Properly done, Bank ERM enables risk management efficiencies, strategic planning improvements, and an avenue to improved coordination, communication and relationships with bank constituents (board members, regulators, etc.).
Too often, though, well-intentioned bank ERM initiatives either fail outright or become time sinks while resources get caught up trying to launch ERM from scratch without guidance and / or co-opt over-wrought, audit-oriented tools and methodologies that are appropriate for SOX and financials but wholly unsuited to ERM.
That's why we have developed a different way — a streamlined ERM solution created for bankers by bankers. Our Executive Risk Management Analytics (ERMA) does not require adding resources on your end. You can focus your energies reviewing and interacting with your ERMA results via a web-based dashboard, and we'll do the heavy lifting behind the scenes: scoring a standardized banking risk inventory through the use of advanced analytics, extensive document review, and, only after those activities are complete, targeted interviews with key management.
The result is a living-and-breathing document which we collaboratively maintain and update in concert with your strategic plan, management response plans on “high-high” risks, and regular updates to your key business and governance documents.