Tag: risk management

Should Vendor Management Report to Compliance or IT?

Risk management is rarely black and white. What’s best for one financial institution isn’t necessarily best for another. This is…

Vendor Consolidation: What It Means for Vendor Management and Due Diligence

In a world where systems need to be able to communicate, many financial institutions are choosing to consolidate vendors, using…

How Well is Your Board Managing Risk?

Banking regulation is a lot like gravity. What goes up, generally comes back down. The same is likely to be…

How Not to Use Test Results: A $613 Million Enforcement Action Story

Financial institutions rely on caps and limits. There are minimum deposits and credit scores and limits on ATM withdrawals and…

Wells Fargo Scandals: Re-Established 2018

Well, that didn’t last long. Barely a month after launching its “Re-Established” ad campaign with ads about “Earning Back Your…

Should You Outsource Vendor Management?

For years, financial institutions have outsourced a variety of activities to third-party vendors creating a new conundrum: Should we outsource…

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…

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?

When it comes to risk management, there’s a big difference between thorough and redundant. Thorough is a unified, top-down approach…

First, Second, Third, Fourth and Fifth Parties: How to Measure the Tiers of Risk

Everyone knows that third-party relationships introduce risk. But what about second parties, fourth parties and beyond? Let’s take a quick…