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IT Security Knowledge
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IT Regulation Understanding
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Automation
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TRAC
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Welcome to the future of Risk Management!
Say goodbye to the era of working long days on your bank’s Risk Assessment and Information Security Policies just to end up with more documents that you’re not sure will pass regulator requirements. SBS has taken their extensive knowledge of IT security in community banking and their understanding of IT examination requirements to develop an automated Risk Assessment tool--Technology Risk Assessment Calculator (TRAC). With TRAC, a bank can easily produce a customized IT Risk Assessment and their Information Security Program (ISP) without any of the guesswork.
SBS created TRAC to assist community banks in overcoming a number of issues with current risk management practices. Some of these issues are:
- little guidance is given on the risk assessment process
- the current process is very manual
- the current process is time consuming
- current processes can cost a lot of money
- you do not know if your risk assessment is correct when you are finished
- the risk assessment does not drive your ISP
- the risk assessment is only done to appease regulators
- the risk assessment does not drive any value to the bank
TRAC is the answer to every one of these issues. When a bank uses TRAC, they will have a cost-effective, automated way to perform Risk Assessments and develop their ISP that they can be confident is correct. Banks will no longer be doing risk management only to appease regulators; they will also be adding value to their bank by being able to make informed decisions about their banks use of technology.
To learn more about TRAC and how you can use it to effectively manage your bank's risk, contact SBS under the Contacts page.