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ProNexus Saves Client Money During Merger Integration Due To IT Assessment

 

Client: Large Private Commercial Bank

Requirement: Consulting & Interim Management Services: IT Assessment & Interim Compliance Officer

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Business Situation:

The client announced that it was to be acquired by another bank and had experienced turnover in several key positions, including VP of Information Systems and Compliance Officer.

This Information Systems lead was one of the only people in the organization who was extremely knowledgeable of their Operational Systems and was their lead Administrator/Troubleshooter for their Jack Henry 20/20 software. In addition, they were expecting a full safety and soundness OCC exam within the next week and wanted to be sure that the OCC knew they were taking it seriously.

ProNexus Solution:

Initially, the client was interested in engaging ProNexus for a Jack Henry 20/20 expert which would have cost them an exuberant amount of money. ProNexus suggested an IT Assessment to determine what the true need was. As a result of the assessment, it was determined the client could use their existing service contract for Jack Henry issues, and what they really needed was an outsourced Help Desk and Network Monitoring solution. ProNexus assisted the client with choosing the vendor, as well as overseeing the department with a Part-Time CIO solution for the conversion and general IT management issues as they arise.

ProNexus also provided an Interim Compliance Officer to ensure the client was on track for the upcoming OCC exam and for review and implementation of any new regulations that may come up. ProNexus provided a consultant with over 20 years of experience in the Credit Union industry to help close the gap left by the Compliance Officer. We will continue to provide policy and regulatory review and training until the merger is complete.

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