July 16, 2009
Enterprise Risk Management (ERM) has the attention of financial institutions now more than ever. The process of outsourcing risk assessment practices that incorporate all elements of risk across the enterprise is a challenge that exists for financial institutions big and small. Stakeholders must understand how their risk assessment practices tie into the bank's overall strategy, how it impacts costs and profitability across each operating unit, and must be able to make quick, informed decision to unexpected changes in order to keep the bank safe, secure customer confidence, and satisfy regulators. Implementing a 3rd party ERM solution that automates risk management processes, integrates all elements of risk across the enterprise, and provides secure access to centralized data can help you get there.
Read the WIB's Risk Management issue for the full article.
“ WolfPACsm allows us to have a living risk assessment document. Instead of a manual process where reports are dusted off every couple years, our risk assessment program is updated on a regular basis and uses a common language and methodology. ”
Bob Costa
Randolph Savings Bank
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