Product Overview
Safety and Soundness, what does it really mean to you and your institution? Being
“safe and sound” means your institution will be healthy, stable, and competitive.
As a Director or Officer your job is to limit and control risks while ensuring your
institution’s business objectives are being met.
To assess your institution’s safety and soundness,
you must consider all compliance and operational matters as well as the institution’s
financial condition. This requires that you establish policies to set your institutions
risk limits, govern its operations and safeguard its assets. It also requires that
you periodically check the institution’s performance to ensure policies are being
followed and achieving desired results.
But what happens when an event, whether internal or external, impacts your institution’s
ability to meet those objectives? Believe it or not, an internal control failure
at the policy level is the number one reason an exam or audit finding occurs. Ultimately,
those failures could have an adverse effect on your overall safety & soundness rating
and could expose your institution to unnecessary risk. So how can you prevent those
failures from occurring? The answer is simple…preventative maintenance or a health
check with GRC Pro.
 GRC
Pro is a web-based Governance, Risk Management, and Compliance solution designed
to help community banks and credit unions build and maintain a safe and sound banking
environment. It provides an easy and effective way to evaluate your entire institution
against industry standards and best practices. Think of it like an enterprise-wide
“stress test” without the headaches of having to answer hundreds of questions or
be interviewed by an external consultant.
GRC Pro contains 5 key features; assessment, evaluation, remediation, compliance,
and support. To learn more about each feature, click on the tabs along the top of
the product page.
So what’s next? Click on the tabs to learn more about GRC Pro and how it can help
your institution remain healthy, stable, and competitive. Or, just
Request a Live Demo.Enterprise-Risk Assessment
Standards play an important role in every industry but none more crucial than banking.
GRC Pro’s enterprise-wide risk assessment is designed to evaluate your entire institution
against the FFIEC’s safety and soundness standards and related risks.
The assessment covers 20 different modules from capital adequacy and asset quality
to information technology, e-banking, and AML/BSA. Safety & Soundness starts at
the top and this assessment provides the board and senior management with an independent
view and overall health check of your institution. Reports and dashboards show strengths
and weaknesses by functional area and risk category so you’ll know exactly where
internal efforts need to be focused.
Benefits:
- Operations are safe and sound
- Risk management systems are effective
- Board supervision and oversight is active
- Enterprise-risk requirements are satisfied
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Next Step... Request a Live Demo
Policy and Control Evaluation
All institutions are required to review and update their policies every year. But
how do you know if your policies are designed properly, operationally effective,
and meeting
your business objectives? In other words, are they tested and validated to ensure
compliance with internal policies, laws, and regulations? The policy and control
assessment is designed to do just that. GRC Pro will also evaluate each policy against
11 key criteria to ensure your policies are fundamentally sound, protecting your
assets, and meeting your business objectives.
Each policy is evaluated and given an overall score. Control deficiencies within
each policy are identified by area so policy owners can understand where their policies
need work and where operational improvements need to be made.
Benefits:
- Policies are tested to ensure compliance with laws and regulations
- Business objectives are being met and policies are operationally effective
- Management controls are protecting the Institution’s assets
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Next Step... Request a Live Demo
Remediation Toolkit
It’s a common occurrence that many business line owners or internal auditors have
their own way of correcting a deficiency. Usually it’s through a spreadsheet or
word document with many different methodologies.
The remediation toolkit provides your institution with the tools to standardize
remediation activities across the board. Everyone follows the same process to determine
what caused the deficiency, what affect it will have on the institution, and what
controls need to be implemented to prevent it from happening again. It doesn’t matter
whether the findings come from your assessments or from an internal audit or exam,
GRC Pro handles them all.
Built-in intelligence will help you make decisions based on your risk tolerance,
budget and sensitivity to certain types of risk. GRC Pro will also run a simulation
that will help you determine what items to remediate first that will have the biggest
impact on lowering your risk profile.
Benefits:
- Standardized remediation process across all business lines
- Centralized location to track and report exam or audit findings
- Reduced risk profile
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Next Step... Request a Live Demo
All the compliance tools you will ever need!
Let’s face it; keeping up with existing regulations is a challenge, not to mention
new laws and regulations coming with the Dodd-Frank Act. The burden on institutions
will only grow, draining resources and adding costs to your bottom-line.
How Does Your Compliance Solution Stack Up Against GRC
Pro?
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GRC Pro is here to help, acting as a force multiplier, providing everyone in your
institution with access to compliance resources and industry experts at the click
of a button. GRC Pro will keep you up to date with the latest regulatory requirements
and provide you with an analysis on the best way to incorporate those changes. Your
staff will also have unlimited 24x7 access to our compliance knowledge base, training
program, compliance calendar, newsletters, and webinars on regulatory and compliance
topics.
Additionally, you can submit compliance related questions, advertisements, and policies
to be reviewed by our compliance experts. Looking for a policy to address a specific
compliance or regulatory issue? No problem, if it’s not part of our library we will
create one for you.
Here’s the best part – you don’t have to purchase additional apps, or user licenses.
All of these compliance resources are available to everyone within your institution
at no additional cost.
Next Step... Request a Live Demo
Implementation Support & Advisory Services
Customer service and support are the foundation of our business. All clients are
assigned a dedicated implementation specialist and a senior business advisor to
ensure your project stays on track and deadlines are met. Additionally, your advisor
will review all completed assessments, evaluations, and remediation activities providing
feedback and recommendations to all personnel involved in the process.
Next Step... Request a Live Demo
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