Risk & Vendor Management: The Role of Committees vs. Departments
When it comes to risk and vendor management, both the board and management have specific roles to play, but where do committees and departments fit in?
Should Vendor Management Report to Compliance or IT?
What’s best for one financial institution isn’t necessarily best for another. One common question: Should vendor management report to compliance or IT?
A Handy Guide to the Leading Names & Faces in Banking Compliance Today
Learn the names and faces of the individuals leading the banking compliance conversation. With this knowledge, you'll have a better sense for the who's who…
Vendor Consolidation: What It Means for Vendor Management and Due Diligence
Many financial institutions are choosing to consolidate vendors. It’s a move that makes sense from a business and management perspective, but how does
How Well is Your Board Managing Risk?
How Well is Your Board Managing Risk? - The Federal Reserve has proposed guidance that would require the largest bank boards to conduct self-assessments.
How Not to Use Test Results: A $613 Million Enforcement Action Story
How Not to Use Test Results: A $613 Million Enforcement Action Story - Financial institutions rely on caps and limits. There are minimum deposits
Wells Fargo Scandals: Re-Established 2018
Wells Fargo Scandals: Re-Established 2018 - Barely a month after launching its “Re-Established” ad campaign with ads about “Earning Back Your Trust”,
Should You Outsource Vendor Management?
For years, financial institutions have outsourced a variety of activities to third-party vendors creating a new conundrum: Should vendor management be
Mythbusting 5 Rumors About the Dodd-Frank Rollback
In this piece, we’ll take a look at five “myths” about the so-called HMDA rollback that we’ve heard circulating amongst our friends, colleagues, customers,…
Two Shocking Contract Management Mistakes That Cost Bankers Their Jobs
You probably think of vendor contract management as something that protects your institution. That’s true, but it does much more than that.
FS-ISAC: Third Parties “Still a Big Risk”
Financial institutions need to continue to pay close attention to third-party access points, control objectives, reporting, monitoring, and gap analysis
Are Silos Stunting Your Risk Management Efforts?
In risk management, there’s a big difference between thorough and redundant. Thorough is a unified, top-down approach with all decisions and discoveries
3 Unusual Advantages of Women in Banking
In this post, we will flip the script and talk about three unique advantages women in finance have, and how you can leverage them to address...
First, Second, Third, Fourth and Fifth Parties: How to Measure the Tiers of Risk
The importance of vendor risk management extends beyond third-parties. Take a look at the other parties involved and the potential risks they pose.
OCC: Third-Party Providers Contribute to 'Elevated' Operational Risk
Could a third-party provider be the weak link in your institution’s operations? It’s possible, according to the Office of the OCC
7 Buzzworthy Headlines in Compliance and Banking for May 2018 - Recap!
top five banking and compliance news headlines from the month of May 2018
Risk Management: How Do You Measure Up?
There’s something tantalizing about comparisons. It’s nice to know where you stack up when it comes to both your peers and the institutions you aspire to
12 Tips to Help You Ace Your Next Board Meeting Presentation
In this post, you'll learn 12 tips to lead a rock-star Board of Directors meeting, and leave a positive impression on the leaders of your bank...
Willing to Take a Gamble? Don't Wager on High-Risk Activities Without a Careful Risk Assessment
Sports gambling is the latest high-risk business opportunity to open up to banks. Add that to state-level legalization of recreational and medical
Congress is Rolling Back Regulations. Can You Roll Back on Risk Management?
Banks and credit unions across the country are rejoicing at the passage of the Economic Growth, Regulatory Relief and Consumer Protection Act.
7 Ideas for Being a Better Negotiator with Your Team, Boss, and Board
In this post, the first in our Beyond Banking series, we'll be talking about some of the more personal aspects of banking. Whether you're...
Notifying Clients of Data Breaches: Which State Law Should We Follow?
Your financial institution is regulated by one state but has an office in another state. Which state’s law do you follow in the event of a data breach?
How to Respond When a Vendor Gets Hacked
A vendor data breach is a nightmare for any bank or credit union. From the financial cost to the bad press to the regulatory attention, data breaches pose
When Your Vendor Says ‘Your Data Was Breached—Six Months Ago.’
What’s worse than a vendor that suffers a data breach that exposes your sensitive customer information? The answer: A vendor that waits almost
5 Factors Your Consumer Complaint Management Program Needs to Succeed
Complaint management is an important part of your financial institutions efforts to comply and grow. Without it, your bank, credit union, or mortgage...
New Regulatory Guidance About Cybersecurity Insurance
Does your institution need cyber-security insurance? Is it required? If utilized, are there rules? Cybersecurity insurance can protect against
Are You and Your Vendors Ready for GDPR?
All may be relatively quiet on the regulatory front in the U.S., but this May new privacy regulations are taking effect in the European Union
3 Reasons Why Cybersecurity Ratings Are a Waste of Money
Investigating a vendor's cybersecurity can be a time-consuming hassle. Wouldn't it be nice if you could pay someone else to monitor and report back on a ve…
How to Break Up with Your Vendor
There may be 50 ways to leave your lover, but when it comes to ending a relationship with a vendor there’s really just one path to follow...
Is Your Bank Considering a Merger or Acquisition? Here's How Compliance Risk Can Impact the Deal
We're expecting to see a renewed wave of bank M&A activity over the coming months, driven by a rising SIFI threshold. If your bank...