How a Pension fund digitized Risk Management

Moving Beyond Spreadsheets

For many financial services organizations, risk management processes have evolved over time into a collection of spreadsheets, documents, and manual activities. While these approaches may work initially, they often become increasingly difficult to maintain as regulatory requirements grow and organizations expand their risk frameworks.

One of the largest pension funds in the Netherlands, faced this challenge. The organization was looking for a more efficient way to manage risks, controls, findings, and incidents while reducing the administrative burden associated with manual risk management processes. At the same time, maintaining compliance and demonstrating accountability remained a key priority.

Building a Centralized Risk Management Framework

To support its risk and compliance objectives, the fund implemented KPMG Sofy Risk Management. The solution provided a centralized environment where risks, controls, mitigation measures, findings, and action plans could be managed in a structured and consistent manner.

By moving away from spreadsheet-based processes, the organization gained greater transparency into its risk landscape and established a single source of truth for risk management activities. This made it easier for stakeholders to collaborate, monitor progress, and maintain oversight of ongoing risk and compliance initiatives.

Enhancing Risk Assessments and Monitoring

Managing risks effectively requires more than just documenting them. Organizations must continuously assess the likelihood and impact of potential risk scenarios, monitor remediation activities, and track progress over time.

Using Sofy, the fund was able to streamline risk assessments and automate follow-up actions through findings, controls, and action plans. Real-time reporting capabilities provided management and risk owners with up-to-date insight into assessment results, outstanding actions, incidents, and overall risk exposure.

Increasing Transparency and Accountability

One of the key advantages of a digital risk management platform is the ability to create a complete audit trail. Every action, update, and decision can be tracked automatically, increasing transparency and improving accountability across the organization.

For the fund, this resulted in stronger compliance processes and better visibility into who performed specific activities and when. This level of transparency supports internal governance requirements and helps organizations remain prepared for audits and regulatory reviews.

Benefits Realized

By digitalizing its risk management processes, the fund achieved several important improvements:

• Centralized management of risks, controls, findings, and action plans.
• Reduced reliance on manual and spreadsheet-based processes.
• Improved visibility into risk assessments and mitigation activities.
• Real-time reporting for management and stakeholders.
• Enhanced compliance through a complete audit trail.
• Greater awareness of risk management throughout the organization.

A Foundation for Modern Risk Management

As regulatory expectations continue to evolve, financial institutions require efficient and scalable approaches to risk management. Modern platforms enable organizations to replace fragmented processes with integrated workflows, automated reporting, and real-time visibility.

By implementing KPMG Sofy Risk Management, the fund successfully transformed its approach to risk and compliance, creating a more efficient, transparent, and data-driven risk management process.

Looking to modernize your risk management processes? Discover how KPMG Sofy helps organizations centralize risk management, automate assessments, and strengthen compliance across the enterprise.