OCC Bulletin 2017-43: Guidance for Risk Management of New Activities
In the OCC bulletin 2017-43, banks are reminded that new lines of business are rife with risk potential. Careful vetting is crucial. Nrisk can help.
Regulatory Alphabet Soup Part 2: The Predicted Death of GRC
As Gartner moves away from using the term GRC and towards IRM, we feel strongly the risk management industry will soon leave this buzzword out to die.
3 Reasons Chief Risk Officers Fail
A new study concluded that big banks that employed a Chief Risk Officer were far more likely to be overexposed to the riskiest, new financial derivatives.
FDIC Guidance: Model Risk Management of Third-party Vendors
Model Risk Management: FDIC-regulated banks with more than $1 billion in assets and those that use a complex model that is will be subject to new guidance.
Ncontracts Acquires Supernal Software to Bring Customers BSA and Compliance Solutions
When I founded Ncontracts in 2009, my goal was to provide a way to make risk management more efficient by eliminating the unconnected data, duplicated
Why Inertia Creates Risk
Inertia is one of the greatest forces in the universe. It applies to banking and business and there are costs if inertia goes unchecked.
The Risks of Apple Pay for Banks and Credit Unions
In the race to remain competitive more than1,600 banks and credit unions have joined Apple Pay, probably hoping that some of Apple’s cool will rub off.
RiskTech vs RegTech
Don’t let the label of RegTech trick you into thinking that checking off to-dos on a list of tasks is compliance. Here's more on RiskTech in our article.
Cloudy with a Chance of Data Loss
Perhaps there’s no buzz word more confusing to bankers and credit union executives than the “cloud.” It evokes an ethereal image of data floating safely
When Natural Disasters Become Customer Relationship Disasters
Customers don’t want to hear that a data center across the country flooded, a cyberattack overwhelmed systems or a piece of equipment failed. In their eyes
Why You Need to Focus on Cybersecurity Risk Now
Rather than lump cyber risk in with other categories, it’s important for banks and credit unions to directly address this risk with their critical vendor
Country Risk - Why It Pays to Choose Domestic Service Providers
Think it’s tricky to keep track of the rules and regulations U.S. regulatory agencies? Imagine following operational requirements of foreign countries.
Operational Risk - Foreseeing the Unforeseen Costs of Outsourcing
Operational risk is the risk of financial loss when processes, people or systems fail. It can hurt a financial institution in many ways, including these...
Credit Risk - You’ll Take the Blame If Your Vendor Doesn’t Have the Credit
See the definition of credit risk.
One Size Doesn't Fit All - Updated Guidance from CFPB on Third-party Service Providers
The CFPB clarifies guidance on how to treat vendors of different sizes and impacts after many have been treated with equal scrutiny regarding due diligence
How Not to Manage Risk–A Lesson Courtesy of Wells Fargo
Either Wells Fargo didn’t have strong enough account opening and management policies and procedures in place or there wasn’t a strong enough system ensure
Beware Fair Lending Risks Associated with Second Reviews & Exceptions
A recent HUD settlement highlights potential Fair Lending risks related to second reviews & exceptions. Learn about the agreement and our observations.
The OCC Walks the Enterprise Risk Management Walk—and So Should You
For years regulatory agencies have emphasized the importance of enterprise risk management (ERM). Now the OCC is taking its own advice.
A Brief Review of Recent News Shows Redlining Risk is Red-Hot
This survey of recent redlining news shows that it's a compliance priority for the regulators, and will continue to be a focal point in 2016.
The FFIEC Brings the Board to the Block
With the FFIEC’s November 2015 release of the organization’s IT Technology Examination Handbook, many financial institutions’ board members get surprises.
Ncontracts combines with Strohl Risk Solutions to provide a full suite of risk management solutions
Ncontracts combines with Strohl Risk Solutions to provide a full suite of risk management solutions
Financial Industry Risk Management Solutions Company Ncontracts Appoints Stacy Kilgore As New CFO
Financial Industry Risk Management Solutions Company Ncontracts Appoints Stacy Kilgore As New CFO
3 Clear Ways to Limit Fair Lending Risk
We had a great time with the Indiana Bankers Association last week, and had interesting discussions about stereotypes and fair lending risk.
4 Ways Compliance Can Protect Your Institution's Resources
Learn how a stronger third-party risk management system could have mitigated the damage of a CMP for one financial institution.
6 Tips for Managing Exceptions & Lowering Your Fair Lending Risk
Do you know the six key risks of exception management to assess for Fair Lending compliance? Check them out here, and get actionable best practices.
3 Fair Lending Risks Lenders Need To Know, Plus A Free Risk Assessment
3 Fair Lending compliance risks lenders need to know, like discretion and policies, and tips for how to manage risk. Get a Free Risk Assessment, too!
Are Your Underwriting Policies Creating Fair Lending Risk?
Recent settlements provide key insights about underwriting, disability income and ATR. Sample HUD-approved policy language included.
3 Simple Tips to Manage UDAAP Compliance Risk
UDAAP compliance is a major issue, and effectively managing risk will be critical. Also introducing UDAAP RiskCheck compliance risk assessment.
3 Steps to a Proficient Risk Assessment
A compliance risk assessment helps focus the financial institution on the most important areas of risk. The common three steps are outlined.
10 Questions for Third-Party Compliance
The financial institution's senior management must actively manage third-party relationships. Here are 10 quick questions to gauge your risk.