<img src="https://ws.zoominfo.com/pixel/pIUYSip8PKsGpxhxzC1V" width="1" height="1" style="display: none;">
first-dakota-national-bank-logo-c7882c78-1

First Dakota National Bank 

Seamlessly Integrates Vendor and Business Continuity Management with Ncontracts   

First Dakota National Bank has a proud legacy of service, tracing its roots back to 1872 — well before South Dakota achieved statehood. Over the decades, it has grown steadily, powered by a team of skilled, motivated employees committed to "not only doing the right thing, but doing things right." Today, the bank operates 17 full-service locations across 12 South Dakota cities, along with six loan production offices spanning four states. 

Sometimes even the most well-oiled machines need a tune-up to operate more efficiently, which is what led First Dakota to seek automated solutions — first for third-party risk management, and later for business continuity and contingency planning. 

Company Size
$2.9 Billion in Assets
Location
Yankton, South Dakota
Primary Regulator:
OCC
Website
https://www.firstdakota.com/

The Challenge

When Sandy Swensen, Director of Teller Operations and long-time employee of First Dakota, took over contingency development duties at the bank, the process flowed smoothly thanks to its dedicated team members. However, the system was paper-based and decentralized, without any connection to its vendor or contract management solutions. 

“We were looking for a way to improve the quality of BCP and plan management efficiency,” recalled Sandy. Her team juggled multiple Word and Excel documents to track department owner timelines for the annual plan review and testing. They also faced challenges in efficiently re-evaluating the plans’ accuracy, underscoring their need for an automated, streamlined process.  

A few years prior, First Dakota faced similar issues with its manual vendor and contract management systems. It ultimately transitioned from an Access Database to Nvendor for third-party and contract management. 

When the time came to choose an automated business continuity solution, the bank’s long-term relationship with Ncontracts and the ability to integrate Ncontinuity with Nvendor were ultimately the deciding factors. “Our success with that solution provided confidence that Ncontinuity would serve us equally as well,” Sandy noted.  

“It just makes more sense efficiency-wise,” said Cole Hutchinson, SVP of Risk Management. “To have those systems be able to tie into each other as opposed to trying to bring in a different vendor to do the continuity side and recreating the wheel on all those vendor contacts…[It] makes a lot of sense to have them tied together.” 

“We liked the fact that Ncontinuity integrates directly with Nvendor to further streamline our processes.”
Sandy Swensen, Director of Teller Operations

The Solution

Today, First Dakota relies on Ncontracts for several areas of its risk management program, implementing Ncontinuity and Nvendor.  

  • Ncontinuity to improve the quality and efficiency of its business continuity and contingency planning. Long gone are the days of paper trails and manual systems. Having a centralized system that integrates with Nvendor has streamlined information sharing, allowing the bank to focus more closely on its reporting, audits, and other BCP processes.  
  • Nvendor to streamline vendor management and collaboration with the BCP team. Having a centralized system has improved vendor oversight with automated reminders, eliminated manual tracking, and streamlined reviews. Cole noted, "All of that [vendor contracts] goes into Ncontracts so that we know it's there and we're able to track and review the vendors. Then if you do have notification dates...you're actually receiving emails on that. 

 

The Results

Nearly a decade after First Dakota began using Ncontracts’ solutions, Sandy, Cole, and their teams continue to see the benefits of Ncontinuity and Nvendor.  

Centralized documentation for better collaboration. “The centralized documentation and cloud storage have been major benefits. The teams are more easily able to share information and coordinate than with the previous paper-based system,” Sandy said.  

Better visibility across departments. Having integrated solutions enables Sandy and her team to find vendor reports for clearer business continuity plans by defining workarounds, maximum downtime, recovery timelines, and other critical metrics. This transparency has also helped identify gaps between actual recovery capabilities and business needs, enabling better alignment across departments, such as risk management and information technology.  

Stronger vendor management. “Our vendor third-party program is much more mature than it was in 2016. There’s multiple reasons. Part of that is we’re growing. But having Ncontracts’ solutions has also been a big catalyst for us developing that program further,” Cole noted.  

Optimized workflow. Before implementing Ncontinuity, First Dakota’s BCP and contingency system was decentralized and not efficient,” Sandy recalled. “We liked the fact that Ncontinuity integrates directly with Nvendor to further streamline our processes.” 

Streamlined contingency testing. Contingency testing has become more structured and trackable, with major tests like generator drills and call trees logged in Ncontinuity. Centralized tracking capabilities also streamline onboarding and offboarding, ensuring business continuity plans stay current amid staff changes. 

Improved audits and reporting. Sandy recalled an audit that exposed gaps caused by outdated data, which led to a shift from quarterly to monthly reviews. First Dakota continues to actively collaborate with the Ncontracts support team to better leverage their reporting features. “The Ncontinuity reports, along with custom reporting, has saved time and assisted with audit requests.” 

Accurate employee data. South Dakota is a tornado-prone region, so disaster recovery is top of mind at First Dakota. Ncontinuity’s reporting tools help the bank align its HR data, validate headcounts across locations, and assess risk.  

“Wonderful” customer support. The guidance of dedicated support team members has been instrumental in First Dakota’s years-long relationship with Ncontracts. Sandy has worked directly with a business continuity specialist to customize ratings and other Ncontinuity features to fit the bank’s unique needs.  

Quick Overview

Products:  Ncontinuity and Nvendor

The Results:

  • Centralized documentation & storage 
  • Enhanced cross-departmental collaboration 
  • Stronger vendor management 
  • Optimized workflow 
  • Streamlined contingency testing 
  • Improved audits & reporting 
  • Top-notch customer service  

Start Your Success Story

Ready to elevate your business continuity and vendor management programs with automated solutions from Ncontracts?  

Schedule a demo today →

Looking Ahead 

As First Dakota continues to grow and add new vendors, Sandy and Cole will continue to rely on Ncontracts for their institution’s third-party and business continuity management needs.  

“The recovery process is getting more integrated with all the contingency plans. In recent years, we also added the Ntranet product to manage our intranet used to share information internally.” 

Ncontracts Implementation Tips from First Dakota National Bank  

Sandy and Cole recommend that institutions implementing Ncontracts solutions should: 

Create a plan. “Figure out what you want. Then prioritize what you need and build your plans accordingly.” By establishing strong internal processes and working closely with Ncontracts, Sandy has created a business contingency and continuity foundation her team can continue to build upon.  

More Case Studies

Fahey Bank Masters Risk Management

Fahey Bank Masters Risk Management

October 01, 2024 1 min read
One Billion Credit Union Vendor Management

One Billion Credit Union Vendor Management

October 01, 2024 1 min read
Valliance Bank's Team of One Crush Compliance with Nlending

Valliance Bank's Team of One Crush Compliance with Nlending

October 01, 2024 1 min read