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Compliance Risk Concepts Introduces Enterprise Risk Management Practice

via Business Wire

The new vertical elevates CRC’s services for regional and community banks and credit unions ahead of upcoming changes from Regulators

Compliance Risk Concepts (CRC), an enterprise risk and compliance partner for financial services organizations, has introduced a dedicated Enterprise Risk Management practice for Financial Institutions. The vertical is an extension of the services CRC already offers to regional and community banks and credit unions, and is particularly timely, as these institutions anticipate new guidelines for board governance and risk management. Under the leadership of founder and CEO Mitch Avnet, the vertical will offer more comprehensive and tailored solutions to this client set.

“The demand for our enterprise risk management services is expected to be exceptionally strong, driven by the anticipated regulatory shifts and heightened focus on smaller financial institutions,” said Mitch Avnet, founder and CEO of CRC. “We’ve seen several headline cases in the last year where smaller, specialized banks faced unprecedented challenges. We are in a position to meet the surge in demand, offering clients specialized support to educate and navigate these complex changes.”

Avnet will tap his team of over 50 risk and compliance professionals to support the offering, which is designed to tackle the critical issues of regulatory and operational risk identification and mitigation for clients. Rooted in a proactive approach to identifying and addressing shortfalls in Governance, Risk, and Compliance (GRC) programs, this vertical equips financial institutions with the tools and strategies necessary to prevent adversarial relationships with regulators, ensuring a more stable and compliant operational framework.

"In light of the proposed guidelines by the FDIC, it is absolutely crucial for financial institutions of all sizes, particularly regional and community banks to understand what’s at stake,” said Michael Durette, Chief Revenue Officer of CRC. “By conducting a thorough gap analysis, these entities can craft a clear roadmap to align their corporate governance and risk management frameworks with the FDIC’s expectations. With the FDIC set on strict enforcement of these guidelines and considering the potential penalties for non-compliance, this proactive measure is important for navigating the complexities of the regulatory landscape effectively."

CRC anticipates a significant demand for this support and plans to increase its employee headcount of experienced risk and compliance professionals to meet industry needs. As regional and community banks and credit unions plan their approach to meeting new regulatory requirements, CRC published a whitepaper on enterprise risk management, providing in-depth analysis and actionable insights for navigating the evolving regulatory landscape. It is available for download here.

About Compliance Risk Concepts

CRC is a business-focused team of senior risk and compliance consultants and executives who furnish top-tier risk and compliance advisory services to clients on an as-needed, project or part-time basis. We provide our clients with the critical skills and expertise required to establish, maintain and enhance a balanced and effective compliance operational risk management program. We help organizations demonstrate a commitment to a strong risk management culture. We bring a unique tailored approach to help our clients succeed in today’s challenging regulatory and economic environment, enabling and empowering our clients to manage the “cost of compliance” without sacrificing the necessary infrastructure and control environment. For more information, visit https://compliance-risk.com/.

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