The founder of Sox-Expert.com is James P. Schwei, an independent business and governance consultant specializing in Sarbanes Oxley compliance. He is a 30-year finance professional with core competencies in accounting, finance, auditing, project management, treasury, administration and operations. After serving as the Vice President of Finance, Controller and Treasurer for Columbia House in New York, Mr. Schwei left the company in 2002 in order to pursue a consulting career in the newly emerging market of Sarbanes Oxley compliance. His expertise includes GAAP and SEC reporting, PCAOB Standards, the COSO Framework and full SOX implementations.
His consulting efforts convinced him that there was a high level of frustration among his clients with their current SOX solutions. In the majority of cases, this dissatisfaction was directed at inadequate software, deficient protocols, user confusion, human error and escalating costs. Mr. Schwei saw that there was a clear need for a new, effective SOX solution. And the solution that he created is SOX Expert.
In his own words, “I developed SOX Expert as a simple, yet comprehensive solution for companies of all sizes that are dissatisfied with their current SOX solution and/or its cost. SOX Expert provides a coherent framework for all the business processes of an organization. It monitors all control activities, risk assessment and testing results. It also prints testing worksheets and keeps track of testing results. It is an extremely cost effective method of implementing Sarbanes Oxley without the need to buy expensive software and/or hardware.”
In 2009 and 2010, he adapted the software to serve all of a company's Governance Risk and Compliance (GRC) needs.
Joining Mr. Schwei as an active partner in SOX Expert is Richard T. Craw. He and Mr. Schwei have known each other for nearly three decades. Having spent twenty-four years in Mortgage Banking, Mr. Craw's expertise lies in sales, marketing and entrepreneurial development. From 1986 to 1994, he served as one of the founding partners and Executive Vice President of Lancaster Financial Ltd., Inc. He was responsible for all retail sales, advertising and marketing efforts. During this time, Lancaster became one of the top mortgage lenders in the state of New Jersey, closing over $425,000,000 in 1993.
In 1994, Lancaster was sold to Summit Bancorp and Mr. Craw was named Senior Vice President in charge of New Business Development. In 1996, Mr. Craw opted out of Summit Bancorp in order to pursue another entrepreneurial opportunity, and in 1997 founded Priority One Financial Services, LLC. As a licensed residential mortgage banker, Priority One originated and closed over $1,200,000,000.00 since its inception. Mr. Craw was responsible for strategic planning, growth and profitability. His expertise included regulatory compliance, correspondent contracts, investor relations and warehouse lines of credit. He was also responsible for capital formation, human resource decisions and the operating budget.
When Mr. Schwei approached him in 2008 about merging their talents in order to bring SOX Expert to market, Mr. Craw was quick to accept. It became immediately clear that Mr. Schwei’s software was uniquely positioned to provide a complete SOX solution, at an extremely low cost, in an easy to use, easy to implement package.
4.Your Risk Control Matrix and Test Plans are separate documents that do not dynamically update each other for changes you make.