ViClarity Enhances GRC Technology Offering with Integrated Consulting Services

August 2, 2021

AdVisor consulting solutions available for credit union governance, risk and compliance (GRC) teams

To ensure credit unions realize the greatest value from its proprietary GRC technology solution, ViClarity is adding a suite of integrated consulting services called AdVisor. GRC technology users will now have access to a collection of services, including advanced onboarding and on-demand access to compliance experts. 

AdVisor combines ViClarity GRC technology with the compliance support services enjoyed by long-time credit union clients of ViClarity, formerly PolicyWorks, LLC. Clients submit one-off federal compliance questions, seamlessly within the platform, and receive a response from a ViClarity consultant. Submitting questions directly within the platform enables answers to be archived and/or shared with other ViClarity users within the credit union. 

AdVisor clients can also choose a package level that allows them to assign tasks, such as document reviews, to a ViClarity consultant, further integrating ViClarity expertise with the GRC technology.  

In addition, clients may enhance their experience with Advanced Onboarding. The service, executed at the outset of the technology implementation phase, includes a review of the credit union’s compliance content, policies and procedures before the content is uploaded to the ViClarity GRC solution. ViClarity consultants also analyze the credit union’s GRC processes to look for opportunities to have strategic conversations around best practices. 

“AdVisor services are about bringing people, processes and technology together to further enhance a credit union’s governance, risk and compliance functions,” said Jeremy Smith, ViClarity director of client partnerships. “Automation has proven to be a tremendous boost across credit union operations, but there remains a strong need for human analysis in many of those areas, including GRC. For credit unions heading into a post-pandemic regulatory environment and working to meet accelerating member demand for digital experiences, efficiency has to be balanced with expertise.” 

One credit union striking that exact balance is the $1 billion SESLOC Federal Credit Union in San Luis Obispo, Calif. The 56,000-member credit union expanded its products and services during COVID-19 to help members navigate a variety of economic stressors. The increased need for rapid compliance reviews and risk assessments accelerated SESLOC’s GRC teams’ need to automate manual tasks. SESLOC’s Irene Shippee, vice president, compliance, does not anticipate the pace of innovation slowing anytime soon.  

According to Shippee, the combination of technology and consultative expertise helps credit unions respond quickly and within budget to questions from across the enterprise. “Being able to reach out to ViClarity’s staff when I’m building a checklist or workflow addresses a significant pain point,” she said. “It’s difficult, not to mention time-consuming, to digest a 1,000-page regulation and come away with a clear answer on exactly what’s required, let alone a best practice. We can read articles, but they don’t get as granular as we need. We can consult an attorney, but that can be costly. ViClarity AdVisor services are tailored right to what credit unions need, and they don’t come with a hefty price tag.”

Credit unions interested in learning more about ViClarity GRC and the AdVisor suite of consulting services are encouraged to visit viclarity.com.