“By replacing spreadsheets with Resolver, we gained the ability to aggregate this information, without giving up sleep or our lives to do so,” says Pam.
When Street Capital first approached Resolver, their goal was to be able to present the state of compliance risk to the board and senior management, with assurance that the data being presented was accurate and complete.
“The data we get out of Resolver allows me to demonstrate where we are compliant, where we are not, and for the areas that we are not, we can clearly show why,” states Pam. “You would need 50 spreadsheets and 30,000 VLOOKUP’s to get all that information and present it using Excel spreadsheets. With Resolver, I can say in real time how many controls exist where the control owner has said that the inherent risks have been accepted—and that it has been accepted for compliance. For all those controls, I know the inherent and residual risk.”
“I love to bring order out of the chaos,” says Pam. “Resolver gave us the power to design an automated process where there was once chaos.” By automating Street Capital Bank’s compliance process with workflow and email notifications, Pam no longer has to spend her time checking in with control owners and following up on action items. Instead, she can spend that time more strategically by looking for ways to improve the compliance at Street Capital Bank.