Items include
- 3 Webinars
- 240 BID Newsletters
risk management
Webinars
Oct 16, 2019
A new accounting standard means lots of changes, including how qualitative factors (Q Factors) apply. In this webinar, gain an understanding of Q Factors with CECL, and learn how they need to be applied under CECL compared to the incurred loss model.
Jan 26, 2022
In this virtual roundtable with a panel of community financial institution executives, we explored their journey of implementing CECL. Here are the strategies, lessons learned and insights that they can share with their peers based on their implementation journey.
Nov 14, 2017
Join PCBB as we work through live examples of different methods and evaluate the pros and cons.
Feb 26, 2024
Despite advances in technology, check fraud is on the rise across the US. Given the significant impact on CFIs and their customers, we suggest ways in which CFIs can reduce exposure to fraudulent activity.
Dec 5, 2024
Major financial institutions like Bank of America and TD Bank illustrate the risks of falling short on anti-money laundering oversight. We look at how CFIs can learn from their missteps to strengthen compliance efforts.
Dec 2, 2024
As regulatory oversight of BaaS increases, CFIs need to be aware of the risks in their third-party relationships. We provide examples of BaaS flubs and how to avoid them.
Nov 25, 2024
Bankers are more concerned about cyber fraud this year than in 2023. We look at top operational and cyber risks facing CFIs and suggest how to prepare for and prevent cybercrime.
Nov 20, 2024
Attacks on Domain Name Systems are rampant and can result in major problems. A compromised domain name can cause myriad headaches for both the company and its customers.
Oct 24, 2024
While asset quality is strong, rising charge-offs in CRE and credit cards suggest it’s time for CFIs to revisit risk management strategies. We discuss the trend and responses to consider.
Oct 21, 2024
The 2024 CSBS Annual Survey of Community Banks reports regulatory burdens, cost of funds, and cybersecurity as the top challenges facing community bankers. We highlight the survey’s key findings.
Oct 9, 2024
We talk with PCBB CEO Curt Hecker to get his take on strategic priorities for 2025 and beyond. We discuss fintech partnerships, risk management, leadership qualities, and more.
Sep 18, 2024
We invited Kendra Ramirez, CEO of KR Digital Agency and an AI strategy leader, to address common employee qualms regarding AI and how to create a robust AI policy.
Sep 19, 2024
CFIs are making ground protecting themselves and customers against digital threats, but they also face physical security issues. Here’s what CFIs should do to assess and improve their physical safety.
Sep 5, 2024
P2P payments have become increasingly popular, but their most convenient attributes also make them ripe targets for fraud. We discuss tips CFIs can provide customers to avoid becoming victims.
Mar 20, 2023
Zelle is reworking its refund policy regarding fraud, a change that could potentially prove costly for CFIs. Before jumping ship from Zelle, however, organizations need to be aware of both the benefits and drawbacks of the service and how customers would react to losing the payment service.
Aug 21, 2023
Online fraud is on the rise, along with criminals’ success rate in duping companies out of money. Yet, small businesses are not allocating sufficient funding to fraud prevention. As CFOs begin to step up security investments, a major area they should focus on is their AR & AP processes.
Feb 14, 2022
The number of SARs filed by depository institutions regarding elder financial exploitation rose 67% between 2017 and 2020. As community financial institutions strive to stem senior financial abuse, this issue will only continue as the population is aging. We explain other factors in play and provide three defenses to combat elder financial abuse.
Nov 29, 2021
OTP fraud is a new threat that community financial institutions need to know about. One-time passwords (OTP) are intercepted by cyberthieves allowing them access to financial accounts clandestinely. With two-factor authentication more widespread, cybercrime services have seen entry points and cyberthieves have jumped in. Here is a summary of OTP fraud and what you should do about it.
Nov 4, 2021
Senior citizens have often been the target of fraudsters. Yet, 2020 was a record year for this segment who was more isolated physically and more active digitally. Total fraud losses for seniors reached $1B last year and affected over 100K victims. Here are some of the top scams along with key communication points to pass on to your senior customers.
Feb 12, 2020
Employee financial crime can happen even in small businesses, such as community financial institutions. We provide some important reminders.
