Independent Banker - July 2017 - 57

COMPLIANCE QUESTION?
Given the growing interest in ERM
programs among community banks,
Strunk, a software and consulting fi rm
based in Atlanta, Ga., that helps banks
manage risk, improve profi tability
and grow, launched an ERM software
and consulting solution two years ago
aimed directly at community banks.
" Up until recently, the solutions to the
problem have been really expensive, "
says Strunk CEO Daniel J. Roderick Sr.
Two years on, Strunk has many
community bank ERM clients and
charges based on asset size in addition
to an annual maintenance fee.
" In a way, community
banks and other noncovered
institutions
have the best of both
worlds right now: the
benefi t of the guidance
surrounding ERM
without the regulatory
mandate. "
-AMBER GOODRICH, CSI
Roderick says the average Strunk client
pays about $7,000 per year for its
ERM solution.
In the end, community institutions
that welcome the change in culture
toward an ERM-focused program
" often fi nd that it not only gives a better
holistic view of their organization
and the risk and opportunities that
they are facing, but also it improves
their relationship with their regulators, "
says Goodrich.
" There is no guarantee that
implementing an ERM program will
improve on exam ratings as a whole,
especially since the program still isn't
technically required for community
institutions, but it defi nitely changes
the conversation a bit, " she adds.
" Regulators love to see institutions
take a proactive approach. "
Karen Epper Hoffman is a writer in
Washington state.
ICBA's new Compliance Vault contains 1,500
Q&As, eLearning courses and documents.
Check it out: icba.org/compliancevault
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Independent Banker - July 2017

Table of Contents for the Digital Edition of Independent Banker - July 2017

Table of Contents
Independent Banker - July 2017 - Intro
Independent Banker - July 2017 - Cover1
Independent Banker - July 2017 - Cover2
Independent Banker - July 2017 - Table of Contents
Independent Banker - July 2017 - 2
Independent Banker - July 2017 - 3
Independent Banker - July 2017 - 4
Independent Banker - July 2017 - 5
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Independent Banker - July 2017 - Cover3
Independent Banker - July 2017 - Cover4
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