Banks can manage third-party vendor risk through interbank collaboration, thorough due diligence and periodic reviews of the vendor’s performance.
Bankers may be underreacting to embedded and emerging credit risks as the economy normalizes, according to presenters at Bank Director’s Bank Audit & Risk Committees Conference, held Oct 25 to 27.
If the first line of defense in the credit risk management program underperforms, all three lines — and the bank — suffer.
Banks should be aware of several trends in the current fraud landscape to prevent loss and stay a step ahead of financial crime.
Discussions around ESG are increasing, and banks should be prepared to share how they intend to embrace these initiatives.
Banks should evaluate the tradeoffs and potential returns that come with offering fixed-rate loans and explore alternative solutions to address margin pressure.
While many community banks draw director talent from their geographic markets, they may want to consider directors that are remote but bring essential skills, experiences and perspectives.
Every bank likely has exposure to cryptocurrency in some capacity; savvy institutions will ensure they understand their current exposure.
Banks should be aware of and prepare for several important updates in anti-money laundering regulations this year.
Banks can choose to view compliance as an integrated part of the data management process, increasing efficiency, improving the customer experience and making the institution safer.