fintech risk monitoring


Watchtower Risk Assessment solutions include Program Risk Assessments required by regulators to offer a top-down view into the risk of your various programs. Pairing this with our extensive library of Risk and Control Self Assessments (RCSA) creates a bottom-up view of the activities executed on a day-to-day basis by your first line of defense or front-line employees. Paired together, these risk assessments can be deployed and managed via Watchtower’s risk intelligence platform, creating a holistic view of your overall risk program.

fintech risks

Program Risk

Program Risk Assessments focus on evaluating risks associated with regulatory requirements, for example BSA/AML, Fair Lending, and Information Security, that are frequently requested by regulators. These Risk Assessments aim to identify and manage risks that could impact the success of the overall risk program. Watchtower helps you assess and visualize various risk elements of the regulation which gets aggregated and compared to the bank's overall risk appetite.

Risk & Control
Self-Assessment (RCSA)

Risk and Control Self Assessments (RCSA), focus on the intricacies of individual processes and involves assessing risks within specific processes or activities within the bank. Examples include account opening, loan origination, and payment processing. The RCSA aims to identify vulnerabilities and weaknesses within these processes and helps management at the bank ensure that the necessary controls are properly mitigating the identified risks.

Types of Assessments Available

Program Risk Assessments*

Electronic Banking
Fair Lending
ID Theft / Red Flags
Information Technology Security
Internal Audit
Model Risk

*purchased as a package

Risk & Control Self Assessments

Human Resources
IT and Cyber
Risk Management

active reporting of risks at 1st, 2nd and 3rd Lines of Defense

Watchtower offers integrated risk management and compliance functionality to empower department-level users to perform program and process level risk assessments across the organization, business area, and product. Watchtower helps you analyze risk and control data efficiently, enabling proactive risk management and compliance monitoring.

Key features include:

Preloaded risk & controls, compliance frameworks, & standard assessments
Task assignments & execution for ad hoc control tracking
‍Informative dashboards with downloadable dynamic reporting
Ensure day-to-day compliance with enabled Program Risk Assessments (e.g. Compliance, BSA/AML, etc.)
‍Periodic program risk assessments & configurability based on ongoing regulatory changes

Advantages and benefits of Watchtower

Watchtower’s Risk Assessment solutions can provide many benefits and mature the institution’s risk and compliance program. By leveraging Watchtower to manage and execute your risk assessments, the bank can achieve:

Centralized &
Automated System
Enhanced Efficiency
& Productivity
Risk Visibility
Standardized &
Consistent Assessments
Advanced Analytics
& Reporting
Regulatory Compliance

Modernize your risk and compliance program today

Retire manual excel templates by leveraging Watchtower, The Holistic Risk Intelligence PlatformTM. Banks can streamline their risk management processes, improve accuracy, enhance efficiency, and gain better visibility into their risk landscape. Schedule an exploratory call today, to see how Watchtower Risk Assessments can help create a more effective risk mitigation and governance strategy within the organization to stay compliant.

cyber security compliance framework