Considering the myriad of risk factors financial institutions must balance, a well-planned contract management strategy can play a vital role in managing multi-tiered risk.

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The recent fiascos involving Silicon Valley Bank and Signature Bank stunned the finance world, raising questions of economic stability and leadership decisions. As government agencies work through the next steps, business leaders are examining the factors that led to these crises and doubling down on their own risk management processes.

Legal, operations, and risk roles within the financial sector continue to evolve in light of new regulations, emerging technology, and shifting social and political factors. “These professionals must leverage contract data at both an aggregate and granular level to build more effective risk management strategies and remain compliant with internal policies and external regulation,” said Jake Sussman, Chief Operating Officer and Founder at Evisort.

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