Following Increased Regulatory Focus, CSI Aims to “Banish the Separative Approach to Risk Management”

In the wake of the fallout from the recent U.S. financial crisis as well as rising cybersecurity threats, regulators and examiners have significantly increased their focus on strategic risk management within today’s financial institutions. Many banks now face the need to reconsider, and even overhaul, their risk management practices to more effectively address this additional scrutiny.

To adequately support the changing landscape of the financial industry, regulators generally encourage Enterprise Risk Management (ERM), which assesses a bank’s risk areas as interactive parts of a solid whole, with each affecting the other.

At a late 2012 seminar held by the Office of the Comptroller of the Currency (OCC), Deputy Comptroller for Operational Risk Carolyn G. DuChene stated, “Sound management of risk across the enterprise and good capital planning enhance the banks’ ability to be competitive and continue servicing the needs of their customers and communities, and it ensures ongoing viability during difficult economic times.”

While some of the country’s largest banks have already adopted the practice, many financial institutions are lagging behind the curve. In an effort to promote ERM as a strategic risk management practice, Computer Services, Inc. (CSI) (OTCQX: CSVI) has published a new white paper, “Banish the Separative Approach to Risk Management,” exploring the value that financial institutions can gain from ERM implementation.

“The biggest obstacle financial institutions face in implementing an ERM program is the cultural shift of transitioning from a siloed approach to a more proactive, holistic approach when managing risks,” said Keith Monson, vice president of application compliance for CSI. “Banks that welcome the cultural change will find that ERM improves their relationship with regulators and informs their decision making.”

Additional key areas highlighted within the white paper include:

Reaching examiners, boards of directors and bank managers;
Areas of strength/room for growth;
Overcoming obstacles to establish ERM;
Evaluation of ERM needs; and
Execution of an ERM plan.

To download a complimentary copy of CSI’s latest white paper related to ERM, please visit the following: www.csiweb.com/seeitall.

About Computer Services, Inc.

Computer Services, Inc. (CSI) delivers core processing, managed services, mobile and Internet solutions, payments processing, print and electronic distribution, and regulatory compliance solutions to financial institutions and corporate customers across the nation. Exceptional service, dynamic solutions and superior results are the foundation of CSI’s reputation and have resulted in the company’s inclusion in such top industry-wide rankings as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global Managed Service Providers List. CSI’s stock is traded on OTCQX under the symbol CSVI. For more information about CSI, visit www.csiweb.com.

For CSIBrandon Dyce, 615-545-1675orDavid Jones, 678-781-7238orStephen Sprayberry, 678-781-7207

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