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Session Description:
Banking
is a risky business – but the familiar
kinds of risk – credit risk from bad
loans and operations risk from faulty
systems, are yesterday’s news. Today,
the most difficult and frustrating
problem in the risk arena is regulatory
and compliance risk. Make a bad loan and
you might lose your bonus; fail at
compliance and get a cease-and-desist
order, and you’ll probably lose your
job.
Who hasn’t heard of “the burden of
regulatory compliance?” It’s real, and
it’s not going away. In the past two
decades or so, the U.S. government has
issued more than 114,000 new regulations
that affect the way business is
conducted. Compliance with those
regulations costs businesses an
aggregate sum exceeding $1 trillion –
yes, TRILLION. And there’s no segment of
the economy that is more regulated than
financial services.
Like it or not, bankers are draftees in
the war on terror and auxiliary
policemen in enforcing privacy mandates.
The Patriot Act, FFIEC, the Bank Secrecy
Act, FISMA, CSIP, Gramm-Leach-Bliley…these
and many others are the battles you must
fight. There’s no choice in the matter.
Fortunately, there’s no need to fight
today’s regulatory and compliance
battles with yesterday’s equipment:
printed manuals, manila folders, manual
spreadsheets, and Xerox copiers. New
weapons have emerged. Governance, risk,
and compliance (GRC) platforms can align
the bank’s people, processes and
policies, save enormous amounts of time
and money, and introduce operating
efficiencies that bring distinct
competitive advantage. Tom Grubb, vice
president at compliance solutions
pioneer Polivec, explains how.
This session is appropriate for senior
financial services executives with
responsibility for Regulatory issues,
Compliance, GRC Technology, Market
Research and Strategy Teams.
About Thomas Grubb:
Thomas Grubb has over 15 years
experience in marketing and sales in the
technology industry. Formerly, he was
VP of Marketing at Vormetric, a leader
in enterprise data security software.
Prior to Vormetric, Grubb held senior
marketing positions at Intuit,
Embarcadero Technologies, and co-founder
of Bluecurve, a developer of systems
management software that was acquired by
Red Hat.
Mr. Grubb holds a B.S. in Business from
Eastern Illinois University.
About Polivec:
Polivec is the first company to provide
an integrated, corporate-wide, software
suite for Governance, Risk Management
and Compliance (GRC) solutions for all
industries. This is in direct response
to the complex and growing regulatory
burden being imposed on businesses. By
providing an end-to-end business process
for governance, Polivec enables
corporations to manage risk, reduce
cost, minimize complexity and protect
their current investments.
Polivec is distinct in the marketplace
because it is the only company that has
taken a fresh approach in addressing the
extremely complex and costly governance
issue. Polivec has started with an
enterprise perspective - a "view from
the top" of the organization, comparable
to the view of a senior corporate risk,
compliance or security officer. The most
heavily regulated industries, such as
financial services, healthcare, energy,
and insurance, are among the first
adopters of the Polivec Solution.
www.Polivec.com
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