INDUSTRY INSIGHTS YOUR PEERS ARE READING
While other industries are moving beyond the use of the internet as a communications channel and deploying business applications on the cloud, most of the core banking applications still run inside company-owned and managed data centers. MORE
Chris Skinner reveals that risk management is where big banks feel most comfortable. Artificial intelligence in banking is all about risk management on BankNXT. Banking artificial intelligence risk management MORE
It can be a wake-up call for an organization to obtain its cyber risk score and learn it is not as prepared for a data breach as it thought it was. As companies learn their FICO Cyber Risk Score, it raises the question: What are our recommendations for cyber risk management? MORE
Understanding risk, particularly its sources and how to most effectively manage it, is one of the most fundamentally important topics in payments for those who provide services and those who use them. That precipitates the need to have new ways of look at risk management.”. MORE
The 2017 Risk Management Summit presented by Sageworks is set for September 25-27th in Denver, CO. The Summit is the industry’s leading life-of-loan conference, spanning business development through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas. MORE
The 2015 Risk Management Summit is less than a month away. Here’s why this is the most popular Risk Management Summit to date: 1. To learn more about the 2015 Risk Management Summit, or to register, visit sageworks.com/summit. MORE
In a new PYMNTS interview , Karl Schamotta, regional director of risk management solutions at Cambridge Global , which sells currency hedging and related services — tasks that have recently assumed greater importance in eCommerce and other industries because of the stronger U.S. You can be sure risk management will continue to gain importance. Market Conditions agriculture cambridge global currency hedging farmers Karl Schamotta Netflix risk management MORE
When IBM acquired OpenPages in 2010, it was widely recognized as a pioneer and market leader in governance, risk and compliance software. Since the acquisition in 2010, IBM has continued to drive innovation and leadership in risk and compliance and industry leaders have taken note. MORE
A recent whitepaper from CEIS Review , Independent Loan Review – An Essential Tool , discusses why banks and credit unions should be sure to conduct regular reviews of their loan portfolio: “the fundamental purpose of the program is to monitor the risk and administration of an institution’s largest financial asset—the loan portfolio—and to make sure that the loan portfolio is staying on course with the direction set forth by senior management and the board”. MORE
There is a trendy restaurant in New York City that temporarily changed its menu to serve food composed entirely of garbage. The idea was to highlight the amount of food that is wasted worldwide. MORE
Sageworks recently announced the dates and location for the 2016 Risk Management Summit. Last year, more than 200 bankers and industry experts gathered in Chicago for the 2015 Risk Management Summit. MORE
Maria Teresa Tejada joined the bank Monday as chief strategic enterprise risk officer. Risk management Compliance Tim Sloan Wells Fargo MORE
In my previous post we looked at the importance of crafting the right digitally-enabled risk management approach—a forward-looking strategy that helps encompass the rapid pace of technology change. Managing Risk Featured Risk management bank risk management risk management strategy MORE
When it comes to the risk management process, there is no one-size-fits-all approach. “It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. ” But these inconsistencies pose significant challenges to managing credit risk at financial institutions. • Applying regulatory guidance : Standards are often not applied consistently across the portfolio, e.g. risk rating score. MORE
1) would focus on seven areas, although it noted strategies for individual banks will vary based on the institution’s size, complexity and risk profile. MORE
Across personal and professional platforms, bankers have experience with managing passwords to online services. Yet given the confidential nature of data often stored in web-based lending, credit risk and portfolio risk solutions, bankers have to pay special attention to potential weaknesses in password management. Managing Online Passwords “Treat your password like your toothbrush….”advised MORE
But what has this got to do with risk management I hear you ask? It requires calculating sensitivities of the non-cleared trades to a large set of market risk factors on a daily basis. At school, we were taught classical physics. MORE
IBM OpenPages is again in the Leader’s quadrant of the new 2018 Gartner Magic Quadrant for Integrated Risk Management (IRM). Today, the Integrated Risk Management market is undeniably one to watch for industry observers. MORE
19) that it has inked a partnership deal with Feedzai, an artificial intelligence (AI) developer for real-time risk management across banking and commerce. Citi’s Treasury and Trade Solutions (TTS) announced on Wednesday (Dec. MORE
