Financial Services Risk Assessment

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    A third-party management solution to match your program maturity
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    Hold your suppliers to a standard of integrity that reflects your organization’s ESG policies including German Supply Chain Due Diligence Act (LkSG)
  - Financial Services Risk Assessment
    Conduct a comprehensive Financial Services Risk Assessment directly aligned to OCC guidance
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    Protect digital assets by assessing risks from vendors that access your data and/or networks
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    Ensure vendors are compliant with data privacy regulations and standards, including the CCPA, GDPR and more
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- What’s New — Aravo for ESG Learn how to build sustainable and ethical supply chains across your extended enterprise
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  Supporting successful programs across virtually every sector, we understand your business
  - Financial Services Industry
    A third-party management platform that understands regulatory and compliance requirements
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    Third-Party Risk Management and Compliance for the Insurance Industry
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    Third-Party Risk Management and Compliance Solutions for the Pharmaceutical and Life Sciences Industry
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    Third-Party Risk Management Solutions for the CPG Industry
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    Third-Party Risk Management and Compliance Requirements for Manufacturing Companies
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  Learn more about Aravo and how we can help organizations like yours
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    The Aravo Academy will help get you up and running with Aravo’s technology.
  - Strategic Alignment Framework™
    An adaptive framework aligning your TPRM goals, plan, and delivery program for your organization.
  - Blog
    Aravo’s blog for expert third-party risk and compliance content
  - TPRM Solution Voyage
    Explore how to choose the right TPRM software for your business
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    How mature is your third-party risk management program? Calculate your score
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  - Glossary
    The ABCs of TPRM. Here you will find business terms risk professionals use on a daily basis
  - Guidance and Regulations
    An overview of the vast range of regulations and guidance that encompass TPRM
- Featured Resource
  
  Get your need-to-know guide on the future of supply chain regulations
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Financial firms can oversee their risk management with confidence

Aravo’s Financial Services Risk Assessment (FSRA) is a cloud-based application that is mapped to OCC Guidance and aligned with 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 to industry regulatory requirements, best practices, and expectations, derived and developed from regulatory guidelines.

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

Request Details

Aravo For:

Third-Party Risk Management

ABAC Compliance

Data Privacy Compliance Software

GDPR Compliance Software

Financial Services

Performance Management

Information Security

German Supply Chain Due Diligence Act (LkSG)

Environmental, Social & Governance (ESG)

Supply Chain Resilience

Customer Defined Assessments

Risk Intelligence Connectors

TPRM Integration Framework

Customer Insights

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

Read the press release

Best fit for our requirements

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

– Process Lead,
Financial Services Firm

Aravo’s technical team is very professional and supportive

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

– Process Lead,
Financial Services Firm

TPM Program Benefits for Financial Services

With Aravo, you get better strategic results from your program and your 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 services programs are pre-configured 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.

Capabilities To
Support Third-Party Management

Capabilities - Risk Management Lifecycle

Intake and Scoping

Apply a standardized and defensible process for collecting, centralizing, and validating your third-party vendor information.

Due Diligence

Ensure an objective, risk-based approach to third-party due diligence.

Onboarding

Deliver a consistent, automated process complete with a fully accessible audit trail. All your vendor information and documentation is in one place.

Contracts Management

Create a centralized repository of all vendor contract information and automate contract monitoring, review, and management processes.

Continuous Monitoring

Continuously monitor vendor risk and performance and trigger review, escalation, issue management, and remediation activity.

Performance Management

Monitor third-party vendor performance, strengthen preferred supplier relationships, drive innovation, and eliminate poor performers.

Issue Management and Remediation

Enable a systemic and consistent approach to issue management and identify, track, and manage third-party vendor issues from initiation through to resolution.

Termination and Offboarding

Ensure that the separation process is handled appropriately, including return of property and system access, assurance of data destruction, and notification to finance to cease payments.

Optimize your Program and Reach Third-Party Management Agility

Program Maturity Calculator

Programs evolve, business conditions change, new risks emerge, and regulations change. Regardless of where you are in your third-party risk program maturity journey, our solutions and deep domain expertise will help you accelerate, optimize, and become more agile. No matter how fast the world changes around you, you will be able to deliver better business outcomes faster and be able to adapt as your programs evolve.

AD HOC

There is no refined third-party risk management methodology or roles.

FRAGMENTED

Third-party risk management processes are manual and they lack standardization, making it hard to measure effectiveness.

DEFINED

Individual departments have standardized, technology-enabled processes, but they operate in silos.

INTEGRATED

The organization has adopted departmental methodologies, templates, and processes, and third-party governance silos are being broken down.

AGILE

Third-party risk management is federated for the entire organization with integrated information and technology environments (including other business systems), automation and reporting, and accountability monitoring.

Financial Services Risk Assessment

Financial firms can oversee their risk management with confidence

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

Automate every step of your TPRM program.

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

Market-Leading
Software from Aravo

A LEADER

Aravo Named a Leader in the 2021 Gartner® Magic Quadrant™ for IT Vendor Risk Management Tools

A LEADER

The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020

A LEADER

Chartis RiskTech Quadrant® for 3PRM Systems 2021