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Workiva Helps Banks Streamline Risk and Planning ReviewsAMES, Iowa, July 14, 2016 /PRNewswire/ -- Workiva (NYSE:WK), creator of the Wdesk cloud-based productivity platform for enterprises, today announced that several banks, including First Merit Corporation, Umpqua Holdings and Zions Bancorporation, use Wdesk to streamline and automate risk processes and reports to the Federal Reserve Board and the Federal Deposit Insurance Corporation.  "Wdesk has changed the way we create documents and share data with other people," said Miriam Shumway, Financial Writer at Zions. "We are much more efficient in creating and editing documents today." The banks use Wdesk to improve processes, control and collaboration in a variety of risk-related mandates, including Comprehensive Capital Analysis and Reviews (CCAR) and associated Capital Plan Rule reports, Dodd-Frank Annual Stress Testing (DFAST), Recovery and Resolution Plans (RRP), internal enterprise-wide risk assessments and annual proxy statements. CCAR and DFAST are annual capital assessments of U.S. bank holding companies by the Federal Reserve. RRP, or living will, is a complicated plan that outlines how a company will systematically manage its executive and ground-level functioning during and after a period of economic distress. CCAR, DFAST and RRP are intricate processes that often involve dozens of collaborators and tens of thousands of pages.
"We use Wdesk to gather, aggregate and share our data efficiently across many different departments," said Shumway. Zions' process narratives, model documentation, model validation and control data are linked in Wdesk, which automatically updates changes throughout all related numbers and narrative. "Wdesk has eliminated the issue of version control, which has reduced the risk of omitted updates and therefore improved the quality of the regulatory submission." "Our team responsibilities have changed because we now spend much less time dealing with logistics and more time creating better content for management and regulators," said Shumway. "I want to use a stronger word than 'happy' when describing how I feel about Wdesk," added Shumway. "It really has changed our lives." About Workiva Claim not confirmed by FORTUNE or Time Inc. FORTUNE 500 is a registered trademark of Time Inc. and is used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of, Workiva Inc. Contact: Photo - http://photos.prnewswire.com/prnh/20150213/175372LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/workiva-helps-banks-streamline-risk-and-planning-reviews-300298718.html SOURCE Workiva Inc. 
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