- Corporate Security
- Governance, Risk and Compliance
- Information Security
Version control, hundreds of tabs, 1000s of cells, and not to mention the inevitable crash. We’ve all experienced the pain of Excel and sometimes it feels like we don’t have any other options.
That’s no longer the case for Resolver customer, Vision Credit Union.
Vision Credit Union relies on Resolver software to enable their risk team to drive user adoption, share data more effectively, streamline operations and provide more actionable insights throughout their organization.
The risk team at Vision Credit Union know that ERM is more than a checkbox exercise to satisfy management and board members, but they were struggling to find a way to prove the value of their efforts. Their goal was to create a company-wide risk culture that makes risk an innate part of decision-making across all teams. If the team is thinking about risk and the controls behind it, they will understand and appreciate the value of the ERM program.
“Resolver was able to transform the way we looked at ERM. Our program seemed like a watered-down version of what it was supposed to be. We used Excel, met with risk owners and conducted quarterly risk assessments. Because Resolver software is so flexible, we were able to visualize how we wanted ERM to function and then configure the solution to help us accomplish that. We recreated everything from the ground up and refined our process.”
Resolver has helped the risk team at Vision Credit Union to prove the value of their ERM program. With a robust dashboard that identifies risk, controls, KPIs, loss events and more, risk owners are able to view dependencies and understand how each risk and its associated controls impact different functions across the organization. It has also simplified the risk assessment process immensely. Before Resolver, a risk owner had to be involved in the entire process – from start to finish. But now, they are only tasked with the one control that is their responsibility.
Like most financial institutions, Vision Credit Union is highly regulated and is constantly asked by regulators how they are tracking their ERM program. Managing this in Excel is time consuming, error-prone and inefficient.
After weeks and sometimes months of collecting information, by the time you produce a quarterly risk report, the information that you’re presenting might already be outdated – especially when it comes to critical risks. With Resolver software, real-time risk management enables your team to make decisions based on cold hard facts that not only impact the business, but impress the board.