Jul 22, 2019
Banks need to vigilantly train on the signs of elder abuse. We provide additional resources to help.
May 24, 2019
Occupational fraud is the biggest threat facing small businesses. What you and your business customers should know.
Jul 12, 2018
One online payments expert sees fraud growing at an even faster rate than digital sales. With all of this in mind, what can community banks do?
Mar 1, 2018
As banks try to help fraud victims, they may be hampered by the very customers they are trying to protect. Interesting insights your bank could leverage.
Dec 21, 2017
A recent survey found 60% of bank customers who experienced fraud discovered the issue before their banks told them about it. What can banks learn from this?
Aug 5, 2024
Discover how Enterprise Risk Management (ERM) can transform your CFI by holistically addressing risks and uncovering opportunities. Learn essential ERM framework components, risk assessment tips, and strategies for effective implementation.
Jul 23, 2024
Recent infrastructure failures emphasize the need for robust business resumption plans in banking. We look at eleven practical tips for enhancing business continuity and disaster relief plans, ensuring operational resilience and maintaining client trust during disruptions.
Jul 1, 2024
The Federal Reserve recently published the results of its 2023 pilot climate scenario analysis conducted with six of the largest US banks. We discuss some of the Fed's key findings.
Jun 24, 2024
CFIs of all sizes employ various strategies to successfully prevent and detect check fraud. But could another strategy be to go upstream and encourage business customers to adopt digital payments?
May 1, 2024
The results are in, and according to the Bank Director’s 2024 Risk Survey, the banking industry’s top challenges center around deposit pricing, liquidity management, and regulatory requirements. We review the survey’s findings to uncover the factors driving these challenges forward.
Mar 28, 2024
The Federal Reserve has released its 2024 stress testing scenarios: its primary tool to assess the largest banks’ fiscal health resiliency by estimating losses, net revenue, and capital levels under hypothetical recession scenarios. This year’s severely adverse scenario includes unemployment reaching 10%, a widening spread on corporate bonds, and dramatic declines in asset prices. We summarize the scenarios and determine how they can help CFIs devise their own tests to improve their capital planning and risk management.
Apr 1, 2024
Partnering with fintechs is a good way for CFIs to quickly enhance their online services and offerings. But such partnerships can also create unintended risks for CFIs, a reality that has spurred regulators to step up oversight in this area.
Feb 21, 2024
The OCC recently published its autumn statement on key risks facing the federal banking system. We summarize these risks and suggest ways CFIs can mitigate them to improve their institution’s resilience.
Nov 14, 2023
Bank bottom lines have started to slip. The challenge going forward is to maintain favorable results by actively managing risks. We unveil four threats to your profit in the current market and how they’re already impacting the banking industry.
Oct 18, 2023
The Fed wants to make sure that all banks are aware of how the Fed Discount Window works and what it can offer during a crisis. Many small banks had problems using the Discount Window during the recent cash crunch. We summarize the Fed’s new tips to ensure a smooth Fed Discount Window borrowing experience.
Sep 21, 2023
This is the second part of our summary of the FDIC 2023 Risk Review. We take a closer look at the FDIC’s findings on potential credit risks for the banking industry and community financial institutions.
Sep 20, 2023
The FDIC recently published its 2023 Risk Review. In the first article of this two-part series, we summarize the report highlights related to the economic, financial markets, and banking industry conditions over the past year. We also discuss key market, operational, and climate-related financial risks and their potential impact on CFIs.
Sep 11, 2023
Responding to rising levels of CRE loans and recent bank failures, the FDIC has issued new guidance on risks. We review portfolio concentration red flags and risk factors.
Jul 20, 2023
Amidst a handful of bank collapses and ongoing economic uncertainty, the Financial Stability Oversight Council has proposed rule changes that would make it easier to regulate and classify non-bank organizations as systemically risky.
Jun 13, 2023
FinCEN issued an updated beneficial ownership information rule to more effectively deter criminals from using shell companies to launder money and perform other nefarious activities. How does this updated rule impact financial institutions? We delve into what we know so far.
