SOURCE: Wolf & Company, P.C.

Wolf & Company, P.C.

August 06, 2012 14:32 ET

WolfPAC Integrated Risk Management to Hold Webinar on Enterprise Risk Management for Community-Based Financial Institutions

Webinar Will Provide Best Practices, Strategies, and a Different, More Effective Approach to Enterprise Risk Management

BOSTON, MA--(Marketwire - Aug 6, 2012) - WolfPAC Integrated Risk Management®, the leading experts in enterprise risk management, will be holding an important webinar on enterprise risk management that will include best practices and information for community-based financial institutions. The webinar comes at a crucial time as community-based financial institutions begin to embrace enterprise risk management to improve their bottom line, operate more efficiently, and prepare for increasing regulations focused on risk management practices that were alluded to in recent comments by the Comptroller of the Currency.

"Community financial institutions can significantly reduce their rising operating costs, boost their bottom line, and survive in an increasingly competitive environment by implementing an effective enterprise risk management program as soon as possible," said Michael Cohn, director of WolfPAC and frequent speaker on enterprise risk management. "An effective enterprise risk management program breaks down silos and brings the risks facing the financial institution into better view where they can be measured, weighed, and addressed in the most cost effective way possible. Achieving this will change the very nature of how a financial institution operates, competes, and retains more revenue."

The WolfPAC webinar titled, "Measuring Your Risk DNA and the Role of the Chief Risk Officer"  will be held on August 8th from 2:00 PM to 3:00PM ET. It will be led by WolfPAC Solutions Director Michael Cohn. To register, click here or go to wolfpacsolutions.com.

The webinar will be informative and instructive and provide best practices on enterprise risk management. Some of the areas to be covered are:

  • Why community-based financial institutions need to practice enterprise risk management
  • How to develop risk management programs through a phased approach
  • How to measure the cost of enterprise risk management and adjust allocation of resources
  • How to define and improve the interaction between the chief risk officer and the internal auditor
  • Why utilizing a bottom-up approach to enterprise risk management is more effective at breaking down silos than the top-down model that is being used today

Michael Cohn and his team provide enterprise-wide risk assessment and risk management solutions to community-based financial institutions nationwide. An expert on ERM, Cohn routinely speaks on the topic before financial institution professionals nationwide and challenges many pre-conceptions held about enterprise risk management while presenting practical approaches for community-based institutions. Using his experience working with banks across the country, Cohn presents best practices on breaking down silos and building up better management models through ERM. 

He recently published a whitepaper with the Financial Managers Society on ERM as well as articles in major banking association magazines. With more than 25 years in the banking and technology industries, he has extensive experience with technology strategy and management issues, enterprise risk management programs, and board governance design.

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. Developed by financial professionals in 2004, WolfPAC® provides tools to review and monitor information technology, privacy, vendor, and other enterprise-wide risk assessments. Quarterly methodology updates are designed to align with changing business environments and emerging compliance and examination standards. A robust suite of reports allows management to analyze their control gaps and benchmark risk profiles against peers. WolfPAC keeps institutions safe and sound, and maximizes the outcome of strategic objectives.

About Wolf & Company, P.C.
Wolf & Company 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, Educational Institutions, Technology Companies and High Net Worth Individuals. The Firm employs over 175 people, 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

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