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The Human Resources ‘Build or Buy’ Issue for 2018

Gonzobanker

At two recent gatherings, Cornerstone Executive Roundtable of human resources executives, this question was asked: “What are the most difficult jobs to fill and keep right now?” Maybe 2018 is the year to ratchet up our long-term “build” strategies. Guy Endore-Kaiser. Risky, yes.

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How FICO and Operation HOPE are Taking Steps toward Financial Literacy for All

FICO

lags behind many other countries in financial literacy, meaning millions of Americans lack the resources they need to chart a healthier financial future. FICO is taking a number of steps to promote credit education and financial independence alongside our partners at Operation HOPE. Operation HOPE Global Board of Advisors.

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Federal banking agencies encourage Bank Secrecy Act resource sharing

CFPB Monitor

Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”)—released on October 3, 2018 an Interagency Statement on Sharing Bank Secrecy Act Resources (“Statement”). Such resource sharing contemplates reducing costs and increasing efficiencies in the ways banks manage their BSA and AML obligations. Patriot Act.)

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Stripe To Acquire African Payments Processor Paystack

PYMNTS

Stripe already reportedly invested in Paystack's Series A round in 2018. “In This acquisition will give Paystack resources to develop new products, support more businesses and consolidate the hyper-fragmented African payments market,” Matt Henderson , Stripe’s business lead in Africa, said in a prepared statement.

Payments 227
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Ensuring AML Programs Minimize Personal Liability

Abrigo

The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Adequately staffed and risk-focused AML resources with good documentation are critical. Adequate, risk-focused AML resources are critical. Get adequate resources. Focus BSA/AML resources on risk.

Resources 195
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Citigroup Fined $56M In UK For Regulatory Reporting Miss

PYMNTS

million for not completing accurate returns between 2014 and 2018, according to a report by Reuters. Banks have to regularly report financial data to make sure they’re operating within the law, and to make sure they have buffers against market shifts in terms of risk and capital.

Report 191
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Manual Backlogs Flee In The Face Of Back-Office Digitization Sweep

PYMNTS

Corporates, banks and financial institutions (FIs) have decentralized systems over time, putting up data siloes and “between [enterprise resource planning], source to pay and the final execution of the invoice payment, add[ing] layers of manual inputting for AP professionals.”. Non-Optimized No Longer An Option.

Resources 142