Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Abrigo

FEBRUARY 14, 2024

It helps financial institutions avoid or at least plan for financial impacts tied to sudden staffing shifts. Identify crucial AML staff positions and processes What tasks are critical to daily operations? What tasks are required per regulations? We can help you navigate changing AML/CFT and fraud regulations.

Training 195

Training Fraud Compliance Regulation 195

Accenture

OCTOBER 5, 2021

Core banking systems have sat at the heart of banks’ operations for decades. But with the banking landscape changing faster than ever – thanks to new digital innovations, regulations, and consumer expectations – many of these legacy platforms now struggle to keep pace. The result?

Regulation 312

Regulation Innovation System Operations 312

Perficient

DECEMBER 22, 2023

This blog was co-authored by: Ashley Simmons In conversations with financial services executives, Perficient consultants consistently delve into the application and usage of artificial intelligence (AI) within the industry. A pivotal aspect of this conversation revolves around the regulatory perspective toward AI.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. But what makes an exceptional BSA Officer?

Training 221

Training Compliance Regulation Software 221

Cisco

OCTOBER 4, 2022

It is an update to the 2004 Operations book, and links the different processes of Architecture, Infrastructure, and Operations (AIO) into a cohesive framework for auditors to assess. In this booklet the FFIEC discusses the principles and practices for IT and operations, as well as processes for addressing risk respective to IT systems.

Operations 118

Operations Software Risk Management Management 118

Abrigo

JANUARY 24, 2024

The FDIC bid process is highly confidential and typically operates within a short window before the FDIC officially closes a bank and declares a successful acquirer. For example, adopting the current expected credit loss standard (CECL) required a well-planned strategy and ample time dedicated to the operational and technical transition.

FDIC 195

FDIC Regulation Strategy Data 195

Accenture

OCTOBER 5, 2021

Core banking systems have sat at the heart of banks’ operations for decades. But with the banking landscape changing faster than ever – thanks to new digital innovations, regulations, and consumer expectations – many of these legacy platforms now struggle to keep pace. The result?

System 221

System Regulation Innovation Operations 221

BankUnderground

NOVEMBER 2, 2022

Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood. But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters.

Operations 87

Operations Policies System Regulation 87

Abrigo

FEBRUARY 6, 2024

In this blog post, we will delve into the strategies and policies credit unions can adopt to ensure the success and profitability of their MBL programs. It also recommends including projections related to loan pricing, operating expenses, and delinquency.

Lending 221

Lending How To Risk Management Policies 221

Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. A number of our financial institution customers are regulated by multiple, and different, regulatory bodies. The 2021 Updates in the Architecture, Infrastructure, and Operations book. Operations and Operational Processes.

Regulation 71

Regulation FDIC System Software 71

Perficient

DECEMBER 27, 2023

Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes. YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve.

Compliance 221

Compliance FDIC Regulation Fraud 221

Perficient

AUGUST 5, 2021

Do blog readers like to have their opinions heard? Background: On June 11, 2021, the Federal Reserve published in the Federal Register a proposal to amend Regulation J to govern funds transfers through the Federal Reserve Bank’s new FedNow Service by establishing a new subpart C. Comments must reference Docket No.

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DC United States Washington Regulation 309

Perficient

JUNE 1, 2022

So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions , and reviewed considerations for alternative trading systems. FINRA and the SEC take a dim view of brokers purposely withholding trade reports (e.g.,

Report 294

Report Security Regulation System 294

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

Management 195

Management Lending Risk Management Strategy 195

Abrigo

DECEMBER 23, 2022

Blog posts to help your asset/liability management (ALM) staff strategize for the future These ALM posts were the most popular in 2022. Our top ten blogs were created by Abrigo's team, which includes former bankers, regulators, and industry experts. Would you like other articles like this in your inbox? For rookies and experts.

Resources 195

Resources Risk Management Study Strategy 195

Abrigo

SEPTEMBER 1, 2021

Read our blog series on the FinCEN's priorities. financial institutions' improved compliance with Bank Secrecy Act and anti-money laundering regulations, such as cash reporting requirements.” . Financial institutions can expect additional scrutiny from regulators and auditors on EDD processes and high-risk customer monitoring.

Training 195

Training Regulation Community Austin 195

Abrigo

DECEMBER 5, 2019

Banking regulators, state regulators, and FinCEN release joint statement. The 2018 Farm Bill removed hemp as a Schedule I narcotic under the Controlled Substances Act and directs the United States Department of Agriculture (USDA) to regulate legal hemp cultivation and production. BSA Rules and Regulation. Learn More.

Regulation 195

Regulation United States Training Compliance 195

Abrigo

APRIL 6, 2022

Takeaway 2 The change includes an obligation to inform regulators of a “notification incident” ASAP and no later than 36 hours after a reportable event occurs. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents.

Security 195

Security Regulation District of Columbia United States 195

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

Abrigo

SEPTEMBER 7, 2023

Often, those alerts mostly likely are routed to the operations area of the financial institution. The operations area should communicate with the BSA/AML area if this function is failing. ACH warnings/exceptions matter. Don’t ignore warnings and exceptions generated from the ACH system. Raise your hand about ACH risks.

