Like many financial institutions, Cornerstone Bank in West Union, West Virginia, was using a risk management program built on spreadsheets and managing risk by individual categories. But the bank, after experiencing significant growth in rapidly changing banking and regulatory environments, realized the need to shift its risk perspective. “Cornerstone engages in a wide range of activities, all of which give rise to some level of risk,” says Lorraine Brisell, president and CEO. “The constantly changing banking, economic and cultural landscapes in which we operate resulted in the need for us to adopt a comprehensive risk management program. If we are going to attain our strategic initiatives—which require us to respond proactively to changing conditions—then we need to manage risks o

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