Jun 8, 2023
Establishing a system of checks and balances is a helpful way to reduce errors and detect and prevent fraud within your company. For many organizations, creating a segregation of duties that relies on multiple employees to conduct internal audits and ensure processes are being followed properly is critical for risk management.
May 25, 2023
Regulators in the US and abroad are taking a closer look at the climate-related risks that financial institutions face, and are preparing to enhance regulatory requirements on this front. In the first installment of this 2-part series, we’ll explore how climate risk is being approached by banking regulators around the world.
Oct 20, 2021
When bankers think of CECL, greater efficiencies may not come to mind immediately. Yet, as community financial institutions work through the CECL implementation they are realizing that CECL gives them an opportunity to achieve greater efficiencies for the future. In our podcast, Banking Out Loud, Andy Hines of Bank of Glen Burnie brought this up and we explore this topic further today.
Feb 2, 2022
Recently, the OCC released its annual report on the federal banking system’s condition. Although the average capital levels were good and the federal banking system’s liquidity ratio was more than 3x the historical average, certain risks in the industry have increased. We give you some of the report highlights, including three important areas of focus for increased risk.
Feb 7, 2022
While most big and mid-sized banks have already implemented the new CECL standard, many community financial institutions are waiting until their deadline of January 1, 2023. Yet, there is a lot to do this year to ensure you are compliant, including running CECL in parallel. Here are three guiding principles that we recommend to keep you on track as you perform your parallel runs.
Mar 29, 2022
The deadline for CECL has not been extended and January 1, 2023, is coming up fast. Are you ready? One specific area of focus for many bankers is using Q Factors consistently. While Q Factors aren’t new, their expected application in CECL is more involved. Here are four Q Factor best practices to prepare you.
Feb 12, 2021
CECL hasn’t been at the forefront of bankers’ minds given the pandemic. However, it is still happening and auditors and examiners will be asking questions about CECL. One area to think about is how CECL will affect your institution’s securities. We give you insight into CECL and HTM, AFS, and trading securities.
Jan 4, 2021
As we welcome in the new year, there are several regulatory areas to pay extra attention to. We cover COVID-19 flexibility, CECL implementation efforts, the LIBOR transition, CRA changes, and more.
Nov 23, 2020
With the pandemic, CECL may not be top of mind. So, we have three considerations to keep you on track.
Mar 16, 2020
The big banks are reporting on their CECL reserve. Community financial institutions can learn from what they are sharing.
Mar 3, 2020
Investors are already making adjustments to market valuations, based on how much they project CECL will affect the loan portfolio. Be prepared.
Feb 20, 2020
Like other financial institutions, FNMA and FHLMC must follow the rules of CECL. Yet, if these two GSEs adopt CECL compliance all at once, it could mean withdrawing billions of taxpayer dollars from the Treasury in 2020.
Jan 9, 2020
While CECL is delayed, that's not a reason for your financial institution to sit on its hands.
Nov 12, 2019
As big banks start finalizing numbers for CECL, other financial institutions can learn from their findings. We report on some of these findings.
Oct 16, 2019
As you analyze the risk of CECL and its impact, we offer our final AICPA article covering the key message--don't delay.
Oct 9, 2019
Today we discuss why it is important to have a new perspective with CECL, in the second article of the AICPA series. Check back next Wednesday for the third and final article.
Oct 2, 2019
The AICPA provided tips on CECL through its practice guide. We break it down for you in the first of three articles.
Check back next Wednesday for part two of the series.
Sep 18, 2019
For CECL, banks must assess risk over the life of a loan. Getting enough data for that can be a challenge. We provide help.
Aug 15, 2019
The purpose of Q factors doesn't change in the adjustment from Incurred Loss to CECL. However, there is a big difference in how the CECL standards treat Q factors.
Jul 29, 2019
FASB has made it clear that CECL is complex enough to propose extending the deadline. Knowing that, we provide you with a few things to remember as you assess your timeline.
Jul 23, 2019
As every banker has heard, FASB made a big announcement on CECL last week. We answer an important question many bankers are asking.