Fraud 221

Fraud Training System Trends 221

Abrigo

FEBRUARY 2, 2015

For most consumers who have a checking account, savings account and maybe a mortgage, the regulations placed on their community bank isn’t given a second thought. Two recent surveys addressing the community banking landscape have pointed to increasing regulations as the primary cause of stress for these institutions. Blog Bank'

Community Bank 150

Community Bank Community Regulation Survey 150

Perficient

MARCH 3, 2023

In our first blog in this series, Blockchain: The Secret Sauce to Supply Chain Visibility , we covered why visibility is so crucial in the supply chain for all parties and gave examples of firms using distributed ledgers to help improve customer service, reduce inventory costs, provide proactive status updates, and help mitigate risk.

blockchain 275

blockchain Management Regulation Resources 275

Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

Trends 221

Trends Industry Analytics Compliance 221

Perficient

SEPTEMBER 16, 2022

Perficient covered a well-researched Fed paper on this topic here – NY Federal Reserve Evaluates Stablecoin Frameworks – Perficient Blogs. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. Determining Legality. The Home Owners’ Loan Act.

Compliance 275

Compliance Risk Management System Regulation 275

CFPB Monitor

MARCH 25, 2020

To the extent in-person hearings may be taking place outside AAA-ICDR’s facilities, parties, arbitrators, and mediators must consult city, state, federal, and other applicable regulations and guidance to determine their impact on the hearing. On March 17, JAMS issued an update on the impact of COVID-19 to its operations.

Operations 60

Operations Video Regulation Groups 60

Abrigo

MAY 20, 2022

The CAMELS rating is a measure of a financial institution’s risk based on an evaluation and rating of six essential components of its financial condition and operations. Earnings: The quality, trend, and sustainability of the net profits from a financial institution’s operations. What regulators look for in top-down guidance.

Risk Management 195

Risk Management Management FDIC Meeting 195

Abrigo

JULY 13, 2023

Massive financial losses can destabilize their operations, impact profitability, and harm their reputation. Pig butchering scams not only result in financial losses for clients; they can also lead to personal hardships, damaged credit scores, and even identity theft. The consequences can be dire for financial institutions.

Fraud 195

Fraud cryptocurrency Training social media 195

Abrigo

FEBRUARY 9, 2023

This helps banks and credit unions operate an effective risk assessment and refrain from violating sanctions. As OFAC penalties have demonstrated, PEP list scanning cannot be 100% failproof, but regulators still expect banks’ best efforts.

Fraud 195

Fraud Training Software Compliance 195

Abrigo

DECEMBER 10, 2021

This update clarifies that banking regulators and FinCEN understand that no specific customer type automatically falls into a higher risk category. These updates are in the sections for Charities and Nonprofit Organizations , Independent Automated Teller Machine (ATM) Owners or Operators , and Politically Exposed Persons (PEPs).

Training 195

Training Regulation Policies ATM 195

Chris Skinner

JANUARY 16, 2020

Nice acronym although I prefer Coca-Cola, the Co-ordinated Car Co-operative Association. Backed by over twenty mainly … The post European payments on gas appeared first on Chris Skinner's blog. Or something like that. Anyways, whichever Cola you prefer, this new initiative is interesting.

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Payments Maine System Operations 327

Abrigo

MARCH 11, 2021

information about the place(s) where the reported individuals or entities are operating This is the first of many steps FinCEN must take to satisfy and implement the requirements of the Act, and financial institutions should remain diligent in updating policies, procedures, and processes as regulations and guidance unfolds.

Training 195

Training Regulation Video Fraud 195

Chris Skinner

JANUARY 31, 2019

Things we’re reading today include … Deutsche Bank swings to first full-year net profit since 2014 German regulators probe price decline at Wirecard UK fintech shuts US operation to save Chinese deal Barclays trial jury told to ignore defendants’ jokes about prison TSB computer meltdown bill rises to £330m Metro … The post Things (..)

Metro 150

Metro Regulation Fintech US 150

Abrigo

SEPTEMBER 21, 2023

Each time the traveler enters a new invisible boundary between mobile operators or wireless networks, it is likely that they are receiving a new IP address for their mobile device. Mobile Banking can also add to the number of IP addresses used if that customer or member is a traveler and checks his/her account from their phone.

Fraud 195

Fraud Software Mobile Online 195

Abrigo

AUGUST 7, 2023

Create a business continuity plan A business continuity plan is a document or procedure that details the necessary information an institution or organization needs to continue operating during an unplanned event. Remember that sometimes using existing staff to cover unplanned vacancies may not be possible or cost-efficient.

Training 195

Training Fraud Leadership Resources 195

PYMNTS

FEBRUARY 5, 2020

That’s a bad moon rising for some Big Data operators. The Merchants’ Guide to Navigating Global Payments Regulations , powered by Ekata, dives deep into this complex and unsettled topic, from possible abrupt retail impacts to long-term open banking repercussions. With regulators showing their fangs in dozens of countries, U.S.

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Google Data Regulation social media 288

PYMNTS

JANUARY 22, 2021

“Loon has been chasing the hardest problem of all in connectivity — the last billion users,” Loon CEO Alastair Westgarth said in a blog post on Medium. . In the end, Loon couldn’t “build a long-term, sustainable business," noted the blog post. Loon was originally part of Alphabet’s X division.

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New York Regional Community Software 181