Risk register for banks and financial institutions
A free, function-by-function register of 1,208 key risks and 3,267 best-practice controls across 32 banking functions, for banks, insurers, brokerages, money service businesses and fintechs. Use it to identify risks, benchmark your controls or start a risk and control self-assessment, and download any function as an RCSA workbook.
Functions linked to today's priority topics
| Function | Topic | Units | Risks | Controls |
|---|---|---|---|---|
| Artificial Intelligence and Model Risk | AI and model risk | 6 | 24 | 72 |
| Compliance | Compliance | 5 | 38 | 97 |
| Digital Banking | Operational resilience | 5 | 17 | 42 |
| Information Security | Operational resilience | 7 | 27 | 69 |
| Information Technology | Operational resilience | 6 | 35 | 95 |
| Operations | Operational resilience | 6 | 33 | 78 |
| Risk Management | AI and model risk | 6 | 35 | 92 |
All functions
- Artificial Intelligence and Model Risk 24 risks, 72 controls
- Audit 38 risks, 195 controls
- Card Services 51 risks, 251 controls
- Cash Management 44 risks, 153 controls
- Compliance 38 risks, 97 controls
- Corporate Banking 40 risks, 106 controls
- Correspondent Banking 42 risks, 104 controls
- Customer Service 39 risks, 98 controls
- Digital Banking 17 risks, 42 controls
- Enterprise Risk 23 risks, 360 controls
- Environmental, Social and Governance 186 risks, 135 controls
- Financial Reporting 42 risks, 107 controls
- Human Resources 35 risks, 101 controls
- Information Security 27 risks, 69 controls
- Information Technology 35 risks, 95 controls
- International Banking 29 risks, 78 controls
- Investment Banking 37 risks, 93 controls
- Investment Management 35 risks, 83 controls
- Investor Relations 25 risks, 62 controls
- Legal 34 risks, 78 controls
- Marketing 31 risks, 74 controls
- Operations 33 risks, 78 controls
- Product Development 35 risks, 79 controls
- Real Estate Finance 26 risks, 70 controls
- Retail Banking 33 risks, 89 controls
- Risk Management 35 risks, 92 controls
- Small Business Banking 26 risks, 78 controls
- Special Assets 24 risks, 70 controls
- Strategic Planning 25 risks, 58 controls
- Treasury 36 risks, 72 controls
- Trust Services 30 risks, 60 controls
- Wealth Management 33 risks, 68 controls
How do I use the register for a risk and control self-assessment?
Pick the function
Open the function that matches the unit you are assessing.
Select the risks that apply
Keep the risks relevant to your products and processes and add any that are missing, including AI use cases from your inventory.
Map your controls
Compare the best-practice controls with the controls you actually operate and note the gaps.
Rate and act
Rate inherent risk, control effectiveness and residual risk, then agree dated actions. The free workbook on each page has the columns ready.
Want this to run continuously, with owners, KRIs and reminders? The cloud risk management software starts from the same library and can be live within 24 hours.
The register is a starting point for risk identification and benchmarking. Adapt risks and controls to your institution's size, products, jurisdiction and regulatory requirements.
Frequently asked questions
What is a risk register in banking?
A risk register lists the risks a bank or one of its functions faces, explains what can go wrong, and records the controls that mitigate each risk. It is the starting point for risk and control self-assessments, audits and risk reporting.
What does this risk register cover?
It covers 32 functions of banks and other financial institutions, with 204 units, 1,208 risks and 3,267 best-practice controls, from retail and corporate banking to treasury, information security, ESG and AI and model risk.
Can I download the register?
Yes. Each function page offers a free RCSA workbook in CSV format after you confirm your email address with a 6-digit code.
Who is the register for?
Banks, insurers, brokerages, money service businesses, microfinance banks, digital banks and fintechs, and the risk, compliance and audit professionals who work in them.
Put these controls to work this month
Start on the cloud risk management software within 24 hours, or ask for training or advice tailored to your institution.