We LOVE to show off our software and how it helps increase profitability and streamline the compliance/risk management process.
Maximize program performance and ensure compliance with our flagship service and hosted software application. We are committed to your ODP program’s on-going success.
Our solution allows you to deploy a tool to all of your lenders so that they are armed to price loans profitably based on your target profitability objectives.
Automated tools for organizations to assess existing compliance according to regulator-driven risk assessment frameworks, establish and maintain policies and track periodic internal testing.
You need to improve NIM
Most community FIs overprice the best, most profitable customers and underprice the smallest, least profitable customers.
Your current process sucks
In traditional situations, organizations have to deal with hundreds of policy documents spread across different computers and file systems. Managing these collections of miscellaneous documents, including tracking responsibility, changes and approvals, can be a major headache.
Version control is a headache
With hundreds of policies residing on different computers and file systems, figuring out which is the latest, approved version can be confusing.
Collaborating is hard
Policy management is usually shared across many different departments. Passing traditional documents back and forth via email, or even via a shared file folder, is error-prone and inefficient.
Pricing is a challenge
Do you know the profitability of your commercial customer relationships? If not, Strunk can help. Our Pricing Manager solution provides a robust relationship profitability feature. Easily determine the profitability of each customer and then make future pricing decisions based on that knowledge.
Not sure program is effective
The whole point of policy management is ensuring your organization has policies that appropriately address risk—and that you actually follow those policies. Once an organization gets to a certain size it can be difficult for senior leadership to monitor the effectiveness of the program confidently and to demonstrate its effectiveness to outside stakeholders.
Not sure staff is on board
Can you demonstrate to senior management and outside stakeholders that your organization’s employees are knowledgeable about your policies?
Audits are a pain
With traditional situations, it can take many man hours of organization time to produce documents and answer auditor questions so they can complete their work.
Liquidity is a concern
Liquidity, which only several months back was far from a consideration, is now becoming a concern for many community FIs. Only 12-18 months ago pricing wasn’t a particularly complex equation for many community FIs given the economic environment at the time. But that has changed dramatically. Has your approach to pricing?
Risk assessments are laborious
Senior leaders and outside stakeholders want proof that the organization has assessed the risks it faces systematically. These assessments can include hundreds of questions and take weeks to complete.
Vendor review is bureaucratic
Documenting your program for assessing and monitoring critical external vendors is often time-consuming and error-prone.
Remedy worse than problem
There are GRC software solutions out there, but they suffer from two problems. One, they are so expensive you could never convince management to put them in the budget and, two, they are so complicated you would have to hire additional staff to make them work.
An independent certified public accountant has examined Strunk’s operations and found them to be in compliance with the AICPA’s Trust Service Principles. It was determined that Strunk meets the Security, Availability, Processing Integrity, Confidentiality, and Privacy criteria for SOC 2 established by the AICPA.
