We Claim:
1. A method of improving risk assessment for an enterprise, comprising:
receiving, by a risk management system, a selection of at least one risk feature interface (104) and one or more search criteria associated with the at least one selected risk feature interface (104) as input from a user;
retrieving, by the risk management system, proprietary risk information, related to at least one selected risk feature interface corresponding to the one or more search criteria;
retrieving, by the risk management system, benchmark and/or peer risk information, related to the at least one selected risk feature interface corresponding to the one or more search criteria;
determining, by the risk management system, risk assessment, by simultaneously superimposing benchmark and/or peer risk information onto the proprietary risk information; and
contemporaneously displaying, by the risk management system, the risk assessment determined based on the superimposition.
2. The method as claimed in claim 1, further comprising managing one or more risk
feature interfaces (104), wherein managing comprises steps of:
determining the one or more risk feature interfaces (104), wherein each risk feature interface (104) corresponds to a unique representation of risk assessment of the enterprise based on predetermined combination of risk information of the enterprise; and
displaying the one or more determined risk feature interfaces (104) on the user device (103) for selection by the user.
3. The method as claimed in claim 1, wherein the proprietary risk information comprises risk information and a plurality of risk metrics associated with the enterprise, and wherein the benchmark and/or peer risk information comprises at least benchmark information related to various risk and peer risk and response information associated with plurality of peer enterprises.
4. The method as claimed in claim 1, wherein the superimposing comprises steps of:

identifying at least one risk metric common to both the proprietary risk information and benchmark and/or peer risk information obtained based on the one or more search criteria;
retrieving the benchmark and/or peer information corresponding to the identified at least one common risk metric; and
automatically pushing the determined benchmark and/or peer information onto the risk feature interface for displaying in a relevant format along with the proprietary risk information in real time for improved risk assessment.
5. The method as claimed in claim 1, further comprising:
determining a reliability score (500) indicative of relevance of data records comprising the proprietary risk information used to determine the risk assessment and benchmark and/or peer risk information, based on a set of defined parameters (502) related to the proprietary risk information or benchmark and/or peer risk information obtained based on the one or more search criteria, wherein the set of defined parameters include but not limited to count of the data records, input method of data records, quality of data, source of data, and consistency of processed data records; and
automatically updating the reliability score (500) for improved risk assessment based on the proprietary risk information, benchmark and/or peer risk information, the one or more search criteria, and feedback to the reliability score.
6. The method as claimed in claim 5, wherein determining the reliability score (500)
comprising:
classifying each parameter value into one of low, moderate, high and very high categories based on the parameter value, wherein each of the categories is assigned with a defined rating (R), and each parameter is assigned with a defined weightage score (W);
determining -a parameter score for each of the defined parameter (502) based on the defined rating (R) of the respective parameter obtained by the classification and respective defined weightage score (W) of the parameter against the processed data records; and
computing the reliability score (504) based on the parameter score for all the defined parameters.

7. The method as claimed in claim 1, further comprising:
determining one or more updates to the benchmark and/or peer risk information mapped to the proprietary risk information; and
dynamically superimposing onto the proprietary risk information by automatically pushing the updated benchmark and/or peer risk information next to the mapped propriety risk information for optimized risk assessment.
8. A system for improving risk assessment for an enterprise, the system comprising:
a processor (112) and a user device (103) coupled with the processor (112); one or more risk feature interfaces (104) coupled to the processor (112); a memory (114) communicatively coupled with the processor (112), wherein the memory (114) stores processor-executable instructions, which on execution, cause the processor (112) to:
receive a selection of at least one risk feature interface (104) and one or more search criteria associated with the at least one selected risk feature interface (104) as input from a user;
retrieve proprietary risk information (212), related to at least one selected risk feature interface corresponding to the one or more search criteria; retrieve benchmark and/or peer risk information (216, 214), related to the at least one selected risk feature interface (104) corresponding to the one or more search criteria;
determine an improved risk assessment, by simultaneously superimposing benchmark and/or peer risk information (216, 214) onto the proprietary risk information (212); and
contemporaneously display the improved risk assessment determined based on the superimposition.
9. The system as claimed in claim 8, wherein the processor is further configured to
manage one or more risk feature interfaces (104), by:
determining the one or more risk feature interfaces (104), wherein each risk feature interface (104) corresponds to a unique representation for improved risk assessment of the enterprise based on a determined combination of risk information of the enterprise accessible by the user based on access policy corresponding to the

