article thumbnail

Model Risk Management: Regulatory Priorities and Best Practices

Abrigo

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Takeaway 1 Aside from meeting examiner expectations, proper model risk management can protect your institution from unnecessary risk. .

article thumbnail

Interest rate risk management in a rising rate environment

Abrigo

If an institution wasn’t fully prepared, however, it can nevertheless meet its goals using tailored asset/liability management (ALM) strategies. The other is as an opportunity to improve upon policies, procedures, tools, and the like, which can benefit both the institution and shareholders.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ten qualities of a successful BSA officer

Abrigo

Financial services experience: Practical experience in the banking or financial sector, especially in compliance, risk management, or auditing roles, is invaluable for a BSA Officer. BSA Officers must be able to identify risks and potential compliance issues to ensure a robust AML compliance program.

Training 221
article thumbnail

Biz2Credit Raises $52M In Funding To Expand

PYMNTS

The white label solution includes artificial intelligence (AI) analytics that can configure to an institution’s unique credit policies. The company announced the SaaS platform aimed at financial institutions in late May.

Lending 122
article thumbnail

Using BSA Hot Topics to Strengthen Your BSA Program in 2020

Abrigo

It is critical for leadership and the Board of Directors to be engaged in all areas of the institution, including compliance with the BSA. This is a must-have risk management concept. BSA compliance must be right-sized to fit each institution and its evolving risk. Ensure There Are Adequate Resources. Learn more.

Training 195
article thumbnail

NY Department of Financial Services announces initiative to collect and publish diversity data

CFPB Monitor

In the industry letter, DFS made plain that it expects financial institutions to make DEI at the leadership level strategic business and corporate governance priorities, emphasizing the importance of developing a pipeline of diverse leaders. House Financial Services Committee’s 2019 analysis of bank diversity data.

Data 78
article thumbnail

Fed To Wells: Reform Or Remain Static On Growth

PYMNTS

Wells Fargo won’t be allowed to grow until it hardens its risk management policies to make sure there are no more abuses of customers, according to a report by Reuters. Jerome Powell, chairman of the Federal Reserve, wrote a letter to U.S. Senator Elizabeth Warren on Nov. 28 and outlined his views and decisions on the bank. “We