Banking and Financial Services organisations face an increasingly complex and challenging business environment. Faced with a volatile risk environment, the majority of banks and other financial institutions have been driven by their regulators to re-organise and re-prioritise their organisation’s approach to Risk Management and software in general.


  • Credit Risk: defined as the potential that a bank borrower or counterparty will fail to meet its obligations in accordance with agreed terms.
  • Market Risk: defined as the risk of losses in the bank’s trading book due to changes in equity prices, interest rates, credit spreads, foreign-exchange rates, commodity prices, and other indicators whose values are set in a public market.
  • Liquidity Risk: defined as the risk that may disable a bank from carrying out its day-to-day cash transactions.
  • Operational Risk: defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events including legal risk.
  • Systemic Risk: are associated with cascading failures where the failure of a big entity can cause the failure of all the others in the industry.
  • Reputational risk: defined as the possible loss of the organisation’s reputational capital. Everything a bank does is judged by its customers, investors, opinion leaders and other stakeholders who mould a bank’s brand image.
  • Ethical / Moral hazard risk occurs when a big bank or large financial institution takes risks, knowing that someone else will have to face the burden of those risks. E.g. subprime mortgage crisis of 2008 /2009
  • Strategic risk.
  • Increased regulatory pressure including social responsibility, social movements, environmental etc.
  • Technology disrupters.
  • Shortage of skilled and experienced staff.

Executives recognise the importance of continuous risk management and monitoring exposures, but few are able to monitor key risks continuously in their companies. From small community banks to large multinational financial institutions, too many resources are taken up by manual compliance activities. As the number of regulations increase and change, so do the risk assessments required as part of your Risk Management and Compliance process.


A flexible risk management framework is critical for meeting the needs of a complex and dynamic industry such as the financial services industry. Financial service organisations need an effective way of prioritising and managing risk across the organisation, as well as complying with local and cross-border legislation, standards and mandates. Proactive risk management also involves the documenting and managing of incidents / near misses. In addition, the identification and ongoing monitoring of risk mitigation plans is critical to effective risk management.
An organisation’s risk and opportunities, strategy, business model, performance and sustainable development are all inseparable elements of the value creation process. (King IV™ Principle 4)


BarnOwl GRC software streamlines your GRC processes, integrates risk, compliance and assurance information on a centralised platform, standardises risk and control taxonomies and offers the flexibility and scalability required for your changing business environment. BarnOwl Risk Management Software:

  • provides a customisable risk-based framework for the banking and financial services industry (in line with the COSO and ISO31000 standards) for you to manage your operational risk and compliance process, as well as facilitate audits, findings and detailed analysis.
  • enables you to identify and document risks, causes, consequences and related controls (e.g. bowtie).
  • automates risk and control self-assessments.
  • provides a centralised repository for all your regulatory compliance requirements (fully integrated 3rd party compliance library) and tracks how you are meeting each compliance requirement.
  • assists with the automation and monitoring of key risk indicators and compliance activities.
  • streamlines internal audits, forensic audits, as well as third-party audits and enables you to gain real-time visibility into risk-based auditing, audit findings, root cause analysis and the ongoing monitoring of mitigation actions.
  • provides for the recording and monitoring of loss events, tip offs (whistleblowing), conflict of interest, gift registers etc.
  • brings together risk management, compliance, assurance, as well as all related communication, analysis and reporting under a common platform.
  • provides continuous monitoring of your risk universe with early-warning notifications.
  • drives the proactive management of risk mitigation strategies.
  • generates risk intelligence and trend reporting at all levels of the organisation.


The benefits of using BarnOwl’s Risk Management Software include:

  • Improved GRC maturity through an integrated and flexible GRC solution.
  • Optimise and monitor risk-reward outcomes by gaining a comprehensive, real time view of your organisation’s risk profile.
  • Simplify regulatory compliance, using a single system to manage your compliance requirements and activities.
  • Enhance GRC productivity and efficiency as well as embed standards across the value chain.
  • Facilitate greater communication and collaboration on GRC tasks across all business units and locations.
  • Drive ownership and accountability for risk management across the organisation.
  • Facilitate the principle that an organisation’s risk and opportunities, strategy, business model, performance and sustainable development are all inseparable elements of the value creation process. (King IV Principle 4)

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GRCReady is the official provider of risk management content for the BarnOwl GRC software solution. GRCReady provides extensive risk libraries and risk maturity checklists/surveys which are integrated with BarnOwl.

GRCReady, based in Australia, offers a comprehensive and holistic library of products and associated services including templates, policies, procedures, guidelines, checklists etc.t to help owners and directors of SMEs, startups and corporates to satisfy their corporate governance, risk management and regulatory compliance needs.