Sageworks hosted the 5th Annual Risk Management Summit September 14-16 at the AT&T Executive Education and Conference Center in Austin, Texas. Sageworks Risk Management Summit by the numbers: Attendees : 240 Financial Institutions : 128 For a complete list of lessons learned about CECL and loan portfolio risk management, visit 2016 Summit Takeaways. MORE
Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. According to a report in The Wall Street Journal citing employees and an internal memo that was described to the paper, Wells Fargo also let employees know about the reorganization to better manage risk. MORE
Enforcement actions Compliance Data security Risk management USAA OCC CFPBThe enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests. MORE
Cross-border operations can expose companies to an array of risks, including foreign exchange risk. According to Western Union, its newest tool for Hong Kong SMEs provides capabilities for favorable currency movements, reports said, while hedging against risk in the case of unfavorable FX fluctuations. Earnings cambridge global currency fluctuations earnings foreign exchange hedging Netflix News risk management Turkey MORE
Risk has rewards in all parts of life, but especially in business, where shrewd risk-taking and planning accrues to the bottom line. However, managing foreign exchange (FX) risk is part of the territory — and, as he told PYMNTS, a calculated approach to currency exposure is key. MORE
More than 140 bankers and industry experts from over 30 states gathered in Nashville, Tennessee last month for the 3rd annual Risk Management Summit hosted by Sageworks. MORE
Fusion Risk Management is expanding its corporate risk management software offering by integrating new functionality into the tool, the company said in a press release on Monday (Sept. The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process. MORE
In a recent Sageworks webinar Robert Ashbaugh, senior risk management consultant at Sageworks, discusses High Volatility Commercial Real Estate (HVCRE) lending best practices. MORE
It’s the role of a CEO in any industry to manage necessary business risks and eliminate unnecessary ones. Financial institution CEOs have to do so in an environment that’s fraught with risk from multiple sources. Bank CEOs are a worrisome bunch, and really, who could blame them? MORE
But the slew of banking regulatory requirements for third party risk management is proving to be complex, all-consuming and expensive for both institutions and the third parties involved. MORE
It is the nature of finance that, at its core, is risk. Insurance is all about covering yourself for the risk of uncertainty. You don’t you’ll have a car accident but, just … The post AI in banking is all about risk management appeared first on Chris Skinner's blog. MORE
Following three successful years in Nashville, Tennessee, the 2015 Risk Management Summit heads to a new city this September. MORE
Marry tech and talent, then risk management can pay dividends, notes an upcoming PYMNTS webinar. Not only is regulatory oversight on the rise, but social media has emerged as a strong watchdog, too, keeping financial institutions (FIs) mindful of unchartered territory, where risks to reputation and revenues abound. At the same time, risk and compliance professionals still are inundated with manual tasks. Taking on more risk? MORE
The 2017 Risk Management Summit presented by Sageworks is set for September 25-27th in Denver, CO. The Summit is the industry’s leading life-of-loan conference, spanning loan origination through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas. MORE
It is my privilege to be part of the judging panel for Celent Model Bank Awards for 2017 for the following three categories: Fraud Management and Cybersecurity – for the most creative and effective approach to fraud management or cybersecurity. Risk Management – for the most impressive initiative to improve enterprise risk management. MORE
The Division of Credit Unions wrote that it will analyze credit unions with low liquidity levels to ensure that they have other sources of contingency liquidity to safely manage liquidity pressure. MORE
The 2017 Risk Management Summit presented by Sageworks is heading to the "Mile High City". Why You Should Join Us The Summit offers actionable insights that apply across the whole institution, spanning business development through portfolio risk management in a CECL world. MORE
Cybersecurity risk is at or near the top of every list of concerns for these institutions. Three pillars of cyber risk management on the cloud. A properly deployed and administered solution for managing cyber risk consists of three main pillars. MORE
Let’s face it: owning and running a business is MORE
The hundreds of people attending the 2017 Risk Management Summit hosted by Sageworks heard from dozens of thought leaders in the financial services industry. They learned how to prepare for the current expected credit loss model (CECL) and leverage the change to better manage the business, and they found out about new perspectives for improving lending processes and risk management. Stress testing can be used for more than just managing CRE concentration risk. MORE
