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TMCNet:  SAI Global and ErmsCo Announce Comprehensive Risk Management Solution for Financial Institutions

[November 12, 2012]

SAI Global and ErmsCo Announce Comprehensive Risk Management Solution for Financial Institutions

ALPHARETTA, Ga. --(Business Wire)--

SAI Global Compliance, the world's leading provider of governance, risk and compliance (GRC) products, services and technology, including the Compliance 360® software suite, and ErmsCo, a leading ERM consulting firm specializing in enterprise risk management solutions for banks, today announced the integration of the ErmsCo ERM Foundation and the Compliance 360 GRC platform. The integrated solution provides financial institutions with a comprehensive ERM solution, complete with predefined risks, risk controls, key risk indicators and risk rating methodologies.

An effective ERM program can take thousands of hours to develop and require significant effort to devise a strategic plan, set up organizational structures, identify risks and define effective controls. Due to the difficulties and complexities involved in building a risk management program from the ground up, many financial institutions end up with an ERM program that falls short of the initial objectives and produces a weak risk management practice with an incomplete view of risk exposure.

Automation of the ErmsCo ERM Framework in Compliance 360 enables financial institutions to quickly implement their risk management programs and support them through the automation of enterprise-wide risk assessments. The result allows for the linking of risks to strategic objectives and compliance programs, monitoring risks and managing response strategies. This out-of-the-box risk management solution provides a global view of all risk-related activities through executive dashboards, enabling managers to quickly assess problem areas, proactively adjust processes and track the progress of corrective actions. The integrated solution includes a pre-defined, proven inventory of risk definitions, functional risk controls and risk indicators to enable an institution to manage risks in a proactive, strategic way. The ERM Foundation Library includes more than 500 risks, 1,500 risk controls, key risk indicators and risk rating methodologies.

"Based on more than 30 years of experience and success in defining and implementing risk management programs for banks, we developed the ERM Foundation to specifically address the unique challenges of financial institutions," said John Drew, president and director of ERM services, ErmsCo. "This comprehensive package has been provento save countless hours that are typically spent identifying risks, defining controls and determining risk indicators. The integration of our ERM Foundation content into Compliance 360 yields a solution that is just what banks need: an out-of-the-box implementation with built-in banking expertise and a fully automated system with integrated workflow, proactive alerts and online dashboards for easy monitoring."


"Working with the banking experts at ErmsCo, we discovered that the structure of the pre-defined assets in their ERM Foundation and the design of Compliance 360 were highly compatible," said Steve McGraw, GRC president, SAI (News - Alert) Global Compliance. "Our robust capabilities for consuming and automating regulatory and risk management content enabled us to complete the integration in a matter of days, with no development resources involved. The ErmsCo ERM Foundation provides our financial customers with a robust risk management solution that is pragmatic, flexible and easily tailored to address their unique requirements. As we have been doing for years, the benefits of this integrated solution will accrue to our customers in the form of rapid implementations, long-term flexibility and lasting value. "

About Compliance 360® GRC Software Suite

The original Governance, Risk and Compliance (GRC) software solutions born in the cloud, Compliance 360 brings order and efficiency to the complexity of enterprise governance, risk management, compliance and audit management. The Compliance 360 GRC Software Suite includes regulatory compliance software, policy management software, internal audit software, incident management software, ERM software and a wide variety of specialty applications. More than 250,000 professionals every day in financial services, insurance, healthcare, distribution and other regulated industries rely on Compliance 360 applications to help protect their revenues, reputations and brands. www.compliance360.com

About SAI Global Compliance

SAI Global Compliance provides organizations with a wide range of governance, risk and compliance (GRC) products, solutions and services that help build organizational integrity and meet overall business objectives. With more than 25 years experience and offices in more than 25 countries, SAI Global's solutions include a wide range of GRC products and services, including the Compliance 360 GRC Software Suite, best practice Code of Conduct program services and training, compliance and ethics training and awareness, risk and culture assessments, a full range of advisory services, whistleblowing hotline services, regulatory knowledge, policy management, case management and third-party compliance management, including automated due diligence workflow and management. www.saiglobal.com/compliance

About ErmsCo

ErmsCo is a consulting and advisory firm that focuses on assisting financial institutions with optimizing their enterprise risk management practices. Our mission is to help our clients manage risk in a proactive and cost-effective manner. Using proven methods and solutions to achieve targeted results, ErmsCo consistently delivers outstanding value to our clients.

The ErmsCo team includes experienced banking professionals with strong expertise in lending and credit risk management. Our professionals fully understand the challenges that bankers face with managing risk and we approach each client with careful consideration of the demands on time, resources, and pressures bankers face to deliver results. For more information, visit www.ermsco.com


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