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FI Compliance Solutions offers risk-management service
KING OF PRUSSIA, Pa. (6/19/09)--FI Compliance Solutions is offering the newly released GRC Pro Version 2.0, a risk-management service, to financial institutions at no charge for three months. Credit unions and banks can use GRC Pro Version 2.0 to assess their system of internal controls based on the key areas of their Capital Adequacy, Asset Quality, Management and Internal Control, Liquidity and Market Sensitivity (CAMELS) rating. GRC Pro will determine how well credit unions and banks have implemented the safety and soundness standards required by federal agencies and whether related risks have been mitigated, FI said. The solution also offers a proprietary control design evaluation tool. GRC users can generate an executive summary documenting their risk profile, an overall safety and soundness rating, and a detailed report showing risks by severity and category. “One of the main reasons we have so many failures is not due to unnecessary risk-taking but instead a failure to incorporate sound risk-management fundamentals,” said Eric Strohl, president/CEO of FI Compliance Solutions. “Many institutions are operating with policies and procedures that are simply detrimental to the health of the organization.” FI Compliance Solutions provides corporate governance and compliance solutions for financial institutions.


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