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Risk Maturity Framework

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 Measure your risk maturity level against industry standards and regulatory guidance

Financial Institutions today are challenged and overwhelmed to address risk appetite, and how to become a more risk mature organization. For risk managers to have a clear vision, and communicate effectively, a proper assessment identifying gaps and prioritizing areas of improvement is crucial in order to align the three lines of defense and develop a sound risk management roadmap.

 

Single source of truth for managing and tracking your risk management program

Creates, and promotes communication on risk maturity among the three lines of defense, the board, and with regulators

Allows for peer comparison benchmarking

 

               

 

Our partnership with SRA Watchtower

The RMA Risk Maturity Framework, powered by SRA Watchtower, was developed to enable financial institutions to identify their risk management maturity across nine pillars and align management practices to the Board's risk appetite. SRA Watchtower and RMA, with the support of the RMA Mid-Tier Council, partnered to create this framework to help institutions effectively elevate their risk management practices and track improvement.

 

How it Works:

  • Users will get access to Watchtower to complete a Risk Maturity self-assessment.
  • Answer questions structured around nine risk categories with a total of 45 different attributes.
  • View ratings and determine gaps where improvement can be achieved. 
  • Create risk improvement activities and develop a risk program roadmap. 
  • Monitor and track risk management activities. 
  • Educate the board, and promote conversations on current and future risk maturity. 
  • Inform regulators on risk maturity progress. 
  • Access peer comparatives. 

The Risk Maturity Framework and self-assessment is completed via SRA Watchtower where results can be viewed, shared and readily accessible through downloadable reporting and data visualizations.

"We're starting to really look at the outcomes of the risk maturity framework to potentially identify which activities we can add to our rolling three-year risk culture roadmap. At the end of each year, we look at what can be added in the next year. And not only just identify those, but also prioritize which ones are important." 

SVP Enterprise Risk Management, WSFS Bank

 

 

RISK MANAGEMENT HOT TOPICS WITH DEBBIE BIANUCCI, PRESIDENT & CEO, PROSIGHT FINANCIAL ASSOCIATION

May 14, 2024

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CROs Discuss Their Approaches to Evaluating Risk Program Maturity

September 08, 2023

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Ready to measure the maturity and effectiveness of your risk management program?

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