But new research from treasury management firm Kyriba suggests treasurers and CFOs are falling short in delivering on some of the top priorities of the corporate board. More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. Beyond fraud management, Kyriba identified several areas in which boards are eager to collaborate with CFOs and gain their expertise. MORE
Because NCUA has created significant enterprise risk for the agency through its actions - and lack there of - over the last six years, endangering its staff, credit unions, and the future of the agency itself. The "enterprise" is at substantial risk. MORE
Two risk managers were discussing their fear of flying and crashing to their deaths in an airplane. One of the risk managers stated that he had a morbid fear of being on a plane that is blown up by an onboard bomb. said the second risk manager. MORE
In today’s heavily regulated financial climate, banks and financial institutions are relying more heavily on models—to help measure and manage their exposure to risk, and to help manage the overall business. These models are used in every aspect of risk. MORE
Managing Risk FeaturedIn my last post, we talked about the burning platform facing banks in North America: digital disruption. New competitors are crafting digital business models that disrupt traditional banking, at a time when banks in North America are hesitant about increasing. MORE
Risk Management Related Topics PYMNTS
NOVEMBER 30, 2018
Understanding risk, particularly its sources and how to most effectively manage it, is one of the most fundamentally important topics in payments for those who provide services and those who use them. That precipitates the need to have new ways of look at risk management.”.
Insights on Business
JANUARY 8, 2019
But what has this got to do with risk management I hear you ask? It requires calculating sensitivities of the non-cleared trades to a large set of market risk factors on a daily basis. At school, we were taught classical physics.
PYMNTS
JUNE 25, 2018
Marry tech and talent, then risk management can pay dividends, notes an upcoming PYMNTS webinar. Not only is regulatory oversight on the rise, but social media has emerged as a strong watchdog, too, keeping financial institutions (FIs) mindful of unchartered territory, where risks to reputation and revenues abound. At the same time, risk and compliance professionals still are inundated with manual tasks. Taking on more risk?
Insights on Business
JANUARY 3, 2019
Cybersecurity risk is at or near the top of every list of concerns for these institutions. Three pillars of cyber risk management on the cloud. A properly deployed and administered solution for managing cyber risk consists of three main pillars.
PYMNTS
SEPTEMBER 25, 2018
Fusion Risk Management is expanding its corporate risk management software offering by integrating new functionality into the tool, the company said in a press release on Monday (Sept. The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process.
Banker to Banker
AUGUST 5, 2015
Two risk managers were discussing their fear of flying and crashing to their deaths in an airplane. One of the risk managers stated that he had a morbid fear of being on a plane that is blown up by an onboard bomb. said the second risk manager.
Accenture
SEPTEMBER 25, 2015
In my previous post we looked at the importance of crafting the right digitally-enabled risk management approach—a forward-looking strategy that helps encompass the rapid pace of technology change. Managing Risk Featured Risk management bank risk management risk management strategy
Insights on Business
OCTOBER 11, 2018
IBM OpenPages is again in the Leader’s quadrant of the new 2018 Gartner Magic Quadrant for Integrated Risk Management (IRM). Today, the Integrated Risk Management market is undeniably one to watch for industry observers.
Celent Banking
DECEMBER 13, 2016
But the slew of banking regulatory requirements for third party risk management is proving to be complex, all-consuming and expensive for both institutions and the third parties involved.
Banker to Banker
APRIL 28, 2016
There is a trendy restaurant in New York City that temporarily changed its menu to serve food composed entirely of garbage. The idea was to highlight the amount of food that is wasted worldwide.
Chris Skinner
OCTOBER 31, 2017
It is the nature of finance that, at its core, is risk. Insurance is all about covering yourself for the risk of uncertainty. You don’t you’ll have a car accident but, just … The post AI in banking is all about risk management appeared first on Chris Skinner's blog.
Accenture
NOVEMBER 6, 2015
In today’s heavily regulated financial climate, banks and financial institutions are relying more heavily on models—to help measure and manage their exposure to risk, and to help manage the overall business. These models are used in every aspect of risk.
