Crowe IRM-as-a-Service
A faster path to integrated risk management (IRM) for banks, credit unions, and fintechs.
Risk and compliance can enable growth and speed, not just check the boxes.
Every bank, credit union, and fintech is in a battle for customers. The winners either launch new products faster, become more aggressive with mergers and acquisitions, or move quickly to develop new markets, channels, and partnerships.
High-performing firms have risk and compliance teams that take a seat at the table and play a strategic role. Once risk and compliance plugs into growth and strategy, the business gains the confidence to act with speed.
The process starts with getting the first line and second line on the same page.
Risk and compliance teams need to grow risk confidence exponentially without inflating costs. To accomplish this goal, they need to start speaking the business team’s language.
With spreadsheets and point solutions, risk and compliance never sees a view of risks and controls that makes sense to the business team. Without a common perspective, communications between the two lines break down. The first line hits the gas while the second line pumps the brakes, and neither line understands what the other is doing or why.
The right platform can finally bring your two lines together and get them working in harmony, but only if it’s designed for your industry and with your needs in mind.
For many banking risk and compliance programs, the generic GRC path falls short.
Despite all the investment in GRC tools and technology, most banks, credit unions, and fintechs aren’t making real progress toward integrated risk management. Meanwhile, the promise of a platform that can enable truly integrated risk management has stayed continually out of reach.
Here’s why the usual GRC approach fails:
- You have too many independent tools and silos
- Generic tools don’t have the content you need
- You invest heavily in tech and still spend lots of time on consultants and content
- Underlying problems never get solved and carry over from tool to tool
Crowe IRM-as-a-Service is the move-in-ready platform for banking risk and compliance programs.
A ready-to-use platform for banks, credit unions, and fintechs
Generic GRC platforms are like model houses. They look great when you tour them, but if you sign on and buy, you get an empty space that requires a lot more investment before you’re happy with it. Crowe IRM-as-a-Service comes populated with the content you need, so it’s like a fully furnished home — you may want to make changes over time, but it’s ready for you to move in on day one.
Right-sized for the needs of small and mid-sized banks
When you implement a GRC system, it’s easy to go down the rabbit hole and overengineer until your ROI disappears. We designed Crowe IRM-as-a-Service based around the use cases that small and mid-sized banks need, and we know how to set up each use case in a practical way to meet the spirit and objectives of guidance without going overboard.
Business-oriented risk views get lines of defense on the same page
With intuitive, business-oriented views and organization options, risk and compliance can view risks and controls in terms of products, services, and business processes. When you work with the first line, your team can single out the relevant risks and controls and frame them in a context that both lines understand.
Fast onboarding with no extensive customization
Crowe IRM-as-a-Service is a fully hosted and managed platform that’s ready for you to adopt without a long customization process. We’ll get your platform up and running with the content you need so that you’ll see the benefit in weeks, not months or years.
Access to Crowe risk specialists to augment your capacity
If you don’t have the resources you need, you can tag us in and expand your capacity with a few simple clicks in your Crowe IRM-as-a-Service platform. You get a deep bench of dedicated risk management professionals, available at any time to help with activities including:
- Risk assessment
- Monitoring and testing
- Third-party risk management
- Internal auditing
Crowe IRM-as-a-Service creates a central hub where banking risk and compliance work gets done.
Crowe IRM-as-a-Service not only gives you a platform but provides everything you need to adopt it right away. The platform is completely hosted, so there’s no need to focus on running it. And the content and workflows you need come preloaded.
Crowe IRM-as-a-Service includes the functionality that’s foundational to integrated risk management:
Need an easy starting point? Crowe Risk Curator can jump-start you on the path to risk management maturity.
Crowe Risk Curator creates an easy way to identify business-relevant standards, risks, and controls. You can use it to gather a working library of GRC content in a matter of days.
Typical scenarios where you need to curate risk and control content:
Build out a risk and control library
Get immediate content that’s relevant to lines of business, products, and processes.
Benchmark risks and controls
Compare your content to industry standards.
Enable “what if” risk planning
Anticipate risk for new initiatives like product launches and mergers.
Build out a risk and control library
Get immediate content that’s relevant to lines of business, products, and processes.
Benchmark risks and controls
Compare your content to industry standards.
Enable “what if” risk planning
Anticipate risk for new initiatives like product launches and mergers.
Identify post-merger risk
Assess risk and create controls in response to a merger or acquisition.
Assess risk at all levels
Map business processes to products, lines of business, risks, and controls.
Identify post-merger risk
Assess risk and create controls in response to a merger or acquisition.
Assess risk at all levels
Map business processes to products, lines of business, risks, and controls.
Schedule a consultation and demo
Scaling risk and compliance is hard when you’re being asked to do more with less.
We’re here to make it easier.
We know risk and compliance can be a thankless job, even though it’s critical to the health and survival of your institution. We’re here to help you get back to work that adds value to your first line of defense while keeping your organization and customers out of harm's way.
Get in touch with us and let us show you how affordable and practical the path to integrated risk management can be.
