Insights on Business

JULY 23, 2019

Security and risk management professionals within financial organizations can be overwhelmed with the rising cost and pressure of regulatory change management and mitigating associated risks. What they are actually looking for is a solution that supports an integrated approach to risk management.

Risk Management 70

Risk Management Compliance Management Software 70

Bobsguide

MARCH 17, 2022

Profile Software , an international financial solutions provider, announced today the enrichment of RiskAvert with new capabilities like the introduction of the NPE Prudential Backstop and the Interest Rate Risk in the Banking Book (IRRBB) modules.

Risk Management 78

Risk Management Regulation Meeting Compliance 78

Abrigo

DECEMBER 30, 2019

Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. The decade is quickly coming to an end, so as we put 2019 in our rear-view mirror, it’s time for a fresh start with the new year and new decade approaching.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

JUNE 8, 2021

Real consequences from OFAC sanctions violations OFAC compliance has increased in complexity and clarity with guidance released within the past few years and institutions need to take notice to avoid penalties. Importance of Compliance. A Framework for OFAC Compliance Commitments. OFAC sanctions can have real world impact.

Compliance 195

Compliance Software Case Study Payments 195

Abrigo

SEPTEMBER 14, 2022

The data is intended to help the CFPB enforce fair lending laws and could also be used by the government and small business lenders to identify the needs of businesses, said Michelle Lucci, Abrigo Regulatory Compliance Manager. Those implementing regulations were coming. Credit Risk Management. Lending Regulation.

Lending 195

Lending Data Regulation Community 195

Abrigo

JANUARY 27, 2020

The National Credit Union Administration (NCUA) has been working on their share of goal setting, as they have released their 2020 supervisory priorities for credit unions, regulation updates, and the agency’s modernization programs. “We Strengthen credit risk by improving underwriting. BSA Rules and Regulation. Cannabis Banking.

Risk Management 195

Risk Management Regulation Management Report 195

Abrigo

NOVEMBER 15, 2019

Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards. Effective credit risk review promotes lending agility. Strategic risk : Problem loans and portfolios can alter a financial institution’s plans for allocation of resources and new products.

System 150

System Lending Compliance Risk Management 150

Abrigo

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. The 2019 FinCEN advisory extensively discusses typologies, case studies, and red flags for DTO activity. This checklist can help.

Fraud 195

Fraud United States Training Policies 195

Abrigo

NOVEMBER 6, 2019

On October 18, 2019, the Financial Action Task Force (FATF) issued a publication updating its list of jurisdictions with anti-money laundering and combatting the financing of terrorism (AML/CFT) deficiencies. Their publication to improve global compliance efforts is published quarterly. BSA Rules and Regulation. BSA Training.

Regulation 150

Regulation Training Compliance Fraud 150

Abrigo

DECEMBER 2, 2021

31, 2019, and June 3, 2021, according to the Community Banking in the 21st Century report. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity. It's "business as usual" as far as expectations for compliance staff to remain alert for illicit financial activity.

Conference 195

Conference San Antonio Lending Fraud 195

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations.

Fraud 115

Fraud Survey Taxes Regulation 115

FICO

NOVEMBER 15, 2022

FICO is transitioning its Siron ® compliance business to IMTF, a Swiss global leader in regulatory technology, and a partner in the Siron business for more than 20 years. Tue, 07/02/2019 - 02:45. Siron’s anti-financial crime solutions provide organizations with analytics-driven applications for end-to-end financial crime compliance.

South Carolina 52

South Carolina Compliance Analytics Software 52

Insights on Business

FEBRUARY 13, 2019

The global financial crisis of 2008 and 2009 brought a renewed focus on the governance, risk and compliance (GRC) processes within the financial institutions, who, not very long ago, viewed GRC as little more than a necessary evil – cost of doing business, which added little value. IBM OpenPages with Watson 8.0

User Experience 79

User Experience Compliance Risk Management Training 79

CFPB Monitor

APRIL 1, 2021

Augmenting risk management and control practices. The agencies observe that the potential risks associated with using AI are not unique to AI, such as creating operational vulnerabilities and consumer protection risks (fair lending, UDAAP, privacy). Comments on the RFI must be received by June 1, 2021. Uses of AI.