Insights on Business
NOVEMBER 28, 2018
While other industries are moving beyond the use of the internet as a communications channel and deploying business applications on the cloud, most of the core banking applications still run inside company-owned and managed data centers.
Sageworks
JULY 13, 2017
The 2017 Risk Management Summit presented by Sageworks is set for September 25-27th in Denver, CO. The Summit is the industry’s leading life-of-loan conference, spanning loan origination through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas.
PYMNTS
AUGUST 24, 2018
Cross-border operations can expose companies to an array of risks, including foreign exchange risk. According to Western Union, its newest tool for Hong Kong SMEs provides capabilities for favorable currency movements, reports said, while hedging against risk in the case of unfavorable FX fluctuations. Earnings cambridge global currency fluctuations earnings foreign exchange hedging Netflix News risk management Turkey
Sageworks
MARCH 22, 2017
The 2017 Risk Management Summit presented by Sageworks is set for September 25-27th in Denver, CO. The Summit is the industry’s leading life-of-loan conference, spanning business development through portfolio risk management in a CECL - current expected credit loss - world. In September 2016, more than 240 bankers and industry experts from both community banks and credit unions attended the Risk Management Summit in Austin, Texas.
PYMNTS
DECEMBER 19, 2018
19) that it has inked a partnership deal with Feedzai, an artificial intelligence (AI) developer for real-time risk management across banking and commerce. Citi’s Treasury and Trade Solutions (TTS) announced on Wednesday (Dec.
PYMNTS
MARCH 26, 2018
Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. According to a report in The Wall Street Journal citing employees and an internal memo that was described to the paper, Wells Fargo also let employees know about the reorganization to better manage risk.
Sageworks
OCTOBER 14, 2014
When it comes to the risk management process, there is no one-size-fits-all approach. “It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. ” But these inconsistencies pose significant challenges to managing credit risk at financial institutions. • Applying regulatory guidance : Standards are often not applied consistently across the portfolio, e.g. risk rating score.
FICO
APRIL 10, 2019
It can be a wake-up call for an organization to obtain its cyber risk score and learn it is not as prepared for a data breach as it thought it was. As companies learn their FICO Cyber Risk Score, it raises the question: What are our recommendations for cyber risk management?
Sageworks
SEPTEMBER 29, 2016
Sageworks hosted the 5th Annual Risk Management Summit September 14-16 at the AT&T Executive Education and Conference Center in Austin, Texas. Sageworks Risk Management Summit by the numbers: Attendees : 240 Financial Institutions : 128 For a complete list of lessons learned about CECL and loan portfolio risk management, visit 2016 Summit Takeaways.
Sageworks
MAY 19, 2016
1) would focus on seven areas, although it noted strategies for individual banks will vary based on the institution’s size, complexity and risk profile.
BankNXT
OCTOBER 31, 2017
Chris Skinner reveals that risk management is where big banks feel most comfortable. Artificial intelligence in banking is all about risk management on BankNXT. Banking artificial intelligence risk management
Insights on Business
JULY 20, 2018
When IBM acquired OpenPages in 2010, it was widely recognized as a pioneer and market leader in governance, risk and compliance software. Since the acquisition in 2010, IBM has continued to drive innovation and leadership in risk and compliance and industry leaders have taken note.
PYMNTS
SEPTEMBER 13, 2018
In a new PYMNTS interview , Karl Schamotta, regional director of risk management solutions at Cambridge Global , which sells currency hedging and related services — tasks that have recently assumed greater importance in eCommerce and other industries because of the stronger U.S. You can be sure risk management will continue to gain importance. Market Conditions agriculture cambridge global currency hedging farmers Karl Schamotta Netflix risk management
Sageworks
JULY 6, 2017
The 2017 Risk Management Summit presented by Sageworks is heading to the "Mile High City". Why You Should Join Us The Summit offers actionable insights that apply across the whole institution, spanning business development through portfolio risk management in a CECL world.
Sageworks
JULY 25, 2017
In a recent Sageworks webinar Robert Ashbaugh, senior risk management consultant at Sageworks, discusses High Volatility Commercial Real Estate (HVCRE) lending best practices.
