CASE STUDY

Eastern Bank Uses Archer to Drive Business
Processes and Streamline Compliance®

Approaching its 200th year in business, Eastern Bank is the largest and oldest mutualbank in the United States. It offers banking services, investments and insurance from morethan 120 locations spread throughout eastern Massachusetts and southern New Hampshire.
Eastern Bank prides itself on working hard to understand its customers’ needs so it candeliver these services in a committed and personal way. The bank recently passed thesignificant milestone of having more than ten billion dollars of assets under management.

Customer Profile

Focusing on Risk, Compliance and a Fresh Start
Prior to passing the prized ten-billion-dollar mark, the bank took the opportunity torenew its focus on enterprise risk management. With an emphasis on financial services
regulatory expectations, Eastern Bank launched a project to identify and deploy a solution
to centrally manage documents. An additional imperative was to be able to expedite
the creation of reports related to the Financial Modernization Act—also known as
the Gramm-Leach- Bliley Act (GLBA)—a law requiring financial institutions to make theirinformation-sharing practices available publicly and to safeguard sensitive customer data.
Tasked with leading the initiative, Martha Dean, senior vice president and directorof operational risk and information security at Eastern Bank, turned to the Archer
Suite. “We had deployed Archer some time ago in a different role but realized we
could further leverage its capabilities to make it the perfect fit for what we needed.
We took the opportunity to fully deploy the governance, risk, and compliance featuresof the platform for a fresh start with our inventories of vendors, applications, andpaper assets.”®

Eastern Bank is the largest
and oldest mutual bankin the United States. As
its assets approached
the ten billion dollar
mark the bank initiateda strategic focus onrisk management andregulatory compliance.
Deploying multiple
solutions from theArcher Suite has enabled
Eastern Bank to create
a common taxonomy
and consistent language
across all of its business
units. Enhanced visibility,centralized management
and streamlined audit
compliance processes
are just a few of themany benefits from thedeployment.

A Comprehensive Package of Governanceand Risk Solutions“Archer enables us to build

To provide comprehensive benefits across an even wider selection of disciplines, Eastern
Bank added Archer Enterprise & Operational Risk Management, Archer Audit Management,
and Archer IT & Security Risk Management. “We also took advantage of the flexibilityof the Archer platform and added an in-house on-de mand module where we assess
the risk of new products, services, applications, and vendor onboarding,” states Dean.
“With Archer we’re now able to capture a fully holistic view of projects before theyeven start.”

the features, functions, andfields necessary to realize
our business strategy
and facilitate where itneeds to go.

Archer has enabled Eastern Bank to move out of its previously siloed approach throughthe implementation of a common, consistent taxonomy across the entire organization.
“Archer provides us with an environment to create solutions that are unique to EasternBank,” said Dean. “For example, we built our change management process—whichtracks documentation through approval, test, and implementation stages—completelywithin Archer.” With the end-to-end documentation process now fully transparentand organized, Eastern Bank is equipped to expediently comply with all applicableregulatory compliance checks.

Martha Dean, Senior Vice
President and Directorof Operational Risk andInformation Security
Eastern Bank”

Bank-Wide Visibility
Transitioning to the Archer Suite proved to be a straightforward task: “The importfunction made it really easy to convert data that had already been collected—locatedin spreadsheets, flat files, etc.—and get everything into the Archer system without
duplicating efforts,” Dean explains. Intuitive prebuilt functions and the ability to automate
processes further save time for Dean’s team.
“Archer aggregates data from each part of the company and compiles it into a readable,measurable format that enables us to identify potential gaps or vulnerabilities in ourenvironment,” notes Dean. “We’re now using a common taxonomy and we’ve beenable to standardize on a consistent language for all of our documentation. Everyone in
the company is on the same page about where our risk is, and how to manage and to
mitigate any areas that need additional focus.”
The dramatically enhanced visibility across Eastern Bank’s data has enabled Deanto effectively deliver on her mission. She recounted, “With Archer, we now have theability to assess risk across the entire bank from a centralized vantage point. We canmap the whole environment to get a horizontal view of risk through the individual
business units: A significant difference to the very siloed approach we had before.”“We’re in an industry whereregulations change rapidly;
Archer gives us the ability
to quickly and nimbly
add, remove, and adjust
attributes to accommodate
whatever is needed bythe business.
Martha Dean, Senior Vice
President and Directorof Operational Risk andInformation Security
Eastern Bank”

Sharing Good Things“We have an amazing relationship with our Archer account representative,” exclaims
Dean. “She brings ideas of how we can better leverage the Archer products we alreadyown, and shares best-practices that she has seen working well at other clients. She has
a strong focus on the financial services industry and fosters a real sense of community
for Archer users. It’s a really phenomenal relationship.”

Eastern Bank Uses Archer to Drive Business Processes and Streamline Compliance | 2®

Archer Enables Realization of Business StrategyDean concludes, “(The) Archer Suite is a one-stop shop and I’m passionate about thevalue it brings to Eastern Bank. Competing solutions frequently dictate the strategy
that you follow, rather than supporting it. In contrast, Archer enables us to build thefeatures, functions, and fields necessary to realize our business strategy and facilitate
where it needs to go. We’re in an industry where regulations change rapidly; Archer gives
us the ability to quickly and nimbly add, remove, and adjust attributes to accommodate
whatever is needed by the business.”

Discover More
Archer is a leading
provider of integrated
risk management (IRM)
solutions that enable
customers to improvestrategic decision-making
and operational resilience
with a modern technology
platform that supports
qualitative and quantitative
analysis driven by bothbusiness and IT impacts.
As true pioneers in GRC
software, Archer remains
solely dedicated to helping
customers manage risk andcompliance domains, fromtraditional operational risk
to emerging issues such asESG. With over 20 years
in the risk management
industry, the Archer
customer base represents
one of the largest pure risk
management communitiesglobally, with more than
1,200 customers including
more than 50% of theFortune 500.
Visit www.ArcherIRM.com.

©2022 Archer Technologies LLC. All rights reserved. Archer and the Archer logo are registered trademarks or trademarks of ArcherTechnologies LLC in the United States and other countries. All other trademarks are the property of their respective owners. Archerbelieves the information in this document is accurate. The information is subject to change without notice. 11/22 Case Study.