Jul 15, 2019
The American Institute of CPAs is planning to shed some light in its upcoming release of guidance on CECL. As the only bank in the AICPA Task Force Meetings, we share some thoughts on the main points covered.
Jul 8, 2019
Optionality can be challenging with CECL. We provide some tips to address the optionality of prepayments for your CECL calculations.
Jun 26, 2019
To some community banks, WARM looks like a simple way to extrapolate current loss rates over the required life of a loan for CECL. However, there are limitations to consider.
May 8, 2019
Although CECL has been around for some time, there are still questions around method selection. We walk you through it.
May 1, 2019
There is never a dull moment with #CECL. Get the latest FAQs published by the FDIC compiled based on ongoing questions, new developments and recent updates.
Apr 5, 2019
To implement CECL, your bank will need a dry run to see how your loans and allowances will fare under the new loss-accounting standard.
Mar 18, 2019
For bankers coming to the end of their CECL build phase and now seeing dry runs of reports, some may find dialog with investors picking up too. We explain how to set up your communication strategy.
Mar 11, 2019
We have recently heard that some banks are considering using Weighted Average Remaining Maturity (WARM) for their CECL calculations. Is WARM right for CECL?
Jan 8, 2019
There is a lot of information out there on CECL. We provide you with the Top 5 Things to Remember as you get ready for implementation.
Aug 20, 2018
As CECL draws closer, only 3% of community banks are ready to implement it. A new survey from RMA shows what banks are doing and covers some of their biggest concerns.
May 16, 2018
CECL is ticking closer. We provide you with some questions your examiners may ask around CECL during your next exam to prepare you.
May 9, 2018
CECL is coming and bank management will need to answer questions from its board of directors as they prepare. Here are some questions to expect.
Apr 20, 2018
One of the keys to CECL is understanding how each method works. We give you important information and resources on this.
Dec 28, 2017
It seems everywhere we turn these days, we hear about CECL. What your bank should know and how to prepare.
Dec 8, 2017
CECL is coming and community banks may need to look for outside assistance. What key attributes should your bank use to assess CECL vendors?
Nov 29, 2017
CECL and life of loan may lead bankers to consider shortening loan duration. But, that may not always be the best strategy.
Nov 16, 2017
Lately, bankers are trying to get their hands around the Current Expected Credit Loss (CECL) standard. Some tips to get you started.
Oct 31, 2017
Regulators published their latest CECL FAQs. Check out our quick reference of this document.
May 30, 2023
Climate change creates a carousel of risks for CFIs. In this follow-up to last week’s article on global climate risk financial regulations, we discuss US regulators’ plans to assess climate-based risks. We’ll also provide insight on how your team can mitigate these risks by predicting, strategizing, and implementing scenarios and strategies before disaster hits.
May 18, 2023
Managing further economic downturns, liquidity, and cybersecurity are just a few of the many concerns at the forefront of bank leaders’ minds, according to Bank Director’s 2023 Risk Survey. We summarize some of the key findings and suggest ways for CFIs to mitigate the challenges.
May 11, 2023
Social media and self-service tools that let customers access and move money both played a role in recent bank failures. While these types of technology are important parts of any CFI’s toolkit, they also add risk for organizations. We provide five tips to help manage these risks.
Sep 4, 2020
Our readers asked us about rethinking security plans, attracting Gen Z customers, and customer profitability. We provide our insight on these topics.
May 30, 2019
Can Marie Kondo, the Queen of Tidying-up, provide bankers with important lessons on efficiency, performance and profitability?
Jun 12, 2018
LIBOR is the largest floating rate index in the world and underpins an estimated $200T in financial instruments. Today, we look at how banks can leverage its increase.
Oct 13, 2022
Financial institutions are turning to interest rate swaps and other derivatives to hedge against rising interest rates and to offer customers greater flexibility when structuring loans. As customers try to fix borrowing costs amid rising interest rates, swaps are something your CFI might want to consider.
Aug 21, 2019
It's been nearly four months since the yield curve inverted for the first time in nearly 12Ys. What should your institution be doing now to protect itself?
Aug 14, 2019
Implementing a hedging strategy involves many elements, such as determining the economic risks your bank faces. We walk you through it.
