Case Study: Bangor Savings Bank achieves faster ERM reporting and stronger risk-owner collaboration with Resolver

How Bangor Savings Bank Used Resolver to Improve ERM Process Efficiency & Collaboration with Risk Owners

Bangor Savings Bank, a $4 billion savings and mortgage bank headquartered in Bangor, Maine, led by Theresa Cody, faced an efficiency challenge in its ERM program. Their Excel-based process made it difficult to prove COSO controls, crosslink controls to risks and activities, automate follow-up with risk owners, and produce timely high-level summaries for auditors and the board.

By implementing Resolver, the bank moved to near-real-time assessments, automated control-to-risk crosslinking and follow-up, and consolidated audit, incident and compliance tracking. Board reporting that once took 10–16 hours can now be produced with a click (saving up to five weeks per year), COSO is managed quarterly, collaboration with about 20 business-line managers has improved, and the team has clearer, auditable visibility into findings and remediation speed.

Bangor Savings Bank

Theresa Cody

Director of Enterprise Risk Services