Enterprise Risk Management (ERM)
The formal view of risk from an enterprise level has roots that date back to 2001. Historically, the bottom-up approach by department has led to natural silos within large organizations. The reality of new emerging risks has created a rapidly changing market, economic and regulatory environment that requires a new way of looking at ERM. The old way is no longer good enough. A strategic approach to ERM will transform the view of how risk management operates in this new world. When done successfully, ERM can become the driver of business growth, strategic value and competitive advantage. Does your view of risk and the approach to mitigation align with the overall strategy of your company? If it does not, then you are missing the ability to proactively identify, understand and manage your risks so you can get back to growing again.
If you know us well, you won’t be surprised to hear that we believe that ERM has been made too complex. Executive teams and Boards must have a holistic view of the key risks their company faces. Through implementing consistent terminology and managing risks strategically, clarity can be discovered. We believe that you can only consider risk at an enterprise level to the extent to which risk has context. Risk gains context when viewed through the lens of your corporate strategy and your risk appetite. This view adds clarity and clarity is a CRO’s best friend.
CRO’s who look to Cypress Resources to help them design their ERM program achieve alignment with their risk appetite and strategy. This allows for focus to be taken off of reactive risk management and to be applied to growing your target customer base. Simply stated, we’ll help build an ERM program that identifies, assesses and mitigates the risks identified within the boundaries of your institution’s risk appetite. This allows for enhanced focus on your target customers, expedited responses, and a true cross-departmental view of centralized risks, allowing the intentional deployment of resources and capital to prioritized risks. Through understanding the alignment of your risk appetite with your ERM strategy for mitigation, your new view of risk management has known boundaries. Risks that fall outside of these boundaries are viewed as exceptions to the institution’s business model and require Board approval. Our approach is bold and unique, but too many companies simply adopt ERM terminology, consolidate various presentations, form department heads and consider this macro view as somehow sufficient in addressing mitigating enterprise risk. We believe the ultimate risk to the enterprise is just too great to take any other approach; every effort must be tied back to strategy and your risk appetite.
Bank Secrecy Act (BSA) / Anti-Money Laundering (AML)
The regulatory and operating environment around BSA/AML activities is one of constant change. So much so, that implementing an effective strategy has become increasingly difficult for BSA/AML executives. In fact, many banks are already feeling growth constraints related to BSA/AML programs. But just as the C-Suite often seeks outside help to develop overall corporate strategy, BSA/AML executives need a partner to help develop a specific program strategy. To answer that need, Cypress Resources has developed an approach that enables these key executives to view their functions and activities through a thoughtful, strategic lens, rather than simply reacting to the latest rules or current crises.
BSA/AML executives who partner with Cypress Resources understand and embrace strategy, and lead change more effectively. By leveraging our approach, we help create consistency and focus. With strategy in sight, we assist them in determining how to achieve and measure success. This unique approach embraces the fact that banking anyone that walks in the door is simply too risky, and is no longer an acceptable standard. Regulators expect your BSA/AML program to proactively identify, classify and mitigate threats, while still allowing for strategic growth.
Our outside perspective and unique approach to developing a strategic BSA/AML program brings disciplined solutions to old problems. We systematically execute a plan that will build goal-achieving momentum for you and your organization.
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