Abound Resources acquires risk management software from Sheshunoff
Austin, TX, Jul 10, 2012 – Sheshunoff Consulting + Solutions and Abound Resources, both leading bank consulting firms, have announced the transfer of Sheshunoff’s suite of Risk Management Software products to Abound Resources.
The joint announcement was made by Gabrielle Sheshunoff CEO of Sheshunoff Consulting + Solutions and Brad Smith, President and CEO of Abound Resources.
Gabrielle Sheshunoff stated “the transfer of these products to Abound Resources is part of a strategic plan to streamline the services that Sheshunoff Consulting + Solutions offer to the banking market. This allows Sheshunoff to be focused on our other services including Affiliation, Investment Banking, Loan Review, Internal Audit, Regulatory Compliance, and Webinar training.”
Ms. Sheshunoff also noted that, “the selection of Abound Resources as our transition partner was based on a careful analysis of potential firms serving the financial services industry. “Based on the fit of our services with theirs and their track record of outstanding client service, we felt that Abound was our best choice to ensure continued high levels of service and the best path to a seamless transition for our bank and credit union clients.”
In the joint statement, Brad Smith stated, “We are extremely pleased to be able to acquire the leading online Enterprise Risk Management system (ERM) designed specifically for the community bank and credit union market. The increasingly complex regulatory environment coupled with the regulatory focus on ERM has driven the need for community banks, regional banks and credit unions to automate their ERM processes. The bRisk suite combines compliance best practices for BSA, Fact Act, SOX, FDICIA, vendor management, business continuity planning and internal audit with automated risk assessments, controls and reporting to provide a comprehensive solution for bank and credit union compliance - all at a price point that fits a community institution compliance budget.”
“To ensure a seamless transition of current clients with projects underway we have also added some of their key personnel to our staff,” noted Mr. Smith. “Specifically, Todd Stringer will lead our Information Security Practice and Steve Carroll, who was instrumental in developing the Business Continuity component of the bRisk solutions, will lead our Business Continuity Planning Practice.”
Mr. Smith added “Abound Resources is also a particularly good fit to assume Sheshunoff’s Bank Technology Planning and Core System Evaluation business having completed more than 500 similar projects with banks and credit unions in 47 states.”
Both Ms. Sheshunoff and Mr. Smith emphasized a primary objective in the transition is to maintain the high levels of client service and project delivery which clients of both companies have come to expect.
About Sheshunoff Consulting + Solutions: For over 30 years, Sheshunoff Consulting + Solutions has been a leading financial services industry consulting firm. SCS offers its financial industry customers risk management, executive development programs and investment banking services. Sheshunoff is a trusted advisor to the banking industry, providing institutions with the tools they need to manage risk, maximize technology, and meet regulatory requirements. For more information, visit www.smslp.com.
About Abound Resources: With clients in 47 states and the only firm to offer an unconditional money back guarantee, Abound Resources has quickly grown to one of the largest credit union and bank consulting firms in the country. Abound’s consultants in its seven practice areas – Strategic Planning, Technology, Risk and Compliance, Operations and Payments, Loan Process, Sales and Marketing, and Small Business and Cash Management – have been helping community banks and credit unions achieve its goals since 1997. For more information, visit http://aboundresources.com/