Risk Management 78

Risk Management Training Lending FDIC 78

Independent Banker

NOVEMBER 30, 2022

Stacy Watkins (left), president and CEO, and Hilary Nelson (right), senior vice president and director of operations and compliance, at the Las Vegas Strip. Lexicon Bank in Las Vegas opened its doors in August 2019, not long before COVID-19 shut down the city’s entertainment businesses. Photo by Sammy Tillery. By Tom Groenfeldt.

Las Vegas 129

Las Vegas Community Bank Community Wisconsin 129

Insights on Business

DECEMBER 12, 2018

This past year brought governance, risk and compliance (GRC) to the center stage. Organizations in financial services and other sectors witnessed an increase in “airtime” given to risk and compliance issues at the board level. Drive efficiency across risk & compliance processes. Innovating in the open.

Innovation 111

Innovation Compliance User Experience Regulation 111

Insights on Business

SEPTEMBER 26, 2019

In my May 2019 blog, “Has GRC Reached Its Tipping Point? Observations From The Front Lines” , I described a set of common patterns that are driving business initiatives in Governance, Risk & Compliance. Figure 1: GRC Gets Personal – Improving the Culture for Risk & Compliance through personalization.

Compliance 127

Compliance Examples Policies Management 127

American Banker

MARCH 5, 2020

The bank said it was Sloan's decision to retire, but a new report from House Democrats reveals that Fed and OCC officials made moves behind the scenes in 2018 and 2019 to pressure the bank's board to remove him.

Regulation 59

Regulation Report Risk Management Compliance 59

PYMNTS

OCTOBER 30, 2019

As of late 2019, there are few people left who need to be talked into the “why” of instant payments — that case has already been well made. There is no shortage of risks to consider, she noted. In that sense, she noted, the security and compliance team’s concerns are not misplaced.

Payments 104

Payments Risk Management Security Fraud 104

Abrigo

SEPTEMBER 16, 2019

In an effort to improve the effectiveness and efficiency of those regulatory exams, the collective financial institution regulatory bodies (the Agencies) issued a Joint Statement on Risk-Focused Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Supervision (the Statement) on July 22, 2019.

Resources 150

Resources Regulation Software Risk Management 150

Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

Compliance Training Community Bank Regulation 70

Insights on Business

SEPTEMBER 26, 2019

In my May 2019 blog, “Has GRC Reached Its Tipping Point? Observations From The Front Lines” , I described a set of common patterns that are driving business initiatives in Governance, Risk & Compliance. Figure 1: GRC Gets Personal – Improving the Culture for Risk & Compliance through personalization.

Compliance 87

Compliance Examples Policies Management 87

FICO

SEPTEMBER 7, 2022

Tue, 07/02/2019 - 02:45. With a cost-of-living crisis and soaring energy costs across Europe and other countries, it's important to re-evaluate debt collections and customer risk management strategies. Elsewhere in Europe, a slew of compliance challenges is already in place. FICO Admin. by Bruce Curry.

Strategy 52

Strategy Risk Management Management Operations 52

CFPB Monitor

JUNE 11, 2019

378 , Regulatory Sandbox, into law on March 25, 2019. Involve a business model, delivery mechanism, or element that may require the applicant to be licensed or authorized to act as a financial institution or other entity regulated by the Utah Financial Institutions Act. Utah Governor Gary Herbert signed H.B.

Utah 60

Utah Arizona Regulation Innovation 60

PYMNTS

FEBRUARY 28, 2020

million-member Desjardins Credit Union, fell victim to one in June 2019. It establishes a CU industry security benchmark and identifies potential problems in five major domains: cyber incident management, cyber risk management and oversight, cybersecurity controls, external dependency management and threat intelligence and collaboration.

