Western Independent Bankers introduces Virtual Compliance Management as a Premier Solution Provider June 7, 2017
SAN FRANCISCO, CA (June 7, 2017) — Western Independent Bankers (WIB), the premier trade association for more than 22,000 members and 140 community banks, announced today that Virtual Compliance Management (VCM) has become a Premier Solution Provider of WIB to offer their compliance services to community banks across the Western states and U.S. Territories. Premier Solution Providers support products and services designed to address the unique challenges of community banks, contribute to the financial strength of the institution, and advance sustainability through education and innovation.
With a platform that includes audit services, data validation, compliance consulting, and an online resource portal, VCM delivers the tools necessary to navigate both internal and regulatory demands with confidence and success.
“The old approach to compliance in today’s competitive environment can actually increase your risk,” said James DeFrantz, Principal at VCM. “Our regulators are consultants, giving VCM a unique perspective which we use to enhance existing compliance programs. Our experience and relationship-based approach are what makes us unique.”
“We’re extremely happy to expand our relationship with WIB and its member banks,” said DeFrantz. “We understand the disproportionate and increasing cost of community bank compliance in relation to their bigger bank brethren. We can control compliance costs without increasing risk to help level the playing field. Compliance can actually be a competitive advantage, even opening up new revenue streams and increasing noninterest income.
“If there is artistry in technology and confidence in service, then it’s compliance and risk where banks bear the steadfast promise of diligence,” said Michael Delucchi, President and CEO of Western Independent Bankers. “What the team at VCM delivers to our membership is a comprehensive approach to regulatory expectation that is grounded in practical experience and industry insight. With a methodology that includes direct consulting, speaking at WIB conferences, and engaging in our web-based education series, the relationship between WIB and VCM creates an extraordinary opportunity for member banks to explore compliance management solutions that are tailored to the particular needs of each organization.”
About Western Independent Bankers and WIB Service Corporation
About Virtual Compliance Management
Virtual Compliance Management is a collective of former regulators, compliance officers, internal auditors, and trainers. The consulting firm provides flexible resources for financial institutions, including updating bank policies and procedures, training classes, audits, bank exam preparation, quality control reviews, fintech compliance consulting, and audit remediation. For more information, visit www.vcm4you.com
Senior Vice President Strategic Alliances/CTO