For Your Review

Evaluating Onboarding Practices

Is your onboarding process adequately preparing new directors for the task of overseeing a bank? Bank Director’s 2024 Governance Best Practices Survey, conducted in May and June, reveals potential areas where boards may be able to improve their onboarding practices for new directors. For example, just 21% of bank executives and directors surveyed said their organization pairs recent recruits with a mentor or coach. That’s a missed opportunity to help new directors quickly acclimate to the board’s culture and way of doing things, says Robert Maddox, a partner with the law firm Bradley Arant Boult Cummings LLP, which sponsored the…

Financial Regulators Will Retire Cybersecurity Assessment Tool

The Federal Financial Institutions Examination Council will retire a popular cybersecurity assessment tool after a decade in use, reflecting shifts in the way banks handle cybersecurity risk. Released in mid-2015, the CAT is a voluntary tool for financial institutions to gauge their organization’s inherent risk profile and the maturity of its cybersecurity program. The tool asks users to evaluate factors like risk in their bank’s connections, technologies and service delivery channels, and risk oversight at the board level. More than half (54%) of bank executives and directors who participated in Bank Director’s 2023 Risk Survey indicated they used the FFIEC’s…

YOU HAVE ACCESSED A RESOURCE THAT IS ONLY AVAILABLE TO OUR BANK SERVICES MEMBERS AND SUBSCRIBERS.

From how-to articles, director training videos, key interviews with industry leaders and more, Bank Services provides bank executives and directors with the tools to help grow their financial institutions. To sign up for exclusive access to this online bank board resource, please contact Bank Services at 615-777-8461 or [email protected].

READ THE ARTICLE

Magazine Subscribers please enter your email and password below.

BANK SERVICES members please login .

WRITTEN BY

Laura Alix

Director of Research

Laura Alix is the Director of Research at Bank Director, where she collaborates on strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for BankDirector.com and edits online video content. Laura is particularly interested in workforce management and retention strategies, environmental, social and governance issues, and fraud. She has previously covered national and regional banks for American Banker and community banks and credit unions for Banker & Tradesman. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College.