Central Bancompany Selects Wolters Kluwer’s Regulatory Change Management, Risk and Controls Technology

OneSumX solutions essential in helping bank identify evolving
regulations, manage compliance risk

BOSTON–(BUSINESS WIRE)–Central
Bancompany
, headquartered in Jefferson City, Mo., has implemented Wolters
Kluwer’s
regulatory change management offering along with its risk
and controls assessment solution to streamline processes and enhance
compliance risk management and controls among Central Bancompany’s 13
affiliate banks.

OneSumX
for Regulatory Change Management
helps Central Bancompany track
regulatory changes, map them to the appropriate lines of business, and
monitor the implementation of the changes in one system. The solution
features structured regulatory content provided through a data feed and
a software platform that supports regulatory change management. Wolters
Kluwer content experts review and organize important regulatory content
in a way that makes it easy to quickly assess how a change may affect
the bank, which sets it apart from other regulatory change management
platforms.

Central Bancompany is also using OneSumX
Risk and Controls Assessment
, which combines a strong regulatory
framework with organizational controls to create a comprehensive
platform for managing enterprise compliance risk. The solution provides
risk and controls content specifically designed for the financial
services industry that can be used as both a starting point for
assessments and as a benchmark throughout the risk management process.

“As we continue to evolve our compliance management system to fit the
size and complexity of our organization, the necessity to enhance our
second line of defense and change management to become more streamlined,
efficient and structured throughout our organization became apparent,”
said Shannon Thomason, Senior Vice President, Chief Compliance Officer
at Central Bancompany. “Adding these solutions gives us immediate
transparency and connectivity into the array of regulatory rules and
developments impacting our business, and allows us to respond in a
coordinated, compliant manner.”

“These offerings illustrate our longstanding commitment to providing
financial institutions like Central Bancompany with reliable options for
managing their risk and regulatory compliance efforts,” said Chuck Ross,
Vice President, Compliance Program Management for Wolters Kluwer. “Given
the volume, breadth, frequency and depth of regulatory changes facing
banks today, access to automated, up-to-date, and comprehensive content
is critical for keeping pace in today’s ever-changing regulatory
environment.”

Wolters Kluwer Compliance Solutions, part of the company’s Governance,
Risk & Compliance division, is a market leader and trusted provider of
risk management and regulatory compliance solutions and services to U.S.
banks and credit unions, insurers and securities firms. The business
helps these financial institutions efficiently manage compliance
obligations tied to loan and deposit origination transactions and
workflows, manage risk and regulatory compliance challenges, and gain
the insights needed to focus on better serving their customers and
growing their business.

About Wolters Kluwer Governance, Risk & Compliance
Governance,
Risk & Compliance (GRC) is a division of Wolters
Kluwer
, which provides legal and banking professionals with
solutions to ensure compliance with ever-changing regulatory and legal
obligations, manage risk, increase efficiency, and produce better
business outcomes. GRC offers a portfolio of technology-enabled expert
services and solutions focused on legal entity compliance, legal
operations management, banking product compliance, and banking
regulatory compliance.

Wolters Kluwer (AEX: WKL) is a global leader in information services and
solutions for professionals in the health, tax and accounting, risk and
compliance, finance and legal sectors. Wolters Kluwer reported 2018
annual revenues of €4.3 billion. The company, headquartered in Alphen
aan den Rijn, the Netherlands, serves customers in over 180 countries,
maintains operations in over 40 countries and employs 19,000 people
worldwide.

About Central Bancompany
Central Bancompany is a $13
billion, Missouri-based bank holding company with 13 full-service
community banks and more than 230 locations in 66 communities, serving
consumers and businesses in Missouri, Kansas, Illinois, Oklahoma,
Colorado, and North Carolina.

The Central Bancompany family of banks include Central Trust Bank,
Central Bank of Boone County, Central Bank of Lake of the Ozarks,
Central Bank of Moberly, Central Bank of the Ozarks, Central Bank of
Warrensburg, Central Bank of Audrain County, Central Bank of St. Louis,
Jefferson Bank of Missouri, Central Bank of the Midwest, Central Bank of
Oklahoma, Central Bank of Branson, and Central Bank of Sedalia.
Affiliate companies include Central Trust and Investment Company,
Central Technology Services, Central Investment Advisors, HSA Central,
Central Mortgage Services, Mortgage Central, and Central Travel.

Contacts

David Feider
Corporate Communications Manager, Banking & Regulatory
Compliance
Governance, Risk & Compliance Division
Wolters
Kluwer
Tel: +1 612-852-7966
David.feider@wolterskluwer.com
On
Twitter: @davidafeider

error: Content is protected !!