WolfPAC Integrated Risk Management Blog

Do I Really Need to Assess ALL Of These Vendors?

Some organizations can have hundreds of vendors, and risk assessing all of them can be a battle. You might not have all the resources you need to do a full risk assessment on all of them and frankly - you don't have to. Here are three tips for third party assessments that will help keep you on track for your organization's security and your regulatory visits.

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| Author Ava Lucivero, tagged in Vendor Management, Vendor Risk

ERM is not reactionary: The One Thing You Can Do To Strengthen Your Enterprise Risk Management Program

If you're the Risk Manager at an organization, it's a pretty safe bet that you're feeling like you don't have the resources available to properly secure your organization. You might also feel like it leads you to a reactive management style, pinged by regulators and following up instead of building baked in controls and security.

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| Author Randy Marsicano, tagged in Enterprise Risk Management, Risk Appetite Statement, ERM, Risk Management, Key Risk Indicators

Introducing: WolfPAC Third Party Risk Management

Managing vendors at your organization can feel like herding cats. Every department has vendors that they use for services, and keeping all the contracts, due diligence information, and monitoring activities organized and centralized can feel downright impossible. This doesn't even touch on the often changing regulations you need to understand and adhere to - and determining the standards that will keep your organization both protected and compliant.

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| Author Puja Ghiya, tagged in Vendor Management, Vendor Risk, Due Diligence

Pack Your Bags! User Conference Registration is Open!

Whether you're a museum buff, love a night on the town, or are an adventurous foodie, we know there is so much to gain from a new experience and a little bit of adventure. We also know that time can fly when you're jet-setting, touring, or pulling up anchor - which is why travel is the theme for our 10th annual WolfPAC User Conference! We'll explore the journey of Enterprise Risk Management, including what we've done, what we're doing, and what we have in store to keep you at the forefront of your industry, and strategic within your organization.

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| Author Stephanie Vogel, tagged in WolfPAC User Conference, WolfPAC

What American Banks Need to Know About GDPR

My first impression after hearing about the new European General Data Protection Regulation (GDPR) was that it wouldn’t apply to a US company. Better safe than sorry, I decided to take a few minutes to study it anyway. What I found was that it does establish privacy rights for European Union (EU) residents or visitors, but in some cases can also apply to companies outside of the EU. That applicability is based on the location of the Business Activity, not the home office of the company. This means if you have a branch, or are actively promoting business (i.e. web based) in the EU, GDPR applies to your company for all activity related to EU residents that transaction business in the EU. Conversely, if you do not have a branch, and are not actively promoting business in the EU, GDPR does not apply to your company, even if an EU resident seeks you out for business.

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| Author Randy Marsicano, tagged in

New Compliance Changes in the WolfPAC Software

The WolfPAC Integrated Risk Management suite is designed to align with the changing needs and regulatory guidelines of the financial industry. Part of the way we honor our commitment to streamlining the risk management process and enable risk managers is by keeping our solutions up to date with compliance standards through monthly updates to our assessments and functionalities.

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| Author Cynthia Boehmer, tagged in BSA, RESPA, Compliance Risk Assessment, Regulatory Compliance, Bank Secrecy Act, WolfPAC

Enterprise Risk Management for Credit Unions at the GNECUS

On May 8th, credit unions from all around the region will be coming together at the DCU center in Worcester, MA to attend the Great New England Credit Union Show. This event is an opportunity for professionals working in credit unions to learn more about issues that are important to them, like cybersecurity, member engagement, and Enterprise Risk Management.

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| Author Stephanie Vogel, tagged in Enterprise Risk Management, ERM, WolfPAC

Honored to Be Part of WolfPAC

On this sunny spring morning, I’d like to formally introduce myself to the WolfPAC community. Since I started as the General Manager in November I’ve had the pleasure of meeting some of you and I’m hoping to connect with as many of you as possible during the rest of the year. Whether you are a current client, a partner, or just someone interested in Risk Management, I am excited about the prospect of hearing from you and working with you. I have spent my entire career in a variety of technology companies that have successfully worked with clients of all sizes to improve their operations via software solutions.

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| Author Ron Tache, tagged in WolfPAC

Business Continuity, the Dark Web, and Compliance Risk at NYBA Conference

On May 7th the New York Bankers Association will be hosting the 2018 Technology, Compliance, and Risk Management Forum at the Saratoga Hilton in Saratoga Springs, NY. The two day conference has been created for risk managers, IT managers, and compliance managers that focus on securing their organizations. 

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| Author Stephanie Vogel, tagged in Regulatory Compliance, Cybersecurity, Information Technology, Business Continuity, Business Continuity Planning, IT Risk

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