By integrating GRCReady's rich content libraries into BarnOwl's GRC software, we are able to offer our clients a state of the art, turnkey GRC solution.

GRCReady provides, arguably, the most comprehensive risk and governance maturity assessment framework with detailed steps and artefacts. BarnOwl's survey and action plan portal provides a simple and effective way to monitor and report on your current state of risk maturity and suggest and drive remedial action plans to take you to your desired state of risk and governance and maturity.

By integrating GRCReady's risk libraries with the BarnOwl GRC software, means that you don't have to start from scratch. In addition, ongoing updates and insights keep you informed and up-to-date on best practices.


Season Rhyrhm is BarnOwl's preferred partner in Botswana assisting with BarnOwl implementations, support services and client relationship management.

Season Rhythm is an established and distinguished player in the ICT sector in Botswana, specialising in a range of cutting-edge solutions. Season Rhythm leverages BarnOwl to provide tailored GRC&A services to businesses in Botswana facilitating:

  • Governance: Enabling organisations to establish and uphold effective governance structures, ensuring transparency and accountability in decision making processes.
  • Risk Management: Equipping businesses with tools to identify, assess and mitigate risks, safeguarding against potential threats and ensuring continuity in a business environment.
  • Compliance: Ensuring adherence to regulatory frameworks and industry standards, protecting businesses from non-compliance penalties and fostering trust among stakeholders.
  • Audit: Streamling the audit process with comprehensive tools for planning, execution and reporting, driving efficiency and accuracy in internal audit and compliance assessments.


BarnOwl works closely with NSA in the field of GRC and assurance.

NSA is an education and risk & assurance advisory services provider, consisting of a team of professional consultants and facilitators who have been hand-picked on experience and expertise. NSA services include:

  • Strategic intervention: 30 expert consultants facilitating strategic planning, combined assurance, effective governance and risk management assignments.
  • Continuous professional development: CPD training for internal auditors, external auditors, accountants, risk managers, government officials, and psychologists.
  • Online learning: accredited training for the local government sector, including the Municipal Financial Management Program and Supply Chain Management.
  • Online skills development: skills in demand for 2030, including cybersecurity, Protection of Personal Information, Artificial Intelligence, Robotics and programming.

BarnOwl and NSA work closely with our clients to align and enable best practice GRC and assurance framework & methodologies within BarnOwl. NSA regularly presents online information sharing sessions together with BarOwl.


Nico Technologies is BarnOwl's preferred partner in Malawi assisting with BarnOwl implementations, support services and client relationship management.

Nico Technologies Limited is an established IT products and services provider in Malawi, specialising in managed IT services, IT infrastructure services, IT project management, digital solutions, digital transformation and IT advisory.

Nico Technologies uses BarnOwl extensively within their own organisation to automate and manage their own risk and compliance functions.


Morgan Solus is BarnOwl's preferred business continuity specialist consulting firm with its 'BCM toolkit' software. BarnOwl GRC together with the BCM toolkit, provides a comprehensive risk management and BCM software solution.

Morgan Solus is a specialist consultancy firm focusing on risk, resilience and continuity. Morgan Solus's core services are centred on resilience, crisis management, business continuity (BCM), IT services continuity and disaster recovery (DRP) and training.

The BCM toolkit ensures a consistent approach to implementing BCM and IT disaster recover and cuts down implementation timelines by 60% whilst driving up successful outcomes.

BarnOwl's extensive GRC and assurance functionally coupled with Morgan Solus's BCM toolkit provide the ultimate risk management and BCM software solution.


Arbutus Analytics is Barnowl's preferred data analytics software. BarnOwl GRC integrated with Arbutus Analytics, provides the ultimate in continuous risk monitoring.

Arbutus Analyzer is a powerful data access and analysis solution specifically developed for auditors, business analysts, and fraud investigators. Its robust performance and user-friendly features offer you the ability to access and analyse data quickly and simply.

BarnOwl GRC, integrated with the real-time metrics from Arbutus provides a strategic early warning system driving preventative and predictive capability facilitating effective business decision making business improvement. with local sub-sahara African distributor


Barnowl works closely with Pax Resilience in the field of GRC and sustainability.

Pax Resilience offers solutions in risk, resilience and cyber security. Pax Resilience strive to create peace of mind by assisting you to build the resilience in your organisation so essential to survive and thrive in the volatile, uncertain, complex and ambiguous world we live in.

Pax Resilience regularly presents online information sharing sessions together with Barnowl.


Paige Law is the official provider of compliance content for the Barnowl GRC software solution. Paige Law provides an extensive Library of South African acts including provisions [CRMPs] and checklists which are integrated with Barnowl.

Paige Law specialises in compliance, Commercial Law, Legal process consultancy, managed legal services and POPIA/ GDPR.


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