May 17, 2019
Valued for their flexibility, forward rate lock agreements can be customized to fit the requirements of both your bank and your borrower. We explain how.
May 6, 2019
Seven things you can do to help ensure your bank meets regulatory expectations for your ALM program.
Apr 23, 2019
Financial hedges are a bit like shock absorbers on a car. They can help reduce the volatility or bumps a bank may experience. But, you need a good hedging plan to ensure success.
Mar 21, 2019
Many community banks tell us that in this rate environment, plenty of commercial customers seek the stability of a fixed loan coupon. We show you how to do this as a win-win for both your bank and your customer.
Jan 4, 2018
During this period of increasing rates, it will be particularly important how a bank positions its deposit portfolio and sets its growth strategies. Some things to consider for your bank.
Feb 1, 2021
SIM swapping has increased sharply over the past years. In order to keep their customers safe, community financial institutions need to take proactive and preventative measures, including communicating with customers through two independent means on transactions, warning of red flags, and advising on safe social media usage.
Feb 17, 2023
RegTech can help CFIs handle compliance-related tasks, manage vendors, and arrange records so they’re easily searchable and accessible. We look at RegTech and its uses that you might consider for your own institution.
Feb 28, 2023
As AI becomes an increasingly important component of the financial world, regulators are stepping up their oversight of its risks. Now is the time for CFIs to look at potential risks that may exist within their AI programs and pre-emptively look for ways to mitigate any risks in anticipation of heightened regulatory oversight.
Mar 9, 2023
As regulators shift their focus areas for this year’s audits, CFIs should pay particular attention to the new areas that have caught the eyes of regulatory agencies. Knowing what each particular regulator is focusing can be key to acing regulatory exams.
Dec 9, 2021
The Financial Stability Oversight Council (FSOC) recently released its report on climate-related financial risk. It details how the council, including regulators, will be assessing these risks, which have become more integral with many of the activities of the financial institutions that they supervise. Here is an update on the progress of climate-related risk regulations, along with three ways community financial institutions can prepare.
Feb 19, 2021
Regulators are actively working on climate risk guidance to assist examiners during exams. Even without that, however, financial institutions are expected to address these risks. We provide you with three steps to better prepare you: review regulatory statements, analyze various portfolio risks, and check-in with third-party vendors and partners.
Sep 22, 2020
A strong complaint-management program is essential. We cover four key areas as a refresher.
Feb 18, 2020
We uncover some thought-provoking points of interest from a recent risk management survey.
Nov 6, 2019
Today, we offer some thoughts around best practices to ensure your bank is not only following regulations--but also minimizing risk.
Oct 29, 2019
The new Part VI of the FDIC policy manual provides good insight before your next exam. We give you the highlights.
Sep 3, 2019
In this month's "Inquiry and Insight" issue, Steve Brown answers questions on new products, data loss prevention and SARs.
Aug 28, 2019
While ERM is not required for most community banks, more are choosing to implement such programs as a means to reduce risk and increase profits.
Aug 26, 2019
The Fed issued a regulatory letter recently that advised its examiners to use new Bank Exams Tailored to Risk (BETR) metrics in determining how deep to probe a community or regional bank. Could this help your financial institution?
Jun 11, 2019
The issue of what constitutes age discrimination has been and continues to be adjudicated in the courts and the issue is only likely to percolate more given the overall aging of the entire workforce. We provide some tips to stay compliant.
May 16, 2019
The Risk Management Association recently published the results of its latest regulatory survey. We provide you with a summary of the findings.
Mar 8, 2019
We provide you with some things to consider when evaluating the adequacy of your ALM process, as you prepare for your next regulatory exam.
Feb 11, 2019
When it comes to targeting businesses that offer hemp products, things are shifting so bankers should be aware. A new farm bill legalizes hemp, but there are still challenges out there for bankers.
Nov 14, 2018
In banking, stringent privacy laws enacted in the US and abroad are forcing banks to question what they need to do to stay in compliance. We provide 3 key tips.
Nov 9, 2018
Sharing BSA resources can be helpful for community banks. A recent interagency statement provides some options and steps to stay safe.
