CSI Simplifies Enterprise Risk Management with SmartRisk IQ
October 29 2014 - 9:00AM
Business Wire
In order to ensure full compliance with the latest regulatory
requirements, examiners are now demanding that financial
institutions address risk management comprehensively across the
entire institution, instead of managing it through individual
departments. As an answer to the need for Enterprise Risk
Management (ERM) capabilities, Computer Services, Inc. (CSI)
(OTCQX: CSVI), a provider of end-to-end financial technology
solutions, has introduced SmartRisk IQ, which provides financial
services companies with a holistic approach to risk management.
Based on real-time snapshots of a bank’s risk profile
enterprisewide, SmartRisk IQ delivers the tools and insights
necessary for institutions to make confident decisions regarding
effective risk strategies. Users additionally gain access to CSI’s
regulatory experts to help reduce time spent on managing
compliance.
“As regulatory pressure continues to build across the financial
industry, we saw a definite need for a new approach to bank risk
management in order to provide a more complete picture of risk and
how it affects performance,” said Paul Koziarz, president and
general manager of CSI Regulatory Compliance. “With SmartRisk IQ,
financial institutions gain greater insight into their current risk
across the entire institution, empowering them to make more
informed business decisions, engage their management team and
educate their board of directors.”
Through SmartRisk IQ, financial institutions can provide
examiners with proof that their institution is proactively managing
risk by securely collecting, storing, analyzing, scoring and
reporting on risk data, risk direction and mitigation activities.
To help institutions fulfill examiner expectations and best
understand their current risk, SmartRisk IQ measures institutions
against the eight key risk categories outlined by the Office of the
Comptroller of the Currency (OCC), including compliance, credit,
interest rate, liquidity, operational, price, reputation, and
strategic.
Additional benefits of SmartRisk IQ include:
- Quick and easy assessment with
pre-loaded questionnaires and smart content
- Advanced risk calculations to inform
risk decisions
- Simplified storage of attachments and
notes to prove compliance
- In-depth reporting
- Easy sharing of assessments to the
institution’s board
Complementing the industry-leading ERM software, SmartRisk IQ
also provides on-site assistance from CSI’s renowned risk and
compliance experts, who can assist in the initial risk assessments,
as well as complete and monitor established Key Risk Indicators
(KRIs) for each institution’s ERM strategy. CSI’s ERM experts also
will check in with each institution on a regular basis to answer
any risk management-related questions, enabling financial
institutions to reduce time spent on managing compliance.
“The continued introduction of new regulations in the financial
industry has caused compliance pressure to grow exponentially,”
Koziarz said. “Through SmartRisk IQ, we provide a suite of tools
and expert guidance to not only simplify the overall compliance
process, but also enable banks to channel more of their time and
energy into maintaining positive relationships with customers.”
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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