, analyzing, and forecasting various types of risks.
- Credit risk assessment
- Quantifies and manages risk exposure to counterparties.
- Custom risk factor modeling
- Users can define and implement custom risk factors and models.
- Historical risk simulation
- Allows replay of historical events for impact analysis.
- Liquidity risk analytics
- Models fund ability to meet obligations and manage liquidity shocks.
- Market risk calculation
- Ability to model and calculate exposure to market risks (e.g., VaR, stress tests).
- Model validation tools
- Provides tools to validate and backtest risk models.
- Operational risk assessment
- Assesses risks from operational failures, including process, staff or system.
- Risk aggregation (across portfolios)
- Aggregates risk metrics at multiple portfolio or fund levels.
- Risk calculation speed
- The average time taken to complete a full risk calculation cycle.
- Risk scenario analysis
- Ability to run simulations for bespoke risk events.
Security & Access Control
Mechanisms to protect data integrity, secure sensitive information, and control user access.
- Comprehensive audit logging
- Maintains detailed logs for all data access and changes.
- Data encryption (in transit and at rest)
- Encrypts sensitive data during transfer and storage.
- Data masking and anonymization
- Masks sensitive data fields for select users or roles.
- Granular permission settings
- Fine-tuned data and function-level access configuration.
- Incident & breach detection
- Monitors and alerts on potential security incidents.
- Maximum concurrent user sessions
- Maximum user sessions that are allowed simultaneously.
- Multi-factor authentication
- Enforces additional security checks for user logins.
- Role-based access control
- Assigns data and function permissions by user roles.
- Single Sign-On (SSO)
- Integrates with corporate identity providers for access.
- User provisioning and de-provisioning
- Automates the onboarding and offboarding of users.
User Experience & Usability
Attributes that enhance ease of use, learning curve, and user satisfaction.
- Accessibility features
- Compliant with accessibility standards (e.g., WCAG).
- Average number of clicks to complete workflow
- Measures usability and process optimization.
- Contextual help
- Built-in help, tooltips, and guided tours.
- Custom notifications
- Users can configure notification settings.
- Internationalization/localization
- Supports multiple languages and regional formats.
- Intuitive user interface
- Interface is easy to navigate and learn.
- Keyboard and voice navigation
- Supports keyboard shortcuts and/or voice commands.
- Mobile access
- Accessible on smartphones and tablets.
- Personalized homepages
- Users can set and modify their landing screens.
- Time to proficiency
- Average time required for new users to become proficient.
Vendor Support & Platform Maintenance
Characteristics related to support, service, and the platform’s ongoing operational health.
- 24/7 technical support
- Vendor offers around-the-clock support services.
- Automatic software updates
- Platform receives regular, automatic patching and feature updates.
- Average issue resolution time
- Mean time to resolve client-reported production issues.
- Comprehensive documentation
- Up-to-date guides for administration, user, and integration support.
- Dedicated account manager
- Customers are assigned a specific contact from the vendor.
- Frequency of major platform updates
- How often major feature or version updates are released.
- Onboarding/training services
- Vendor offers user onboarding and ongoing training options.
- Proactive system monitoring
- Vendor monitors health and performance of client deployments.
- Service Level Agreement (SLA) metrics
- Key metrics defined in the support contract.
- User community and forums
- Access to community knowledge and peer support.
Workflow & Task Automation
Tools for automating repetitive and complex processes within risk and compliance management.
- Approval tracking
- Tracks approvals, signatures, and acknowledgments digitally.
- Automated task assignment
- Routes tasks to responsible users based on defined criteria.
- Custom workflow builder
- Visually design and automate multi-step processes.
- Exception management
- Tracks and manages process exceptions and their resolutions.
- Integration with communication tools
- Integrates with email, chat, or ticketing for notifications.
- Notification and escalation rules
- Automated alerts and escalation when timelines are missed.
- Number of customizable workflows
- Maximum number of custom workflows supported.
- Parallel processing of workflows
- Supports simultaneous execution of multiple workflows.
- SLA tracking
- Measures and reports service-level agreement adherence.
- Workflow execution speed
- Average time to execute a typical workflow.