Risk Assessment Software Banks | FICO TONBELLER

Risk Assessment Banks

Due to national and international regulations (e.g. the third and fourth EU directive), banks and financial institutions are obliged to create and continue risk analyses. Identifications and evaluation of the bank's risks is the first step and the basis of success for each of the derived measures to prevent potential damage.

To implement the statutory requirements, it is useful to employ software to create the risk analysis in combination with existing research systems (e.g. for anti-money laundering and anti-fraud). This enables you to enrich the risk analysis with key figures, check the effectiveness of prevention measures, and continually refine risk evaluation and resulting measures.

You can use the FICO TONBELLER solution to identify, assess, document, and continuously monitor risks. Integrated workflows facilitate the comprehensive risk analysis, the integration of specialized departments in risk assessment, and keeping audit-proof records for risk minimization. The successful implementation of risk management and compliance programs requires the integration of systems for monitoring and quality assurance. Cockpits grant a status overview of the most important risk measures to the management and specialized departments and make the risk situation transparent.

Our solution offers:

  • A full solution ranging from risk assessment to the management cockpit
  • Easy integration with the banking system
  • Integration with research systems (e.g. Siron®AML)
  • Best practices from existing customer installations

Siron®RAS Risk Assessment

Assess and Manage Risks

Siron®RAS helps banks create and continually develop their risk analyses. Identification, categorization, and the assessment of risks are the foundation of all subsequent activities within the bank to initiate and design comprehensive programs against money laundering, terrorism financing and other criminal acts. Targeted organizational steps may be derived and IT prevention measures implemented. This does not only support individual risk management. Focusing on essential risks may also result in savings through efficient resource allocation and more potent check procedures. Integrated workflows for cross-departmental risk assessment, audit-proof documentation, and customer assessment options complete the picture.

Key functions:

  • System-based specification of the organizational and business structure
  • Workflow for identification, categorization and weighting of the institution's risks (e.g. customer, product, transactions, country risks)
  • Large database with predefined risks
  • Measures for risk prevention and minimization, including functionality for time and task management
  • Interface to research systems (e.g. Siron®KYC, Siron®AML, Siron®Embargo) to check the efficiency of monitoring measures and for continual enrichment of the risk analysis through up-to-date key-figures

Siron®RCC Risk & Compliance Cockpit

Visualization, Management and Control of Risk Measures

The growing complexity of basic statutory conditions is a continual challenge for banks in their effort to combating risks efficiently. The active management of risks for all connected national and international departments and subsidiaries requires an up-to-date central overview of the most important variables. Through cockpits designed according to the latest findings of perception psychology, Siron®RCC grants banks a holistic view on their risk analysis including the preventive measures and their status. Based on consolidated data from integrated risk-assessment and research systems (e.g. Siron®RAS, Siron®KYC, Siron®AML, Siron®Embargo), measures are calculated and presented using sophisticated visualization techniques.

Key functions:

  • Fast, daily management overview in accordance with the GRC approach
  • Early detection of shortcomings of and risks in the internal control system
  • Analyses and comparison of trends and risk development
  • Drill-down (e.g. per country, subsidiary, customer category, risk factor)
  • Configurable charts
  • Key performance indicators (KPI) that can be adjusted to the bank's risk situation