What features should a financial institution look for in ERM software?

Look for software that matches how your institution manages risk. Key features include: A central risk register with standardized assessments of inherent risk, controls and residual risk Control and issue tracking with owners, due dates and status Dashboards and board-ready reporting that summarize risk by category, business line or trend Workflows and audit trails that record who did what and when Connections to related programs, such as vendor management, compliance and internal audit Role-based access and an easy interface, so business lines will use it

Nrisk

Enterprise Risk Management Software for Financial Institutions

Nrisk is Ncontracts’ cloud-based enterprise risk management (ERM) software for banks, credit unions, and other financial institutions. It centralizes risk assessments, controls, key risk indicators (KRIs), and reporting on one dashboard, with real-time alerts and a 360-degree view of risk. Use it to build a risk program from 50+ pre-built assessments, or to make an existing program more efficient, with the flexibility to customize it to your institution.

Nrisk ERM Software Features

Your institution’s operational environment is defined by risk. Failing to manage risk – and monitor controls – is an existential threat. Excessive risk avoidance means missed opportunities. Our ERM software is a powerful tool that enables your institution to leverage risk to your strategic advantage.  Nrisk gives your institution one place to assess risk, monitor controls, and report to your board and examiners. ERM treats risk as something to manage alongside strategy and performance, not department by department, and the COSO ERM framework organizes that approach into five components and 20 principles.

Leading Risk Assessment Methodology

Harness the power of industry best practices with Ncontracts’ proven risk assessment methodology. Use as-is or customize it to your institution’s needs. Nrisk delivers pinpoint quantitative results that drive efficiency, seamlessly integrating with your institution’s ERM architecture.

Nrisk ERM software risk assessment preview

Unparalleled Model Content 

Never stare at a blank page wondering where to begin. Ncontracts’ enterprise risk management software contains more than 50 pre-built, configurable model risk assessments and hundreds of risk controls created by our certified compliance and risk experts. Examples include BSA/AML/OFAC, Asset Liability Management, and Information Security/GLBA, plus many others.

Nrisk risk assessment templates including BSA/AML/OFAC, Asset Liability Management, and Information Security/GLBA and more

Expert Service and Support 

Enterprise risk management software from Ncontracts lets your institution weigh risks and address them with confidence. Our team is always here to support you – from full implementation to tailoring Nrisk’s dashboard to your institution’s unique needs.   

Perform advanced risk modeling to predict the likelihood of an adverse event

Generate comprehensive risk reports in a few keystrokes 

Integrate Nrisk seamlessly with other products in the Ncontracts’ suite 

Benefit from hands-on training by experts in the field 

De-stress exam prep with read-only access for examiners

Maintain a single source of truth for unlimited users

Managed APIs to incorporate data from outside sources

Enterprise Risk Management Software Built by Experts

Discover the difference with Ncontracts — try the enterprise risk software solution offering real-time insights into risk management programs with advanced heat maps, robust analytics, easy-to-use reports, dashboards, and charts. Built for banks, credit unions, and other financial institutions, our enterprise risk management solutions give risk, compliance, and executive teams a shared view of risk.

Unify Risk Data 

Ensure everyone at your institution speaks the same risk language and relies on the same models and data for an apples-to-apples approach to quantifying risk.

Assess Risk Continuously 

Nrisk gives your team a comprehensive risk and control library, intuitive reporting, and dashboards with the metrics that matter. Your team can spot, assess, monitor, and evaluate risks collaboratively, using real-time risk and control data. Know when to add more controls, or when to take more risk.

Reduce Regulatory Risk 

With customizable risk ratings and reporting, our enterprise risk management software provides full visibility into compliance controls, giving you confidence at exam time. 

Automate Risk Processes 

Automating risk management saves time and money, helping your team work more efficiently while more effectively allocating resources to address your most urgent risks with our streamlined ERM system.  

Work with Experts Focused on Financial Institutions  

Benefit from Knowledge as a Service (KaaS) with a system developed for financial institutions by risk and compliance experts with real-world banking experience. No need to waste time with requirements aimed at other industries. 

Understand Risk Holistically 

Gain full insight into every risk category. Nrisk integrates seamlessly with other products in the Ncontracts’ suite, serving up a unified and coherent ERM tools. 

