GRC Software for Credit Unions

More than just GRC software, Quantivate’s integrated framework and services work the way you do, empowering your credit union to manage governance, risk, and compliance in one seamless and scalable system.

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What is GRC, and why is it important for credit unions?

Compliance costs are skyrocketing for credit unions, increasing strategic risk and reducing service quality for members. To offset these challenges, credit unions need a comprehensive solution for managing and monitoring their risk and compliance programs.

GRC — shorthand for governance, risk, and compliance — is a framework that encompasses the policies, processes, and capabilities that organizations develop to:

MONITOR & MITIGATE RISKS

ALIGN POLICIES & PROCESSES TO ORGANIZATIONAL GOALS

TRACK REGULATORY CHANGE & VERIFY COMPLIANCE

An effective GRC framework enables enterprise-wide coordination in the following areas:

GOVERNANCE:

Ensuring your credit union’s activities are aligned with strategic objectives; encompasses the processes, policies, and structures implemented to communicate, manage, and monitor organizational activities

RISK MANAGEMENT:

Developing sustainable processes for:

1) addressing potential risks and threats,

2) developing and maintaining controls to mitigate those risks, and

JUMP TO SECTION:

‣ Why Implement a GRC Program?

‣ Quantivate + CUNA

‣ CUNA Compliance Management

‣ Other GRC Management Tools

3) providing reasonable assurance that significant risks are managed in accordance with relevant and documented policies; encompasses risk identification, measurement, assessment, mitigation, retention, monitoring, and reporting

COMPLIANCE:

Conforming with laws, rules, regulations, prescribed practices, internal policies and procedures, or ethical standards

Quantivate GRC Software for Credit Unions Datasheet

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Why implement a GRC program?

Within those categories, a GRC program typically covers activities like enterprise risk management, vendor and third-party risk management, business continuity management and planning, IT risk management, audit management, compliance management, and policy management. The ultimate outcome of an integrated approach to GRC, however, goes beyond just improving risk and compliance management. The result of integrating and centralizing GRC activities — fewer data silos, greater risk awareness, better cross-functional communication — equips credit unions to meet organizational goals, improve efficiency and performance, and engage in strategic decision-making.

MEET ORGANIZATIONAL GOALS

IMPROVE PERFORMANCE

EMPOWER STRATEGIC
DECISION-MAKING

Learn more about the benefits of GRC for credit unions

Quantivate + CUNA =
Compliance Management Simplified

Credit unions now have access to Quantivate’s industry-leading technology with CUNA Compliance Management Systems.

Credit Union Compliance Management System™, offered as a benefit of CUNA and league membership, provides a strong foundation for starting a compliance management program, managing regulatory change, and/or automating manual compliance processes.

For credit unions seeking more robust functionality or to mature their compliance management program with a full-featured solution, Credit Union Compliance Management System PLUS™ is a ready-to-use platform for centralizing compliance and policy management tasks.

Interested in learning more?

Visit CUNA's website for more information about compliance management systems for credit unions.

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Credit Union Compliance Management System PLUS includes all the features of the membership benefit level plus additional functionality and content. It also provides the best path to implementing other GRC software from Quantivate as your credit union matures its risk and compliance management capabilities. The compliance and policy/document management features included in Credit Union Compliance Management System PLUS integrate seamlessly with Quantivate’s full suite of GRC solutions, which includes software for enterprise risk management, vendor management, business continuity, IT risk management, and more.

See Other GRC Management Tools to learn more.

Other GRC Management Tools

To fully leverage GRC as a strategic advantage, credit unions need to consider their ability to integrate and centralize management activities. Why? An integrated, technology-enabled approach to GRC:

Equips leadership with the data and insights needed to make informed, risk-based decisions that align with organizational objectives
Unlocks powerful data-sharing and automation that reduces duplication and breaks down silos
Creates a centralized hub for task management, data and documentation, assessment, and reporting

RISK & COMPLIANCE INTEGRATION

These benefits are only possible when credit unions have a single system and consistent processes for uniting their GRC data, procedures, and task management.

Quantivate’s platform provides built-in integration between all software products, which means that processes, controls, action items, laws and regulations, and other data points can flow between user groups in your organization. This flexible data architecture enables:

Data-sharing between business units and departments
Greater risk and compliance oversight and governance visibility
Security and access controls
Automated workflows
Configurable reports and analytics

EXPLORE THE FULL QUANTIVATE GRC SOFTWARE SUITE:

Used separately or in combination, each software module features centralized processes and data storage, task management, and flexible workflows to enhance visibility and reduce the time and money spent on management solutions. Users that implement multiple products unlock deeper integration and the potential for greater efficiency and agility.