WARRENTON, Va., April 30, 2013 /PRNewswire/ -- Fauquier Bankshares, Inc. (Nasdaq: FBSS) - The Fauquier Bank is pleased to announce that they have been awarded the 2013 Ventana Research Leadership Award for the Governance, Risk and Compliance (GRC) category. This award recognizes an individual, team or department that has best demonstrated exemplary leadership and management in the areas of governance, risk and compliance. The GRC category includes evaluation of an organization's use of information and technology across finance, operations and IT to meet the requirements of GRC.
The Ventana Research Leadership Awards recognize organizations and supporting technology vendors that have effectively achieved superior results through using people, processes, information and technology while applying best practices within business operations and technology categories.
The Fauquier Bank's leadership and management initiative arose from the implementation of data software issued by the company, Datawatch Corporation. This software enables critical information to be shared with multiple departments within the Bank. The initiative has impacted the Bank's ability to access reliable data quickly – allowing all areas of the Bank to analyze critical data more efficiently in order to immediately make decisions that impact the Bank and customers.
According to Chip Register, SVP/CIO of The Fauquier Bank, "Properly maintaining and managing data is key to creating information which provides TFB associates and customers pertinent financial guidance. Information governance, both a framework and philosophy, utilizes resources provided by Datawatch to ensure TFB's ability to convert data into actionable information and thereby make available enhanced services to the Bank's customers."
Sarah Bernardi, Director of Marketing Communications of Datawatch Corporation, said "The Fauquier Bank is a great example of how looking critically at current technology and business process - along with a little hard work - can lead to improving efficiencies across an organization. The deployment of a solution that makes information more accessible for use across the organization to improve these processes and offer broader analytical capabilities is critical to a successfully run business - and Fauquier is well on their way!"
Fauquier Bankshares, Inc. and its principal subsidiary, The Fauquier Bank, had combined assets of $601.4 million and total shareholders' equity of $47.7 million at December 31, 2012. The Fauquier Bank is an independent, locally-owned, community bank offering a full range of financial services, including internet banking, commercial, retail, insurance, wealth management, and financial planning services through ten banking offices throughout Fauquier and Prince William Counties in Virginia. Additional information is available at www.fauquierbank.com or by calling: (800) 638-3798.