role of the user; and
displaying the one or more determined risk feature interfaces (104) on the user device (104) for selection by the user.
10. The system as claimed in claim 8, wherein the proprietary risk information (212) comprises risk information and a plurality of proprietary risk metrics associated with the enterprise, and wherein the benchmark and/or peer risk information (216, 214) comprises at least benchmark information related to various risk and peer risk and response information associated with plurality of peer enterprises.
11. The system as claimed in claim 8, further comprises a proprietary data repository (124) for storing the proprietary risk information (212), and a client data management module (106) coupled with the proprietary data repository (124) and configured to manage and update the proprietary risk information (212) in the proprietary data repository (124) .
12. The system as claimed in claim 8, further comprises an external risk benchmark and peer data repository (128) for storing the benchmark and/or peer risk information (216, 214), and an external data management module (108) coupled with the external benchmark and peer data repository (128) and configured to manage and update the benchmark and/or peer risk information in the external benchmark and peer data repository (128).
13. The system as claimed in claim 12, wherein the external data management module (109) receives feeds of the benchmark, peer risk information (216, 214) from one of public databases (132-2), subscribed databases (132-1) and input data provided bya Knowledge Process Organization (132-3).
14. The system as claimed in claim 8, wherein the processor is configured to superimpose the benchmark and/or peer risk information (216,214) onto the proprietary risk information (212), by:
identifying at least one risk metric common to both the proprietary risk information (212) and benchmark and/or peer risk information (216, 214) obtained based on the one or more search criteria;

retrieving the benchmark and/or peer information (216, 214) corresponding to the identified at least one common risk metric; and
automatically pushing the determined benchmark and/or peer information (216, 214) onto the risk feature interface (104) for display in a relevant format along with the proprietary risk information (212) in real time for improved risk assessment.
15. The system as claimed in claim 8, wherein the processor (112) is further configured
to:
determine a reliability score (500) indicative of relevance of data records comprising the proprietary risk information used to determine risk assessment and benchmark and/or peer risk information,based on a set of defined parameters (502) related to the proprietary risk information (212) and benchmark and/or peer risk information (216, 214) obtained based on the one or more search criteria, wherein the set of defined parameters (502) include but not limited to count of the data records, input method of data records, quality of data, source of data andconsistency of processed data records; and
automatically update the reliability score (500) for risk assessment based on the real time proprietary risk information (212), benchmark and/or peer risk information (216, 214), the one or more search criteria, and feedback to the reliability score (500).
16. The system as claimed in claim 15, wherein the processor (112) is configured to
determine the reliability score (500) by:
classifying each parameter (502) value into one of low, moderate, high and very high categories based on the parameter value, wherein each of the categories is assigned with a defined rating (R), and each parameter is assigned with a defined weightage score (W);
determining a parameter score for each of the defined parameter based on the defined rating of the respective parameter obtained by the classification and respective defined weightage score of the parameter against the processed data records; and
computing the reliability score (500) based on the parameter score for all the defined parameters.

17. The system as claimed in claim 8, wherein the processor (112) is further configured to:
determine one or more updates to the benchmark and/or peer risk information (216, 214) mapped to the proprietary risk information (212); and
dynamically superimpose onto the proprietary risk information (212) by automatically pushing the updated benchmark and/or peer risk information (216, 214) next to the mapped propriety risk information (212) for optimized risk assessment.