WolfPAC Integrated Risk Management Blog

Does a “Fits and Starts” Culture Drive your Risk Management Program?

| Author
Wolf & Company, P.C.

We’ve all made that contractual purchase - the one where you sign your name to purchase a car and realize you are now confronted with deciding how to use all the new features and functionalities, where to navigate first, or even what errand to accomplish. Signing the contract to license WolfPAC, puts you in a similar driver seat, and empowers you to drive forward with a roadmap to finally complete all those risk assessments using a software package instead of clunky spreadsheets. Receiving a finding on your last exam could make you want to accelerate significantly to complete the outstanding risk assessments in WolfPAC.

A Roadmap for Enterprise Risk Management Software

As WolfPAC's Implementation Manager, I encounter these situations all too frequently and my mission is to help our clients set up and implement the various WolfPAC modules. Depending on the size of the organization, it can seem like a daunting task to risk assess all of the technologies, vendors, regulations and business processes. Through WolfPAC’s onsite implementation program, comprised of optional engagement levels, this trepidation is significantly minimized.

Traditionally, the WolfPAC implementation process consists of training, reviews and guidance from myself and other subject matter experts in the firm. This “unparalleled guidance” approach provides clients with successful implementations. A dedicated risk assessment "champion" already managing the process, can move the team through a reasonable time frame completion.

“Fits and starts” derails risk management

However, in cases where a risk management champion does not exist and risk assessments are worked on intermittently or sporadically, this results in risk assessment owners forgetting how to complete a risk assessment and starting from scratch again. Some degree of consistency may be lost through this “fits and starts” culture and if a looming exam is around the corner, an untenable situation may arise.

Premium Advisory Choice: A Selective Onsite Program at Your Service

The good news is that through the Premium Advisory Choice program, WolfPAC now offers onsite implementation services to help you with the inertia. The WolfPAC implementation team, myself and others, visit clients on site to facilitate risk assessments successfully for most of the WolfPAC modules. We’ve made these formalized onsite packages more attractive by including free board training, free exam preparation and a discount to the annual WolfPAC User Conference.

The Premium Advisory Choice onsite implementation program offers selective levels of engagement designed to help you and your team walk through the risk assessments with a knowledgeable WolfPAC resource. Our goal is not to complete the risk assessments for you, but facilitate, coach and train you and your staff. By the time we leave, your team has the knowledge and confidence to complete the remaining risk assessments, manage the risk and be prepared to defend strategic risk decisions, if needed.

This process works well when there is a number of people that are required to complete risk assessments from the various business lines within the organization. We coordinate with a key person at the client site to line up and schedule the risk assessment owners into slots over two or four days, depending on the implementation package chosen. By the end of the engagement, risk owners feel much more comfortable completing any remaining risk assessments and the organization can move forward.

Our intent through the Premium Advisory Choice program is to provide a clearer vision after the signed contract with a definitive roadmap to onboard your risk management team, so you are not left wondering if the purchase just left you driving around aimlessly.

Please click here to learn more about our WolfPAC's Premium Advisory Choice solution.

TOPICS: ERM Risk Management Information Technology WolfPAC

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