Eastern Bank

Integrated risk management supports business strategy at Eastern Bank


Founded in 1818, Boston-based Eastern Bank is America’s oldest and largest mutual bank, with over $11 billion in assets and more than 110 locations.

Industry:
Financial Services

Products:
RSA Archer® Suite

Read the case study

Challenges

The bank envisioned an integrated, enterprise-wide approach to risk management in the context of business strategy, but was limited by siloed operations.

  • Non-centralized document management and reporting hindered compliance efforts.
  • Inconsistent taxonomies and views of risk across operations constrained attempts at risk assessment.
  • Many risk management solutions dictated strategies to follow rather than supporting the bank’s.

Solutions

RSA provides a multi-faceted, integrated solution to simplify compliance, streamline processes and centralize risk management.

  • RSA Archer Suite enables centralized inventorying and management of documents, processes and other components to support business strategy.
  • A common taxonomy and consistent language facilitate a shared understanding of risk.
  • The RSA Archer Enterprise & Operational Risk Management, RSA Archer Audit Management and RSA IT & Security Risk Management use cases address multiple areas of risk from a single platform

Results

By bringing a centralized, consolidated approach to risk management to Eastern Bank, RSA Archer Suite has enabled improvements including faster, more efficient audit and compliance documentation and reporting; the ability to confidently assess risk before starting projects; and the flexibility to quickly adapt to changing regulations and dynamic business priorities.

With RSA Archer Suite, we now have the ability to assess risk across the entire bank from a centralized vantage point.

Martha Dean
President and Director of Operational Risk and Information Security

Eastern Bank
Eastern Bank
Recommended for you