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.

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.

The NCUA recently held a webinar (recording available until March 7, 2019) to outline the new exam approach, and what credit unions should expect. The NCUA has released the Automated Cybersecurity Examination Tool (ACET) to aid examiners in the complex world of cybersecurity risks and controls.

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.

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.

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.

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.

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. 

On May 2nd, the Virginia Bankers Association will be hosting the VBA Protect event at the Williamsburg Lodge in Colonial Williamsburg, VA. The three day conference will be filled with Enterprise Risk Management topics split into four main tracks:

• ERM
• Operations and Technology Risk
• Security
• Compliance

This conference is specifically geared toward bank security, compliance, ERM, operations, and technology professionals that could benefit from industry leading experts sharing best practices from the industry.

Mike Cohn, Director of WolfPAC Integrated Risk Management will be speaking on Wednesday, May 2nd at 1pm. His session, "ERM's Role in the 3 Lines of Defense" will help outline the ways that your branch managers, risk officers, and board have an impact on your risk management program, and how to utilize your assessment results to inform activities each of the three lines of defense will perform. 

WolfPAC is also proud to be sponsoring the VBA Protect event! If you would like to learn more about the agenda, location, or how to register, head over to the VBA Protect event page. 

Not going to make it to Williamsburg? We can still answer any questions you might have about your risk management program and how to strengthen your organization and meet your strategic goals. Contact us to get a free consultation with one of our experts!

On April 18th, the Financial Managers Society will be hosting their NY/NJ Chapter Half-Day Seminar with New Jersey Bankers. The event will be held in Hackensack, NJ.