Member Profile: Risk Priorities

Member Name: Risk Priorities Inc.

City: Cleveland and New York City

Industry: RegTech

What We Do:

We develop SaaS that provide financial institutions the ability to coordinate and manage regulatory examination activity.

What’s a Trend You’re Seeing/Prediction for the Future:

Financial service institutions are heavily regulated. We predict that these firms will be highly scrutinized by regulators from the fallout of the COVID-19 pandemic, e.g. losses due to delinquencies, business continuity planning, and cybersecurity infrastructure to support remote workforces.

A Problem/Challenge We Are Working To Solve:

Regulatory exam activity, even for large financial institutions with significant resources, is highly manual and relies on outdated and impractical technologies (e.g. Sharepoint sites, local drives, and spreadsheets). Exam activity is fluid and continuous. The challenge is to develop a solution that consolidates all exam activity to provide transparency across the organization and is customizable for institutions in different industries such as banking, asset management and insurance.

Company Slogan:

Take control of regulation.

Why is Ohio is a great place to do business?

Ohio is uniquely positioned in the financial service industry. Ohio has three large banking institutions and is the home of Nationwide and Root insurance. Consequently, Ohio is an attractive destination for talented individuals seeking employment in the industry with a much lower cost of living compared to New York or even Charlotte. So, there are a lot of really smart people with diverse knowledge and experience to employ or collaborate.

Connect with Risk Priorities on LinkedIn or their website https://riskpriorities.com/.