Oct 4, 2018
Anti Money Laundering Suspicious Activity Alerts at banks are soaring, almost doubling since 2013. We bring you the latest updates on this hot topic.
Sep 26, 2018
For many community banks, the tedious task of managing expectations is still time-consuming and inefficient. But new tools, techniques and technologies are emerging.
Sep 18, 2018
Hindsight is often 20/20. So, today we provide some key takeaways from The FinCEN 2018 law enforcement awards ceremony to better prepare you for what may be coming.
Sep 12, 2018
In the past 5Ys, the number of suspicious activity reports filed annually by US financial institutions has soared. Need some tips to help you fight AML? We have some.
Sep 7, 2018
The new California privacy law is being touted as the most stringent privacy law in the US. What do community banks need to know to stay out of trouble?
Jul 2, 2018
Community banks may be more inclined than their larger counterparts to use cloud computing services. But, it may be difficult to know where to start.
Jun 11, 2018
MIT research examines the effectiveness and cost of post-crisis bank regulation. We provide you with the highlights.
May 24, 2018
A recent crackdown on money laundering through marijuana and real estate provides important reminders for banks to carefully and actively manage their risk.
May 22, 2018
GDPR goes into effect on May 25th. How will it impact community banks in the US?
Apr 13, 2018
Is your bank doing financial modeling? If so, being too conservative can open you up to risks. We share some highlights on this from an FDIC paper.
Apr 4, 2018
Banks in states with legalized marijuana may not want to support these businesses. Tips to spot disguised cannabis customers.
Mar 27, 2018
For regulators, a focus on modeling efforts at banks has ramped up sharply in recent quarters. A review of the regulatory guidance on model risk management.
Mar 16, 2018
A new leverage ratio for community banks was created measuring a bank's tangible equity against the total of its average consolidated assets. This is good news. We give you the highlights.
Feb 20, 2018
A recent survey finds more banks are feeling pressure in managing risk across all lines of business. How does your bank compare?
Jan 18, 2018
Social media financial scams reached $420mm for the top 25 largest US banks. Tactics for banks to manage social media risk and still stayed connected socially.
Dec 1, 2017
FDIC announced that it would adopt the Fed/OCC guidance on Model Risk Management. What changes will your bank need to make?
Nov 21, 2017
Understanding BSA/AML with merger and acquisition activity. What steps banks can take.
Oct 28, 2021
Cyberthieves are not slowing down. But, the Financial Services Information Sharing and Analysis Center provides an option to help. Thousands of financial institutions have joined an initiative to pool online intelligence information to fight back. Could your institution benefit from this too?
Nov 9, 2021
Artificial intelligence (AI) is being used extensively throughout the financial industry. One area that many CFIs are finding AI especially helpful is risk management. In fact, Forrester has found that AI can increase ROI by 4x for risk management and efficiency. Here are five ways to use AI and increase your ROI.
Jan 24, 2022
Are you protected against drive-by skimming and supply chain website attacks? These can be hard to detect even with the usual cybersecurity measures such as firewalls, penetration tests, and security assessments. We explain how these attacks happen and what community financial institutions can do to mitigate the risk of these occurring to them.
Feb 28, 2022
Deepfakes have been around for a while, but they are now increasing dramatically with costly effects. Deepfakes are fabricated pictures, videos, or audio using advanced technologies to replace a person in an image or alter a person’s voice. Let’s explore the latest insights from industry experts, how much damage deepfakes are causing, and how to protect your institution from three related scams.
Aug 17, 2022
The Federal Reserve just concluded its annual capital adequacy annual stress test with 33 participating banks. While regulators don’t require CFIs to run stress tests to assess their capital adequacy, the federal banking supervisory agencies indicate that they should have the capacity to analyze the potential impact of adverse outcomes, and particularly encourage this for CFIs with CRE portfolios. We provide four steps to help form the foundation of an effective capital planning process.
Nov 1, 2022
While there is no shortage of risks that CFIs face, one way to enhance your risk management strategy might be in reshaping your board of directors. We give you tips on how to strengthen your board and reexamine the way the group approaches risk.
