Bank Branch Risk Assessment


Assess risks across each of your enterprise’s branches with LogicManager’s all-in-one Bank Branch Risk Assessment solution package.

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Why a Risk-Based Approach to Branch Assessments is important:

LogicManager’s Branch Risk Assessment Solution

Here are more details on what you can expect with LogicManager’s Branch Risk Assessment solution package for banks:

  • Customize the LogicManager home screen to bring your end users directly to their branch risk assessment tasks to ensure they’re completed in a timely manner.
  • Surface risk insights and concerns from your frontline managers through our standardized Bank Branch Risk Assessment to ensure better resource allocation.
  • Use LogicManager’s Control & Control Suggestions feature to automatically calculate control effectiveness and leverage existing entity controls to make your program more efficient.
  • Our comprehensive Risk Library, organized by common root-cause sources of bank branch risks, helps you design controls that more effectively mitigate systemic risks.
  • Using our Enterprise Heatmap, create visualizations on which branches need additional resources or auditing to strengthen the overall enterprise.
  • Experience a robust Reporting & Dashboards system that makes it easy to drill into data such as branches with the most critical risks, location-specific risk factors and much more.

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Conduct Branch Assessments with LogicManager

Organized risk assessments

Use a risk assessment to easily identify bank risk themes across your branches as well as gaps in controls and processes. It’s also important to gain insight into location-specific risk factors (like susceptibility to natural disaster, number of employees or departments, etc.) to truly understand your risks on an enterprise level.

Centralized risk library

LogicManager’s out of the box bank risk library will benefit your organization by uncovering dependencies across departments and branches while also standardizing the language across your entire organization. This gives teams an approachable starting point to complete their risk assessments.

Manage controls with purpose

Create and maintain your control repository with strategic bank goals in mind. This can be done easily since all of your branches and departments have the ability to reference what other locations are doing to control risk.

What is a Bank Branch Risk Assessment?

The hallmark of a healthy enterprise risk management (ERM) system is the ability to assess risk in a uniform fashion. This is especially true for financial institutions with multiple branches; it’s important to consider each of their risks as your own, and standardizing this process across the board can help streamline your processes tremendously and set your entire business up for success.

For financial institutions adopting a risk based approach and an objective risk assessment solution, you can identify the overlapping activities that crowd your program, prioritize actions and help your branches make more informed decisions. Read on to learn about LogicManager’s comprehensive Branch Risk Assessment solution package.

Bank Branch Risk Assessment Risks

Conducting branch risk assessments is an essential part of your ERM program. When your ERM program falls short, risks that once posed minimal threat to your organization can quickly snowball. Failure in critical ERM processes like risk assessments can lead to a rating downgrade or warning flag or business continuity failures and product liability issues.

Without a complete ERM program, you’ll be left without evidence to prove you were not negligent. Considering the fact that regulatory penalties, fines and shareholder value decline can add up, it’s important to for any financial institution to prevent risk management deficiencies wherever possible – and it all starts with better risk assessments. This will allow them to achieve regulatory compliance.

On a more immediate scale, failure in branch risk assessment can lead to the following consequences:

  • Lack of Continuity: Changes in the organization or development of new business lines may result in new activities even though existing ones are more effective.
  • Lack of Coordination: Often, activities apply to multiple risks or commitments across functional lines. The inability to formally tie activities to risk or commitments hinders inter-functional coordination, resulting in business silos and duplication of effort.
  • Activity Fatigue: Staff may ignore certain activities because of a lack of time to assess them.
  • Wasted Resources: If a risk changes, most branches would have no way of knowing how (or even if) these changes will affect their resources and activities.
  • Activity Obsolescence: In a changing environment, there is no effective way to know when activities no longer apply.
  • Lack of Prioritization: Picking activities to focus on is likely to be on an ad hoc basis and subject to the whims of current staff.

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Bank Branch Risk Assessment Tools

To see how LogicManager can help you communicate risk across branches, collect actionable information and ultimately set your organization up for success, ask our experts about our Branch Risk Assessment solution today.