Financial Institution Products Corp. (FIPCO) Endorses WolfPAC®
June 27, 2012
Wolf & Company, P.C. ("Wolf"), a leading CPA and business consulting firm announced today that they have received the endorsement by FIPCO®, a wholly owned subsidiary of the Wisconsin Bankers Association (WBA), of the company’s online enterprise risk management solution, WolfPAC Integrated Risk Management® ("WolfPAC®"). WolfPAC helps banks automate and analyze their risk and controls for IT, privacy, vendor, regulatory compliance and other operational risk assessments, and view centralized results across the enterprise.
"We are very pleased to welcome WolfPAC as our newest strategic partner," said Pamela J. Kelly, President of FIPCO. "Their risk management solution was developed by professionals who understand the banking industry and understand the importance of offering products that will help our members improve their operational efficiency. The way WolfPAC® modules integrate allows our members to design audit plans that give them a holistic view of their risks and achieve compliance, without wasting valuable resources."
FIPCO represents the banking industry in the State of Wisconsin and serves as the voice of its members in matters of common interest. By receiving their endorsement, WolfPAC will become a member of a select group of preferred providers chosen by the WBA to service the needs of its bank membership.
WolfPAC gives banks the ability to customize their own risk evaluation and management solution by selecting the modules that specifically meet their needs. This suite of modules has proven to be a cost effective tool to centralize what had been the difficult and unwieldy process of gathering and evaluating a host of risk factors.
The FIPCO endorsement includes all the WolfPAC Integrated Risk Management modules, as listed below:
- Information Technology Risk Assessment
- Customer Information Risk Assessment
- Regulatory Compliance Risk Assessment
- Vendor Risk Assessment
- Financial Reporting Controls Assessment
- Business Continuity Risk Assessment
- Operational Risk Assessment
- Enterprise Risk Assessment
- Audit Plan
- Business Continuity Plan
- Control Remediation Plan
- Enterprise Risk Management Plan
- Incident Response Plan
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. WolfPAC® keeps institutions safe and sound, and maximizes the outcomes of strategic initiatives. Developed by financial professionals in 2004, who were among the first to understand enterprise-wide risk assessment and implement risk management programs, WolfPAC provides tools to review and monitor information technology, privacy, vendor, compliance, and other enterprise-wide risk assessments. Quarterly methodology updates are designed to align with emerging compliance and examination standards. A robust suite of reports allows an institution's management to analyze their control gaps in relation to known threats, align with the institution's strategic objectives, and benchmark risk profiles against peers. WolfPAC is used by over 120 financial institutions in 20 states.
About Wolf & Company, P.C.
Wolf & Company, P.C. (http://www.wolfandco.com) Wolf & Company's financial institution practice is one of the largest in the Northeast, providing assurance, tax, risk management, and business consulting services to more than 200 institutions. With a century of experience in financial institutions, we pride ourselves on unparalleled client service that includes direct involvement from our senior management combined with responsive service from our multi-disciplinary team. Our clients represent financial institutions from denovo community banks to large regional institutions facing unprecedented regulatory scrutiny. Through our collaborative service strategy, we understand our clients' challenges and opportunities and work with them to achieve their business goals while navigating potential obstacles.
About Financial Institution Products Corporation
FIPCO (http://www.fipco.com) helps financial institutions stay compliant in a fast-changing regulatory environment. Our form sets are regarded as the industry standard, and FIPCO loan, mortgage and deposit software solutions are developed and supported with the same meticulous approach to compliance. FIPCO, a WBA subsidiary, also offers valuable consulting services, including risk management and IT auditing.