Jan 30, 2023
Economic forecasts for 2023 include a soft landing, stagflation, and recession. No matter which proves to be accurate, CFIs should prepare for the worst by assessing and taking steps to effectively manage risk.
May 10, 2021
Dark web sites are only accessed with encrypted software to allow stolen financial information to be sold to cyberthieves anonymously. It is a lucrative operation as these illegal sites have been known to make over $1B. Three ways to help stem the tide of stolen financial data are using Open Source Intelligence tools to search the dark web, keeping updated on new threats, and working with law enforcement.
May 18, 2021
Community financial institutions are facing increasing legal risks, including increased regulatory compliance, cyberattacks, and M&A complexities. In order to effectively manage this extra legal exposure, many bankers are increasing their legal support. We give you some options and steps to consider.
Jun 17, 2021
Infamous cybercriminals caused the Colonial Pipeline breach and also hacked into three community banks within the same timeframe. Seven tips can help protect your institution, including: educating employees, limiting network exposure, backing up data, automatically updating devices, contacting the FBI if attacked, reminding customers regularly, and keeping resources handy.
Jun 18, 2021
Cybercriminals are bold these days, as cyberattacks remain lucrative for them. In 2020, more than 19K businesses and individuals lost over $1.8B through email fraud, more than any other type of cybercrime. The best defenses for financial institutions in the fight against business email compromise are employee training, KYC & suspicious activity tracking along with security tools and customer information.
Aug 5, 2021
Risk managers have always been important at community financial institutions. However, the pandemic increased their responsibilities and made their roles even more pivotal. The top areas that are keeping these managers busier than ever include: enhanced risk modeling, cybersecurity & fraud, increased exposures through fintech partnerships, more regulation, and the evolving nature of the role itself.
Sep 3, 2021
Multi-factor authentication has become more widely used by organizations with ongoing data breaches proving costly. Even community financial institutions have been hit. It may feel overwhelming to know how to start. So, we give you three considerations when deliberating on multi-factor authentication as well as a few options that are available.
Sep 8, 2021
Planning for natural disasters is not new. But, with 100 climate- and weather-related global disasters happening between March and October 2020, the stakes have been raised. Since September is National Preparedness Month, it is a good time to review your business continuity plan with fresh eyes and communicate the steps to prepare with both employees and customers.
Mar 10, 2021
Trying to figure out how today’s balance sheet will respond to future events is more difficult than ever before. But, as the pandemic unevenly ends, this becomes critical. Test for volatility to anticipate structural weaknesses by examining the business model, back-testing for validity, and challenging assumptions.
Mar 1, 2021
Synthetic identity fraud costs financial institutions over $6B per year. This is a continuing problem that has been exacerbated by the coronavirus and affects the most vulnerable populations, such as children and seniors. It is critical to know how to identify and fight synthetic identity fraud with a layered approach and collaboration with other institutions. We provide some insight.
Feb 10, 2021
Passwords have long been the chief method of authentication for users. Yet, the human elements of memorization difficulty and affinity for convenience coupled with the new risks of the work-from-home environment have pushed several financial institutions to consider two-factor authentication. Is it time for your institution?
Feb 8, 2021
The average cost of a data breach in the US last year was $3.68MM and this number is only expected to get larger. Can a Security Operations Center (SOC) help your institution? We explore the options, including in-house, outsourcing, and SOC-as-a-Service to help guide you through this process.
Feb 3, 2021
Credit migration is always a concern for bankers and the uncertainty around the pandemic has only increased it. Deferrals seem to be less prevalent, yet criticized loans have increased. We look at the current credit migration trend to keep you updated.
Dec 22, 2020
Bankers have been hesitant to support cannabis merchants despite the legal status of marijuana in many states. We give you an update on legislation, payment solutions, and trade group support that may indicate a changing tide.
Sep 17, 2020
Liquidity risk management is always important for bankers, but especially during times like these. We highlight three key considerations.
Sep 16, 2020
Disasters keep striking. Take the time to review your disaster recovery strategies before you might need them.
Aug 25, 2020
Ransomware has been a growing threat. But, the greater reliance on digital access from the pandemic has resulted in an alarming spike in attacks.
