Enterprise-wide risk assessment and vendor management
Redi enhances Jack Henry Banking's existing suite of risk management and protection solutions with the ability to consolidate disparate risk management activities across the entire enterprise into digestible information banks can use to more frequently, accurately, and quickly evaluate their overall operational and financial risks. This solution, available through a strategic partnership with Redi Enterprise Development, Inc., encompasses a comprehensive suite of risk management functions including loan portfolio stress testing, automated loan review, ALLL management, covenant and exception tracking, Purchase Loan Accounting, audit management, policy and procedure management, automated risk assessments, and complete vendor management functionality.
This solution is available to banks automated by the SilverLake System®, CIF 20/20®, and Core Director platforms.
What It Does
- Consolidates disparate risk management activities across the entire enterprise into digestible information.
- Helps banks more frequently, accurately, and quickly evaluate their overall operational and financial risks.
- Encompasses a comprehensive suite of risk management functions including loan portfolio stress testing, automated loan review, ALLL management, audit management, policy and procedure management, automated risk assessments, and complete vendor management.
- Provides a Web-based application designed in Java, and an enterprise risk system delivered completely via Internet Explorer.
- Allows banks to segment loan portfolios to identify potential credit concentrations with no additional codes or file maintenance.
- Sorts system data using a Microsoft SQL Server database.
- Leverages the latest technology in data storage, and can provide detailed trending of banks’ KPIs above and beyond what’s available through the core processing system alone.
- Assists in identifying potential future weaknesses in banks’ portfolio mix and risk appetite.
- Provides a complete application for tracking and evaluating loan review results.
- Provides immediate access to current-day and any prior month-end loan data to give new perspective on credit performance.
- Offers specific risk programs to help regulators as well as product offerings and activities.
- Updates and expands based on the collective knowledge of the entire user base and provides new data for immediate download to help banks aggressively evaluate all possible threats.
What It Does For You
- Significantly reduces risks across the entire enterprise.
- Enables banks to assess risk from any perspective that meets their needs.
- Takes risk assessment and management processes out of three-ring binders and makes them a living part of bank operations.
- Minimizes the implementation impact from an IT standpoint and reduces ongoing support efforts for banks.
- Allows banks to focus more on business, and less on the management of enterprise-wide risk data and activities.
- Helps ensure banks’ long-term success and survival.