Callisto ORM
Operational risk management and control with integrated analytics and visualizations
About Callisto ORM
Callisto ORM is an operational risk management application from Acies TechWorks, the product arm of Mumbai-based risk consultancy Acies. It automates risk and control self-assessments (RCSAs), control testing, key risk indicator (KRI) monitoring, loss data management, and incident case management for banks, insurers, and other regulated institutions. The platform is built on Acies' no-code architecture, so risk teams can reconfigure workflows, KRI computations, and dashboards without vendor change requests.
Pros & Cons
Pros
- Covers the core operational risk stack in one application: RCSAs, control testing, KRIs, loss data, and incidents
- No-code configuration lets risk teams change workflows, KRI formulas, and reports without vendor change requests
- Automated KRI computation and control testing pull data from internal and external sources with built-in data quality checks
- Implementation includes hand-held RCSA and KRI pilots plus admin and user training
- Backed by a risk consultancy with Asia Risk awards, and Callisto won GRC Solution of the Year at the 2025 Risk Asia Awards
Cons
- No public pricing or self-serve trial; access is through a sales demo
- Implementation runs 5 to 6 months, which is long compared with lightweight GRC tools
- Few independent user reviews on G2 or Capterra to validate vendor claims
- Aimed at banks and regulated financial institutions, so it is heavy for small businesses
Key Features
RCSA automation
Runs risk and control self-assessments through risk registers and a scoring methodology built around the organization's own risk heat map.
Automated control testing
Tests controls automatically by pulling data from sources inside and outside the organization.
KRI definition and mapping
Defines key risk indicators and maps them to the underlying risks they track.
No-code Computation Studio
Configures automated KRI calculations and custom analytical models without code, with no-code data validation checks on the inputs.
KRI breach monitoring
Sets KRI limits with ongoing monitoring, alerts, and approval workflows and hierarchies for breach reporting and ratification.
Loss data management
Captures and categorizes loss events, tags them to risks, processes, and business units, and projects future losses using configurable statistical models.
Incident case management
Logs incidents, losses, and near misses, assigns investigations and root-cause assessments, and tracks remediation plans with owners and timelines.
Configurable risk and control libraries
Maintains standard risk and control libraries shared across processes and departments, editable by end users from the front end.
Dashboards and integrated BI
Provides risk health dashboards, incident ageing reports, and alerts, with an integrated BI tool for collaborative reports and visualizations.
Data integration and audit trails
Supports data streaming and APIs with inline data quality checks and audit trails.
Pricing
- Standard or subscription license
- Cloud deployment options
- Prepackaged components for go-live in 5 to 6 months
- Pilot runs for RCSAs and KRIs included in implementation
- Admin and user training included
- Demo on request
Best For
Bank operational risk programs
Banks run periodic RCSAs, track KRIs against limits, and report breaches through approval hierarchies to meet regulatory expectations.
Insurance loss event tracking
Insurers capture and categorize operational loss events, link them to risks and business units, and project future losses.
Incident and remediation management
Risk teams log incidents and near misses, run root-cause investigations, and track remediation plans with owners and due dates.
Replacing spreadsheet-based risk registers
Organizations move risk and control libraries out of spreadsheets into shared, configurable libraries with audit trails and dashboards.
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