Spreadsheets/Access

Nrisk

Starting content

Blank page

50+ pre-built, configurable model risk assessments and hundreds of controls

Risk monitoring

Manual updates

KRI/KPI tracking, heat maps, and real-time alerts on one dashboard

Reporting

Assembled by hand

Comprehensive risk reports in a few keystrokes

Exam preparation

Materials compiled for examiners

Read-only examiner access

Users and data

Multiple files and versions

Single source of truth for unlimited users

Integration

Standalone

Integrates with other Ncontracts products; managed APIs for outside data

"We already had strong risk management in place. We didn’t need a system to teach us that. We needed a system that could work with our existing approach. For us, it was all about automation and customization."

James Jefferson

Chief Risk Officer, Montecito Bank & Trust

“Being able to create all the reporting with the same data across the different modules within the Ncontracts suite makes the whole experience so much easier for me to administer and present to the board and executive leadership team.”

VP of Enterprise Risk Management

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The Enterprise Risk Management Buyer’s Guide

Risks evolve quickly. Disruptive technologies, increased regulatory scrutiny, economic and workforce challenges, and the growing number of products and services make risk management a moving target.  

 Discover how centralizing and systematizing your risk management processes protects your institution from emerging threats. 

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Positioned for Growth: The Enterprise Risk Management Buyer’s Guide Ebook

Enterprise risk management (ERM) is an organization-wide approach to identifying, assessing, and managing risk in a coordinated way instead of department by department. It ties risk to the institution’s strategy and objectives, and the widely used COSO framework organizes it into five components and 20 principles. For a financial institution, it gives the board and management one view of risk across the enterprise.

ERM software gives a financial institution one place to identify, assess, monitor and report on risk across the organization. It replaces scattered spreadsheets with a central risk register, standardized risk assessments, and linked controls, issues and action plans. Management and the board get consistent, current reporting on risk levels and trends, so decisions rest on live data instead of reports compiled by hand.

Look for software that matches how your institution manages risk. Key features include:

A central risk register with standardized assessments of inherent risk, controls and residual risk
Control and issue tracking with owners, due dates and status
Dashboards and board-ready reporting that summarize risk by category, business line or trend
Workflows and audit trails that record who did what and when
Connections to related programs, such as vendor management, compliance and internal audit
Role-based access and an easy interface, so business lines will use it

ERM software helps with exam readiness by keeping risk assessments, control testing, open issues and board reporting documented in one place, so you aren’t assembling evidence when examiners arrive. Audit trails show who reviewed what and when, and every open issue has an owner and a due date. That lets you answer examiner requests quickly and show a consistent, documented risk management process.

Nrisk includes more than 50 pre-built, configurable model risk assessments and hundreds of risk controls created by Ncontracts’ certified compliance and risk experts. Examples include BSA/AML/OFAC, Asset Liability Management, and Information Security/GLBA. Institutions can use the content as-is or customize it to match heir own risk methodology.

Spreadsheets and Access databases depend on manual updates and can fragment risk data across files. Nrisk provides a single source of truth for unlimited users, pre-built assessments and controls, real-time KRI and KPI dashboards, and integrated reporting. Montecito Bank & Trust moved from an Access/Excel system to Nrisk, kept its custom risks and controls, and doubled in size without adding headcount.

Why Nrisk Outperforms Traditional Risk Assessment Tools

Get a clear, side-by-side look at where traditional models fall short — and how Nrisk closes the gap.

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Montecito Bank & Trust Case Study

This bank finds a risk management solution that bends to their needs in Nrisk. See what the Chief Risk Officer says about the Nrisk experience.

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Risk Management Resources

Ncontracts compliance and enterprise risk management resources like whitepapers, ebooks, webinars and more.

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Enterprise Risk Management Software for Financial Institutions

Nrisk ERM Software Features

Leading Risk Assessment Methodology

Instant Risk Analysis Tools

Unparalleled Model Content

Expert Service and Support

Enterprise Risk Management Software Built by Experts

Unify Risk Data

Assess Risk Continuously

Reduce Regulatory Risk

Automate Risk Processes

Work with Experts Focused on Financial Institutions

Understand Risk Holistically

How Does Nrisk Compare to Managing Risk in Spreadsheets?

Ready to Transform Your Risk Management?

How Financial Institutions Are Building Stronger Risk Programs with Nrisk

Frequently Asked Questions

Why Nrisk Outperforms Traditional Risk Assessment Tools

Montecito Bank & Trust Case Study

Risk Management Resources

See how Ncontracts can help!