Strategic Risk Associates

Strategic Risk Associates (SRA), now operating as SRA Watchtower, provides integrated risk and performance management solutions tailored for the financial services and insurance industries. The firm was established in 2008 by a team of veteran bankers and former regulators, including co-founder Michael Glotz, in response to the clear need for enhanced risk management frameworks following the Great Recession. Initially a consulting firm, SRA transitioned its focus to its software-as-a-service (SaaS) offerings, leading to the divestiture of its consulting practice in 2023 to concentrate on the Watchtower platform. In July 2024, the company appointed Edward Vincent as its new CEO to lead its evolution as a SaaS technology company.

The company's core offering is the SRA Watchtower platform, an intelligent system designed to provide a holistic view of an organization's risk profile. This platform integrates enterprise risk management, governance, and compliance, enabling clients to identify, monitor, and mitigate risks in real-time. Developed with the mantra "by bankers, for bankers," the Watchtower solution aggregates disparate data to deliver actionable insights and executive-level reporting on key risk indicators, risk appetite, and performance metrics. The platform addresses a spectrum of risks, including operational, IT, compliance, and third-party vendor risks, and has expanded to cover emerging areas like FinTech and digital asset risk management.

SRA operates on a B2B SaaS business model, generating revenue through subscriptions to its Watchtower platform. The company serves hundreds of financial institutions across the United States, including banks and credit unions, helping them navigate regulatory pressures and manage the complexities of modern financial products. SRA has formed strategic partnerships with companies like Fiserv, Trust Exchange, and Compliance.ai to enhance its platform's capabilities in areas such as vendor management and regulatory change management. The company has successfully raised significant capital to fuel its growth, including a $12 million Series B round in November 2022, bringing its total funding to over $22 million. This capital is being used to accelerate product development, expand data analytics capabilities, and grow its sales and marketing efforts.

Keywords: risk intelligence, performance management, enterprise risk management, GRC platform, financial services, banking compliance, credit unions, insurance risk, SaaS, RegTech, SRA Watchtower, risk analytics, regulatory compliance, operational risk, third-party risk management, FinTech risk, digital asset risk, capital planning, stress testing, compliance automation