BOSTON, Jan. 30, 2015 /PRNewswire/ -- WolfPAC Solutions Group, a division of Wolf & Company P.C., today announced the launch of its next generation business continuity planning solution, an integrated online tool designed for financial institutions, businesses, and health care providers. This newest release of the Business Continuity Solution builds on top of the market leading risk assessment and risk management solution. The new Business Continuity Planning (BCP) module integrates with the Business Continuity Risk Assessment and Business Impact Analysis modules and will improve an organization's ability to capture, organize, and centralize the policies and response procedures necessary in the event of a business disruption.
"By working with our client community, WolfPAC continues to invest in our core integrated risk management platform. Our vision and mission remains steadfast to provide contemporary tools and solutions for organizations that must remain vigilant about increased risk exposure and be compliant with heightened regulatory expectations. This upgrade to the Business Continuity Planning module is a testament to this commitment," said Michael Cohn, Member of the Firm and Director of WolfPAC Solutions Group. "These are powerful yet easy to use tools that ensure that the most up-to-date and efficient response plan is in place for any unforeseen business disruption. Like all of the tools offered by WolfPAC Integrated Risk Management, the BCP module will help our clients achieve a better view of the risks throughout their organization and put in place the best solutions to mitigate the risks and document the planned responses."
"With this release we are taking the existing Business Continuity Risk Assessment and BCP module to an entirely new level with significant enhancements in the user experience and the overall functionality with increased integration of these capabilities within the overall risk management platform. Our clients will be delighted with this latest release which brings the Business Continuity Solution that much closer to an institutions' need to better manage enterprise-wide risks in an ever increasing outsourced industry," said Bharat Nair, Director of Product and Technology Strategy at WolfPAC.
The BCP module is a risk based online tool that facilitates easy updates to an organization's policies and procedures to support business continuity plan ensuring it is always current. It provides an easy to use and accurate documentation of recovery points, recovery teams, and recovery times for critical business functions to seamlessly restore business operations in which key people, technology, and processes may become unavailable. This will ensure the business minimizes potential losses and remains in compliance with internal and external regulatory mandates.
"Having an accurate and current business continuity plan in place is a high priority for our institution because it is crucial to ensuring that our branches and operation centers remain in operation servicing our communities if disaster were to strike," said Ms. Meghan Hibner, Vice President, Controller and Investor Relations Officer at Westfield Bank.
When used with the full WolfPAC Integrated Risk Management suite of online tools, the BCP module integrates continuity planning with IT and third party risk management to create a comprehensive view of the needs and risks that can occur during a disruption. The WolfPAC BCP module is available separately or as part the WolfPAC Integrated Risk Management suite of online tools.
About WolfPAC Integrated Risk Management
WolfPAC Integrated Risk Management is a secure, hosted enterprise risk management solution used to automate the identification of risks, threats, and control gaps. Developed by the financial and risk management professionals of Wolf & Company, P.C. in 2004, WolfPAC provides tools to review and monitor information technology, privacy, vendor, regulatory compliance and other enterprise-wide risk assessments and programs. Quarterly methodology updates are designed to align with changing business environments and emerging compliance and examination standards. A robust suite of reports allows management to analyze their control gaps and benchmark risk profiles against peers. WolfPAC is used by hundreds of organizations throughout the country keeping institutions safe and sound, and maximizing the outcome of strategic objectives.
About Wolf & Company, P.C.
Wolf & Company P.C. is in our second century providing assurance, tax, risk management and business consulting services throughout the Northeast. Clients can expect direct involvement from the Firm's owners and responsive service from a multi-disciplinary team. Our collaborative service strategy enables us to develop a deep understanding of clients and their business needs, and to maximize opportunities while navigating any potential obstacles.
Wolf's areas of focus include Financial Institutions, Investment Advisors, Family Businesses, Employee Benefit Plans, Technology Companies and High Net Worth Individuals. The Firm employs over 200 people, and has offices in Boston and Springfield, MA, Albany, NY and Livingston, NJ. Wolf is registered with and inspected by the PCAOB, and is a member of PKF North America, a national and international affiliation of CPA firms.
CONTACT: Bharat Nair
SOURCE Wolf & Company, P.C.