SOURCE: Wolf & Company

October 31, 2011 10:00 ET

As the Need for Enterprise Risk Assessment Grows in Financial Institutions, WolfPAC® Announces Endorsement by Third Major Banking Association

Virginia Bankers Association Joins California and Connecticut Bankers Associations in Endorsing WolfPAC Integrated Risk Management®

BOSTON, MA--(Marketwire - Oct 31, 2011) - Wolf & Company P.C., a leading CPA and business consulting firm, announced that the firm's online risk assessment solution WolfPAC Integrated Risk Management® was endorsed as a strategic vendor by the Virginia Bankers Association. This follows on WolfPAC's endorsement by the California and Connecticut Bankers Associations.

"Enterprise risk assessment and creating comprehensive risk management plans is more important than ever for the financial well-being of community-based financial institutions," said Michael Cohn, Director of the WolfPAC Solutions group of Wolf. "We know that providing this integrated online suite of sophisticated tools, backed by skilled experts who are available anytime, offers financial institutions a huge advantage in the current market by allowing them to fully understand their risk while working to achieve business goals."

WolfPAC Integrated Risk Management is an online suite of services developed by the risk management experts at Wolf & Company, a Boston-based CPA firm with more than 100 years of experience working with financial institutions. The leadership team at Wolf has a significant tenure and knowledge of the banking industry, and the high quality technical skills that allow them to meet the enterprise risk management needs of all financial institutions.

"The Virginia Bankers Association is excited to endorse WolfPAC Integrated Risk Management." said John Bowers, Director of Member Services at the VBA. "WolfPAC is a cost-effective tool for our member banks' executive management and boards to measure and monitor risks, and communicate to regulators in the post Dodd-Frank era."

WolfPAC's Virginia and Mid-Atlantic clients are served by WolfPAC channel partner Witt Mares, PLC. Additionally, WolfPAC successfully works with other channel partners such as The Navis Group and Practical Security Solutions LLC to help financial institutions achieve operational efficiencies and overcome challenges associated with risk management.

WolfPAC channel partners are carefully selected based on their tenure and experience in IT audit, internal audit, regulatory compliance and other risk management services. Becoming a WolfPAC channel partner allows these firms to expand their portfolio of services by bringing the industry's leading risk management and assessment tools to their clients.

WolfPAC helps community banks and credit unions improve operational efficiency by automating and analyzing risk and controls for IT, privacy, vendor, regulatory compliance, and other operational risk assessments into a single integrated service. The ability to create a centralized view of the institution's operations lowers costs by providing management with a valuable understanding of their risk profile and aligning current resources with existing budgets.

About WolfPAC Integrated Risk Management®

WolfPAC Integrated Risk Management® (http://www.wolfpacsolutions.com) is a secure, web-based enterprise risk management solution used to automate the identification of risks, threats, and control gaps. WolfPAC® keeps institutions safe and sound, and maximizes the outcomes of strategic initiatives. Developed by financial professionals in 2004, who were among the first to understand enterprise-wide risk assessment and implement risk management programs, WolfPAC provides tools to review and monitor information technology, privacy, vendor, compliance, and other enterprise-wide risk assessments. Quarterly methodology updates are designed to align with emerging compliance and examination standards. A robust suite of reports allows an institution's management to analyze their control gaps in relation to known threats, align with the institution's strategic objectives, and benchmark risk profiles against peers.

About Wolf & Company, P.C.

Wolf & Company (http://www.wolfandco.com) is entering our second century providing assurance, tax, risk management and business consulting services throughout the Northeast. Clients can expect direct involvement from the Firm's owners and senior management, and responsive service from a multi-disciplinary team. Our collaborative service strategy enables us to develop a deep understanding of clients and their business needs, and to maximize opportunities while navigating any potential obstacles.

Wolf's areas of focus include Financial Institutions, Investment Advisors, Family Businesses, Employee Benefit Plans, Technology Companies and High Net Worth Individuals. The Firm employs over 175 professionals, and has offices in Boston and Springfield, MA and Albany, NY. Wolf is registered with and inspected by the PCAOB, and is a member of PKF North America, a national and international affiliation of CPA firms.

Contact Information

  • CONTACT:
    Joseph M. Romanello
    October 24, 2011
    WolfPAC® National Sales Director
    (617) 261-8195
    Email Contact