|Dallas, TX, June 20, 2017 – Stimulated by breach of fiduciary lawsuits filed against major higher education institutions (“HEI”), Roland|Criss has developed a compliance framework tailored to the 403(b) plan community. The framework consists of over 100 check points and is operational on FiduciaryGRC™, which is Roland|Criss’ cloud based system of internal controls for employee benefit plans qualified under the Employee Retirement Income Security Act (“ERISA”). The HEI version of FiduciaryGRC is now in use by several institutions with more already scheduled for implementation. The introduction of FiduciaryGRC for the HEI market follows the successful launch of FiduciaryGRC in 2016 for commercial and nonprofit healthcare organizations.
Roland|Criss is a leader in governance, risk management, and compliance (“GRC”) systems and consulting for enterprises that serve in a fiduciary capacity for their ERISA retirement and welfare benefit plans. The FiduciaryGRC system offers the tools, ERISA section 3(16) fiduciary acknowledgment, and expert support needed to serve clients of any size, complexity, and industry sector without interfering in an ERISA plan’s existing investment or recordkeeping vendor arrangements.
“Over the past 17 years Roland|Criss has maintained its focus on the need for methods and systems that make compliance with fiduciary laws and stewardship principles easier for executives and managers to administer. We achieved that by leaving investment advisory, recordkeeping, and other ERISA plan related services to vendors that specialize in those areas and focusing on the issues that most frequently trigger fiduciary related fines and litigation. We are excited about our development of a technology solution that lightens the fiduciary burden by ensuring the right things are done the right way,” said Ronald E. Hagan, Chairman of the Board.
Hagan added, “The expansion of FiduciaryGRC into the higher education community comes at a time of significant need for a comprehensive solution to the challenges facing executives who are responsible for their institutions’ risk and compliance programs. We are excited to be the provider of that solution.”
Roland|Criss with its focus on internal controls for ERISA fiduciary organizations has emerged as one of the leading firms in the GRC industry. We seek to create positive risk reduction impact for our client organizations and the best possible outcomes for their employee benefit plan participants. We achieve that with a staff of extraordinary colleagues and a laser focus on best practices, systems, and fiduciary standards of care. The framework for our compliance systems and consulting services adhere to the guidance on enterprise risk management, internal control, and fraud deterrence developed by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Further information is available at www.rolandcriss.com. Follow Roland|Criss on Twitter @RolandCriss.