Data 131

Data California Security Pennsylvania 131

FICO

JUNE 23, 2020

Supporting responses to internal compliance, auditors and financial regulators. Gauging the impact on your portfolios compared to your peers, when new regulations are introduced, which can influence how issuers shape their strategic approaches. Using Benchmark Data When Dealing with Audits and Regulators.

Management 52

Management Cards Data Strategy 52

FICO

JULY 1, 2022

Tue, 07/02/2019 - 02:45. A lot has changed since the last pre-pandemic FICO World conference, held in November 2019 in New York City. Director, Product Management at FICO, and included panelists: Julie Conroy , Head of Risk Insights and Advisory at Aite-Novarica Group (US). by TJ Horan. expand_less Back To Top.

Fraud 52

Fraud Trends South Carolina Risk Management 52

FICO

DECEMBER 20, 2022

Tue, 07/02/2019 - 02:45. Vice President, Product Management. As FIs have more customers using more forms of digital payments, defending against the dizzying array of scams will be crucial to their customer experiences, and potentially required for regulatory compliance. 5 Ways Digital Payments Will Change FIs and Fraud in 2023.

Fraud 52

Fraud Payments South Carolina Compliance 52

Gonzobanker

DECEMBER 14, 2023

The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations. The Lifelong Learning Award – goes to NCUA board member Rodney Hood for enrolling in a Wharton graduate program on fintech to be a more informed and effective regulator.

Fintech 194

Fintech Community Regional Technology 194

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe.

Compliance 81

Compliance Technology Fraud Analytics 81

Gonzobanker

MAY 21, 2019

The Risk and Compliance group is rarely seen, but they are constantly distributing lengthy emails expressing grave concern about any proposed organizational changes and potential regulatory exam criticisms. The following fictional memo describes what the team at Cornerstone Advisors imagines would transpire. To: Jeff Bezos – CEO.

Customer Experience 112

Customer Experience Analytics Management Operations 112

Lex Sokolin

DECEMBER 25, 2019

If you read anything but this newsletter, you’ve got to read: Blockchain Capital’s 2019 Year in Review Messari Research Crypto Theses for 2020 DappRadar 2019 dapp Industry Review Decentralized Finance Overview So let’s narrow our entire lens to decentralized finance. What form does that risk take when looking at decentralized software?

blockchain 52

blockchain Bitcoin Software Lending 52

FICO

SEPTEMBER 20, 2022

FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. Thu, 08/22/2019 - 12:37. This level of compliance is not necessarily being enforced, full force, but I think the tide is turning. Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO Admin.

Fraud 52

Fraud Analytics Strategy System 52

PYMNTS

JANUARY 15, 2019

Sloan continued, “We have hired new leaders in key roles, including our new chief risk officer, chief compliance officer, head of regulatory relations and chief operational risk officer. Our corporate risk management team members grew by approximately 1,300, or 15 percent, in 2018.”.

Cards 115

Cards Conference Risk Management Mobile 115

PYMNTS

JANUARY 15, 2019

During a post-earning conference call Tuesday, Sloan said that “to have enough time to incorporate this feedback in our plans in a thoughtful manner and adopt and implement the final plans as accepted by the Federal Reserve and complete the third-party reviews, we’re now planning to operate under the asset cap through the end of 2019.”. “We

Cards 108

Cards Conference Risk Management Mobile 108

Gonzobanker

DECEMBER 19, 2016

Maybe a regulator was out sick or on maternity leave, but this is one crawling bureaucratic nightmare. Let’s hope bankers can keep evolving their mortgage business and borrower experiences among all this compliance chaos. Bank CIO: “Your transformation is scheduled to be completed in 2019, but we’d be converting in 2017.

Utah 60

Utah System Community Marketing 60

Gonzobanker

DECEMBER 19, 2016

Maybe a regulator was out sick or on maternity leave, but this is one crawling bureaucratic nightmare. Let’s hope bankers can keep evolving their mortgage business and borrower experiences among all this compliance chaos. Bank CIO: “Your transformation is scheduled to be completed in 2019, but we’d be converting in 2017.

Utah 60

Utah System Community Marketing 60