AUSTIN, Texas, May 15 /PRNewswire/ -- Sheshunoff Information Services, a division of Thomson Financial's Banking, Insurance & E-Commerce group, has launched Compliance Risk Monitor for Credit Unions (http://www.cucompliancerisk.com/). Compliance Risk Monitor is a Web-based, turnkey tool for credit union compliance officers designed to automate the two most time-consuming aspects of this job: monitoring and implementing regulatory changes and creating an internal compliance program.

"The credit union industry is highly regulated and staying on top of these constantly changing regulations is extremely time-consuming, especially for the compliance officer," says Andrew Popper, director of new product development for Sheshunoff Information Services. "Compliance Risk Monitor for Credit Unions is unlike any other product offered to this market because it takes full advantage of the Internet to bring all the information, tools, and expert guidance right to the compliance officer's desktop."

Sheshunoff has partnered with RSM McGladrey, Inc., the nation's leading compliance and audit consulting firm for credit unions, to author Compliance Risk Monitor for Credit Unions. RSM McGladrey (http://www.rsmmcgladrey.com/) serves more than 1,200 financial institutions across the country, providing the insight of 320 experienced professionals to the financial services industry. "By harnessing the power of the Internet, we are able to bring expert guidance to credit union compliance officers 24/7," says author and RSM McGladrey managing director, Matt Schriner. "If a compliance officer has a question, they can email it to McGladrey and they will receive an answer within a few hours during a normal business day. This is like having a private consultant on your staff at all times."

To help compliance officers address these two distinct, yet interrelated job functions, Compliance Risk Monitor for Credit Unions provides two components: Regulatory Response Alert and Control and Audit Manager. Together, these two modules provide a complete regulatory monitoring tool for compliance professionals, taking full advantage of the timely and interactive features of the Internet.

Regulatory Response Alert provides instant access to new or changing regulations and an assortment of customizable tools, including:

• A regulatory alert service with e-mail notification of changing regulations
• An interpretation and analysis of how the regulation impacts credit unions
• A sample interoffice memo describing the regulation to the credit union staff
• Sample internal questionnaires needed to implement the regulation
• Audit checklists to confirm that the credit union is in compliance

Control and Audit Manager provides the tools credit unions need to comply with current regulations by self-assessing and self-correcting compliance violations. Each month, Control and Audit Manager focuses on a current topic of interest to NCUA examiners, such as privacy protections, RESPA Section 8, or EFTA compliance. Online resources include:

• Links to each regulatory agency's version of the regulation
• A compliance monitoring checklist.
• An internal control questionnaire
• Access to McGladrey consultants to discuss the topic
• An online discussion forum to discuss compliance experiences with your peers
• A monthly wrap-up summary and conclusions from McGladrey experts

"This is a truly innovative product," says Judith L. Ryser, director of credit union and government publications, Sheshunoff Information Services. "The combination of McGladrey experts and the power of the Internet makes this an essential tool that all credit unions can use, regardless of size, to make sure they are in compliance."

Compliance Risk Monitor for Credit Unions is available from Sheshunoff for $595-$1,295 for a year subscription, based on institution asset size. For more information, or to order, call 1-888-403-7027 or log on to http://www.cucompliancerisk.com/.

Sheshunoff Information Services, a division of Thomson Financial's Banking, Insurance & E-Commerce Group, is the leading provider of professional publications and information services for the credit union industry. With over 50 products and services for credit union professionals, including web-based services, CD-ROMs, training products, manuals, and newsletters, including NAFCU's Electronic Compliance Library CD-ROM and Credit Union Manager's Desk Reference, Sheshunoff provides analysis and guidance for all functional areas within the credit union. For more information, visit Sheshunoff's Web site at http://www.sheshunoff.com/.

Thomson Financial's Banking, Insurance & E-Commerce Group comprises Sheshunoff Information Services, American Banker, Faulkner & Gray, Thomson Financial Publishing, EC Media Group, and Thomson Financial Insurance Solutions. The group helps more than 750,000 clients worldwide monitor industry information; expedite payments processing; reduce risk and comply with federal regulation; streamline research and analysis; and enhance e-commerce. For more information, visit Thomson's Web site at http://www.TheBankingChannel.com/.

Thomson Financial is a US$2 billion provider of e-information and integrated work solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (TSE: TOC), a leading, global e-information and solutions company with annual revenues of approximately US$6.0 billion. The Corporation's common shares are listed on the Toronto and London stock exchanges. For more information on Thomson Financial, visit http://www.thomsonfinancial.com/.

SOURCE: Sheshunoff Information Services

WEB SITE: http://www.sheshunoff.com/

CO: Sheshunoff Information Services; RSM McGladrey; Thomson Financial