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Third-Party Risk Management: Financial Services Risk Assessment

A comprehensive risk assessment directly aligned to financial regulatory guidance and ready to integrate into your TPM program.

Financial firms can oversee their risk management with confidence

Aravo’s Financial Services Risk Assessment (FSRA) is a cloud-based risk management software that aligns with OCC Guidance and other prevailing compliance regulations to help you better understand, manage, and mitigate risks posed by your third-party engagements.

It’s designed for banks and other financial services institutions to rapidly stand up a third-party risk management program with confidence that it is aligned with industry regulatory requirements, best practices, and expectations, derived from regulatory guidelines.

This third-party vendor risk management assessment for financial institutions can be customized to your organization’s needs and integrated into your TPRM program, providing a single system of record for all workflow processes.

Automate every step of your TPRM program.

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Embed FSRA into the Aravo for Third-Party Risk Management application

Access an out-of-the-box risk assessment mapped to regulatory guidance

Adapt and make changes with ease.

Enjoy all the benefits of the Aravo for Third-Party Risk Management application.

Leading Third-Party Risk Management Solutions from Aravo

Aravo’s Intelligence-First™ platform combines AI, broad risk intelligence, and end-to-end lifecycle management to give TPRM teams unmatched visibility, agility, and control across third-party ecosystems.

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Aravo Named a Leader in the Gartner® Magic Quadrant™ for Third-Party Risk Management Tools for Assurance Leaders

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The Forrester Wave™ Supplier Risk and Performance Management Platforms

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Chartis RiskTech Quadrant® Category Leader for GRC Digital Resilience Solutions

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Customer Insights

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Best practice for Fidelity International

“We selected Aravo Solutions for their proven track record in supporting global, enterprise clients who have complex vendor risk management programs. With Aravo, our supplier risk management program and processes will be standardized across the firm, and the technology will enable consistent governance and oversight of supplier risk and performance across the enterprise.”

– Gary Lock, Head of Supplier Risk & Relationship Management,
Fidelity International

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Best fit for our requirements

“Best fit for our requirements, transparent, and the capability to handle a greater volume of requests with ease. [The] Aravo technical team is very professional and supportive.”

– Process Lead,
Financial Services Firm

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Aravo’s technical team is very professional and supportive

“Best fit for our requirements, transparent, and the capability to handle a greater volume of requests with ease. The Aravo technical team is very professional and supportive.”

– Process Lead,
Financial Services Firm

TPM Program Benefits for Financial Services

As one of the leading financial risk management software vendors, Aravo will help you achieve better strategic results from your program and third-party relationships. You can include the Financial Services Risk Assessment or integrate your current assessments. Benefits include:

Faster time-to-value

Best-practice capabilities to support the requirements of financial risk management software and services programs are preconfigured in the application.

Deliver confidence in your program to senior management and regulators

Real-time reporting and complete auditability mean you can demonstrate compliance to the board, senior management, auditors, and examiners.

Single version of the truth

Centralize and standardize your third-party inventory and process controls with a single source of truth for all your third parties, critical third parties, and their subcontractors.

Future-proof solution

Easily extend and adapt as business conditions, policies, and regulations evolve.

Guidance,
Regulations
and Standards

Today, there is a maze of regulations, laws, and standards that companies need to consider as part of their compliance programs and to support industry best practice operations and conduct.

Regulations
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OCC Bulletin 2013-29
Sarbanes-Oxley Act
Payment Card Industry Data Security
Foreign Corrupt Practices Act of 1977
UK Bribery Act of 2010
ISO 37001:2016 Anti-bribery management systems
The California Transparency in Supply Chains Act
UK Modern Slavery Act
Clean Air Act of 1963
EU General Data Protection Regulation (GDPR)
The California Consumer Privacy Act of 2018 (CCPA)
UK Health & Safety at Work etc. Act of 1974
International Traffic in Arms Regulations (ITAR)
SYSC 13.9 Outsourcing
MAS – Guidelines On Outsourcing (issued 2016)
Guidance for Managing Third-Party Risk / FIL-22-2008
FFIEC IT Examination Handbook: Vendor and Third-Party Management
FED SR 13-19 / CA 13-21: Guidance on Managing Outsourcing Risk
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