Cybersecurity 101: How to Get Senior Management to Spend More on Cybersecurity
They say nothing is certain in life but death and taxes, but I’d also add cyberattacks to that list. Here are five tips for making the case for why your
Vendor Management Framework
A vendor management framework is a logical system for developing a vendor management program. The framework includes recommendations for creating
Complaints Management
Complaints management means dealing with customer complaints in a compliant, appropriate and systematic manner. The complaint management system
COSO ERM Framework
The COSO ERM framework is comprised of the components and principles of effective enterprise risk management.
Vendor Risk Management
Vendor risk management is a process that aims to deal with the risks associated with working with vendors. This process begins when the company is first
Risk Management Strategies
Risk management strategies are systematic approaches to treating risks. Through risk assessment, a financial institution can identify the
Business Impact Analysis
Business Impact Analysis (BIA) is an important step to take in risk management and an essential component in an organization’s business continuity plan.
Lessons from a Fintech O.G.
When Phil Meinert began his career in computer programming, the first wave of fintech development had just begun. If you think it’s hard to implement new
3 Spooky Contract Clauses That Will Raise Eyebrows
You think horror movies are scary? Try reading some of the most hair-raising items that managed to make it into actual FI third-party vendor contracts.
Are You Ready for the Next Economic Downturn?
It’s inevitable that another downturn is coming. That’s why it’s important to make sure green risk management teams have the right tools and expertise to
Sharing BSA Resources with Another Institution? Third-Party Vendor Management Rules Apply
Regulators have given financial institutions a green light for sharing BSA resources in some situations, but proper third-party vendor management practices
Monkey Business: What Two Gambling Monkeys Can Teach Us About Risk
Did you hear about the monkey gambling for drops of juice in a casino? It’s an actual experiment that gives us insights into risk and decision making...
Ammo for the Budget Battle: How Risk Management Delivers ROI
Need help communicating return on investment (ROI) for risk management software? Here are arguments to help make the case to management and the board
How to Build a Better Bank Budget in 7 Steps
Whether you're leading a department or an entire financial institution, you'll learn valuable tips for how to create a budget. Plus...
OCC: Cybersecurity, Commercial/Retail Credit & BSA Will Be 2019’s Top Supervisory Priorities
Risk and cybersecurity remain top supervisory priorities at the OCC for a second year in a row, the agency reports in its latest supervision operating plan
FDIC Proposes Retiring Half Its Risk Management FILs—But Don’t Get Too Excited
It sounds like every banker’s dream come true. The FDIC has proposed retiring 374 of the 664 risk management supervision-related Financial Institution
Laws vs. Regulations vs. Guidance: What's the Difference?
What's the difference between laws vs. regulations vs. guidance? We're breaking it down into a simple explanation in this blog.
Poor Vendor Risk Management Costs Bank $4.75 Million
Compared to other agencies, the Fed hasn’t handed down very many enforcement actions for unfair and deceptive practices violating the FTC Act. Why then is
How to Set Up a Risk Committee
The risk committee helps ensure that management and the board understand each other. Here're tips on setting up a risk management committee.
Risk Assessments 101: The Role of Probability & Impact in Measuring Risk
Risk assessment methodology for banks aren’t nearly as subjective as they may seem. Here, we walk you through exactly what you need to evaluate.
Which Risk Manager Would You Hire? Game of Thrones Edition
While we wait for next year’s final episodes, get your GoT fix with this hypothetical exercise in risk management hiring...
$30,000 Fair Lending Settlement Highlights Power of Community Groups
A recent Fair Lending settlement with a $1B New York-based credit union highlights the importance of a strong Fair Lending compliance risk management...
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?
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…
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
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.
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