Stunk Is Improving Risk Management And Compliance With Software

In recent years Strunk has gradually expanded their focus to helping clients in all industries improve risk management and compliance processes by using their Risk Management Software.

Stunk’s roots go back to 1976, when they began providing consulting services to banks and credit unions. Since then, Strunk has worked with more than 1,500 clients in all fifty states. Among banks and credit unions, they are best known for compliant fee income improvement programs, including Overdraft Privilege, Rewards Checking and Value Checking. Because risk management and compliance have always been a big part of what Strunk does, in recent years they have gradually expanded their focus to helping clients in all industries improve risk management and compliance processes by using Strunk’s Risk Manager Software.

Strunk’s Risk Manager offers six comprehensive, easy-to-use and affordable compliance management software tools that are useful for clients in any industry:

Risk Assessor helps you prepare comprehensive risk assessments consistent with regulatory or other requirements, in days, not weeks.

Policy Manager organizes all your policies into a single database, mapped to the relevant standards and control procedures.

Controls Manager schedules tests of policy compliance and tracks test results.

Vendor Manager is a specialized tool for managing vendor risk that standardizes risk assessment methodology and organizes all vendor related documentation.

Issues Manager is a centralized database for tracking all compliance issues and incidents across your entire organization.

Skills Manager provides online testing and training to ensure employees are knowledgeable about your policies.

Strunk’s Risk Manager tools are securely and reliably hosted at Amazon AWS, from which they are available on a variety of devices from anywhere. These tools have gotten some great feedback from clients:

“Our policy and control structure is very complex having both a broker/dealer and an investment advisory firm. Policy Manager allows us to easily organize a large volume of policies and maintain our control testing documentation all in one convenient place—a significant improvement over our previous process!” — Laura Hendricks: Woodlands Securities / Woodlands Asset Management

“We currently use Strunk’s Policy Manager to update and track changes to our policies. We like the audit trail it leaves of changes and also the PDF Redline that indicates changes used for the Board to review and approve. Strunk Customer Support has been prompt and they always assist with any issues we might have.” — Karen Lomax, Vice President and CFO Kinetic Credit Union

“Strunk’s program brings efficiency to the process and allows us to focus on areas of high risk. Our team sees great value in the process and reporting generated by the Strunk program. It is an affordable way to manage regulatory required risk assessments.” — Bob Sundquist, CFO/CRO, NebraskaLand National Bank

Strunk’s core customer base has always been smaller and medium-sized organizations and so, unlike most providers, they have priced Risk Manager at a level that is affordable by all. In order to encourage usage, they charge a flat annual fee based on organization size. That fee gets companies unlimited access to the tools for an unlimited number of users, along with unlimited support from for their support team.

Release ID: 88918851