Own Risk and Solvency Assessment (ORSA) — NAIC Model Act for Risk Managers
Risk Managers identify, assess, and prioritise organisational risks. This guide covers how Own Risk and Solvency Assessment (ORSA) — NAIC Model Act impacts the Risk Manager role, key responsibilities, common challenges, and practical tools for success.
How Own Risk and Solvency Assessment (ORSA) — NAIC Model Act Impacts Risk Managers
Risk Managers identify, assess, and prioritise organisational risks. They build risk registers, conduct risk assessments, define risk appetite, and ensure that compliance frameworks address the most material threats to the organisation.
Own Risk and Solvency Assessment (ORSA) — NAIC Model Act defines 11 controls across 4 domains that directly affect the Risk Manager role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.
Risk Manager Responsibilities Under Own Risk and Solvency Assessment (ORSA) — NAIC Model Act
Conducting enterprise risk assessments and maintaining the risk register
Defining risk appetite and tolerance levels with executive leadership
Mapping compliance controls to identified risks for coverage analysis
Monitoring key risk indicators (KRIs) and escalating emerging threats
Integrating compliance, operational, and strategic risk management
Common Own Risk and Solvency Assessment (ORSA) — NAIC Model Act Challenges for Risk Managers
These are the most common obstacles Risk Managers face when managing Own Risk and Solvency Assessment (ORSA) — NAIC Model Act compliance, and how to address them:
Challenge 1
Quantifying cyber risk in financial terms that resonate with executives
Challenge 2
Identifying gaps between compliance control coverage and actual risk exposure
Challenge 3
Integrating risk data from siloed tools and departments
Challenge 4
Keeping risk assessments current as the threat landscape evolves
Challenge 5
Prioritising remediation when resources are limited
Getting Started with Own Risk and Solvency Assessment (ORSA) — NAIC Model Act as a Risk Manager
1. Readiness Assessment
Take a 5-minute readiness assessment to identify your organisation's current gap profile against Own Risk and Solvency Assessment (ORSA) — NAIC Model Act. Get a prioritised action plan tailored to your specific situation.
2. Cross-Framework Mapping
Use our platform to map Own Risk and Solvency Assessment (ORSA) — NAIC Model Act controls against other frameworks you already comply with. Own Risk and Solvency Assessment (ORSA) — NAIC Model Act maps to 7 other frameworks in our database.
3. Build Your Toolkit
Equip yourself with Own Risk and Solvency Assessment (ORSA) — NAIC Model Act toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Risk Managers managing compliance programmes.
4. Continuous Monitoring
Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.
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Own Risk and Solvency Assessment (ORSA) — NAIC Model Act for Other Roles
Frequently Asked Questions
What does a Risk Manager need to know about Own Risk and Solvency Assessment (ORSA) — NAIC Model Act?
How does Own Risk and Solvency Assessment (ORSA) — NAIC Model Act affect the Risk Manager role?
What are the biggest Own Risk and Solvency Assessment (ORSA) — NAIC Model Act challenges for Risk Managers?
How should a Risk Manager prepare for a Own Risk and Solvency Assessment (ORSA) — NAIC Model Act audit?
What tools help Risk Managers manage Own Risk and Solvency Assessment (ORSA) — NAIC Model Act compliance?
Risk Manager: How ready is your organisation for Own Risk and Solvency Assessment (ORSA) — NAIC Model Act?
Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.