Risk Management Companies
Risk management companies are businesses that work with companies to identify, analyze, monitor, mitigate and report risks.
FFIEC Guidelines
FFIEC guidelines are the standards set up by the Federal Financial Institution Examination Council (FFIEC) for banking practices.
Risk Management Policies
Risk management policies are policies that leaders and managers create, and all members of the organization follow, to reduce or manage risk.
Strategic Risks
Strategic risks are threats that come from company decisions that thwart the firm’s long-range goals.
Business Continuity Software
Business continuity software is a software solution for planning for adverse events that would disrupt the operation of the financial institution.
Contingency Plan Template
A contingency plan template can be a physical document, or a digital form used to create a compliant contingency plan.
Credit Risk Management
Credit risk management in a financial institution refers to the strategic processes for identifying and treating risks posed by consumers who borrow from
Reputational Risk
Reputational risks can come from management decisions and employee actions within the company, from joint venture partners, from suppliers, or from
ERM Meaning
ERM stands for enterprise risk management. The ERM meaning is defined by the Committee of Sponsoring Organizations (COSO) as the combination of culture
Operational Risks
Operational risks are vulnerabilities to financial loss due to failures in processes, systems, and the people using those processes and systems.
Risk Management Software
Risk management software allows a company to easily identify, track and deal with threats that might damage the firm’s overall success.
Federal Reserve Definition
The Federal Reserve, also called the Fed, is the central banking system of the U.S., and the Federal Reserve Bank definition is any one of the 12 regiona
Risk Analysis
Risk analysis is the part of that overall process that deals with the analysis of information about the potential loss.
Risk Mitigation
Risk mitigation refers to defined strategies to minimize or avoid exposure to loss.
Third-Party Risk Management
While relationships with third parties can be beneficial, they also need to be overseen to make sure they do not result in damages that can affect your
Risk Management
Risk management is necessary for any business, helping to protect it against risks that may occur as a result of accidents, disasters, emergencies and
Risk Management Planning Template
Every business is vulnerable to some amount of risk and every project the business works on can bring its own additional set of risks. That’s why it’s
Recovery Time Objective
The Recovery Time Objective (RTO) is the maximum, tolerable length of time a computer, system, network or application can be down after a failure
Continuity Of Operations Planning
Continuity of Operations Planning (COOP) is an effort taken within individual executive departments and agencies to ensure essential functions continue
What Is Risk Management?
Risk management is important for every company and is, in fact, such a crucial part of doing business that there are several industries and government
Money Laundering
In 1970, the United States Congress enacted the Bank Secrecy Act (BSA), also known as the Currency and Foreign Transactions Reporting Act. This act
Vendor Definition
In terms of financial institutions, a vendor is an entity that provides a product or service the bank uses to conduct its business. Vendors play an essent
Inherent Risk
Inherent risk is the risk that exists naturally when there are no safeguards in place to avoid trouble.
Strategic Planning Processes
Strategic planning processes in a financial institution begin when a bank forms and continue as long as the bank is in operation.
Mitigation Definition
Mitigation is defined as the action of reducing the severity or seriousness of something. When it comes to banking, risk is mitigated in several ways,
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What Jason Bateman Taught Me About Money Laundering & Other BSA Lessons
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Whether you're a Compliance Officer or a President, here are 5 scary banking stories from October guaranteed to give you the compliance creeps...