Cal Bank Trust
FEBRUARY 23, 2016
Let’s face it: owning and running a business is
Celent Banking
MARCH 4, 2017
It is my privilege to be part of the judging panel for Celent Model Bank Awards for 2017 for the following three categories: Fraud Management and Cybersecurity – for the most creative and effective approach to fraud management or cybersecurity. Risk Management – for the most impressive initiative to improve enterprise risk management.
BankThink
FEBRUARY 15, 2019
Enforcement actions Compliance Data security Risk management USAA OCC CFPBThe enforcement action from the OCC comes on the heels of a CFPB consent order that said USAA reopened customers' accounts without consent and neglected stop-payment requests.
Sageworks
SEPTEMBER 27, 2017
The hundreds of people attending the 2017 Risk Management Summit hosted by Sageworks heard from dozens of thought leaders in the financial services industry. They learned how to prepare for the current expected credit loss model (CECL) and leverage the change to better manage the business, and they found out about new perspectives for improving lending processes and risk management. Stress testing can be used for more than just managing CRE concentration risk.
Sageworks
OCTOBER 26, 2016
Across personal and professional platforms, bankers have experience with managing passwords to online services. Yet given the confidential nature of data often stored in web-based lending, credit risk and portfolio risk solutions, bankers have to pay special attention to potential weaknesses in password management. Managing Online Passwords “Treat your password like your toothbrush….”advised
Sageworks
JANUARY 27, 2015
Following three successful years in Nashville, Tennessee, the 2015 Risk Management Summit heads to a new city this September.
Sageworks
FEBRUARY 3, 2016
Sageworks recently announced the dates and location for the 2016 Risk Management Summit. Last year, more than 200 bankers and industry experts gathered in Chicago for the 2015 Risk Management Summit.
BankThink
MARCH 4, 2019
Maria Teresa Tejada joined the bank Monday as chief strategic enterprise risk officer. Risk management Compliance Tim Sloan Wells Fargo
ForwardBanker
DECEMBER 6, 2017
It’s the role of a CEO in any industry to manage necessary business risks and eliminate unnecessary ones. Financial institution CEOs have to do so in an environment that’s fraught with risk from multiple sources. Bank CEOs are a worrisome bunch, and really, who could blame them?
PYMNTS
NOVEMBER 9, 2017
But new research from treasury management firm Kyriba suggests treasurers and CFOs are falling short in delivering on some of the top priorities of the corporate board. More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. Beyond fraud management, Kyriba identified several areas in which boards are eager to collaborate with CFOs and gain their expertise.
Jim Blaine
NOVEMBER 22, 2016
Because NCUA has created significant enterprise risk for the agency through its actions - and lack there of - over the last six years, endangering its staff, credit unions, and the future of the agency itself. The "enterprise" is at substantial risk.
Keith Leggett's Credit Union Watch
SEPTEMBER 25, 2018
The Division of Credit Unions wrote that it will analyze credit unions with low liquidity levels to ensure that they have other sources of contingency liquidity to safely manage liquidity pressure.
Sageworks
OCTOBER 11, 2014
More than 140 bankers and industry experts from over 30 states gathered in Nashville, Tennessee last month for the 3rd annual Risk Management Summit hosted by Sageworks.
Sageworks
AUGUST 28, 2015
The 2015 Risk Management Summit is less than a month away. Here’s why this is the most popular Risk Management Summit to date: 1. To learn more about the 2015 Risk Management Summit, or to register, visit sageworks.com/summit.
Sageworks
JUNE 8, 2017
A recent whitepaper from CEIS Review , Independent Loan Review – An Essential Tool , discusses why banks and credit unions should be sure to conduct regular reviews of their loan portfolio: “the fundamental purpose of the program is to monitor the risk and administration of an institution’s largest financial asset—the loan portfolio—and to make sure that the loan portfolio is staying on course with the direction set forth by senior management and the board”.
Accenture
JUNE 29, 2015
Managing Risk FeaturedIn my last post, we talked about the burning platform facing banks in North America: digital disruption. New competitors are crafting digital business models that disrupt traditional banking, at a time when banks in North America are hesitant about increasing.
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