Aug 18, 2020
With the ongoing pandemic, community financial institutions may find branch security more challenging. We give you three tips to conquer branch security issues.
Jul 7, 2020
As businesses are reopening, some are contemplating contact tracing. So, today we map it out and provide you with some of the risks.
Jul 1, 2020
While most financial institutions are doing all they can to manage new risks with COVID-19, here are a few that you may have overlooked.
Jun 30, 2020
Many financial institutions are evaluating their loan portfolios for COVID-19 effects on capital. We explain how to use economic data effectively when doing this.
Jun 1, 2020
With the need to move work off-site, community financial institutions have likely turned to cloud service providers to help. We highlight some of the risks and the need for cloud strategy.
May 20, 2020
With the current environment, you will need to view credit risk in a much different way than ever before. We give you three important steps to take.
Apr 7, 2020
We explain how to incorporate the impact of COVID-19 on your borrowers into your quarterly financial statements.
Mar 18, 2020
BEC attacks have cost businesses $26B over the past 4Ys and cybercriminals keep stepping up their game. We share the latest information.
Mar 11, 2020
As cyber thieves become ever more sophisticated, identity fraud remains one of the banking industry's top security concerns. There are a couple of new tools to help.
Feb 25, 2020
There are many security tools that can identify potential threats to your financial institution, but there are also many false positives too. We give you tips to help.
Jan 21, 2020
Suspected fraudulent transactions from mobile devices increased 138% since 2017. Staying on top of this is tough but important.
Jan 17, 2020
In a recent survey, 96% of community bank CEOs named cybersecurity risk as a top concern. With this in mind, we highlight the cybersecurity trends for 2020.
Jan 8, 2020
Whatever your thoughts on climate change, severe weather patterns are affecting the real estate market. We provide you with an update.
Dec 18, 2019
The FBI recently warned of attacks that bypass multi-factor authentication (MFA). Is MFA still a good solution?
Dec 11, 2019
Internet-based fraud is expected to hit $6T in 2021. We provide tips to help keep your online onboarding secure.
Dec 5, 2019
ATM skimming is still rampant. We bring you some new ideas and good reminders how to fight it.
Nov 27, 2019
Cyber criminals can now replicate digital fingerprints. We provide you with some tips to stay safe.
Nov 18, 2019
Stress tests can help you identify your institution's vulnerabilities. But, not all stress tests are created equal.
Nov 7, 2019
While talk of a pending recession is nothing new, we highlight some things for consideration in preparation.
Oct 31, 2019
There has been discussion around the countercyclical capital buffer tool. Would it affect community banks though?
Oct 15, 2019
Experts say there are ways that banks can share helpful information about cyber incidents, without divulging too much and violating privacy laws. We explain how this could work.
Sep 27, 2019
With the economic expansion in its 11th year, we thought we would revisit how far we have come since the start of this cycle.
Aug 19, 2019
A recent Accenture report describes how various threats could evolve in the future. We give you the highlights.
Jul 17, 2019
A top Fed official has a message for banks that have been slow to start switching from using LIBOR as an index - get cracking. We provide the latest update on the LIBOR to SOFR transition.
Jul 11, 2019
About $30T in wealth is about to transition from baby boomers to their kids in coming years. As older customers pass away or move, their assets can easily get lost in the shuffle. We provide some tips to avoid unclaimed assets.
Jun 20, 2019
Mobile wallet technology is becoming increasingly popular. But, just like any technology rapidly on the rise, there are growing risks to consider.
Jun 18, 2019
The latest FDIC performance report showed strong numbers for community banks. However, doing more of the same may not be the best course of action.
May 23, 2019
All banks should have the LIBOR-SOFR transition on their list and move it up in importance, as the 2021 deadline draws near. We give you some helpful tips.
May 21, 2019
Remote deposit capture has revolutionized check deposit. But, banks need to be aware of the risk.
May 9, 2019
As the remote work trend intensifies, it brings to the forefront the importance of strong cybersecurity practices. We provide some insight.
May 3, 2019
In our new BID feature, "Inquiry and Insight", we provide questions from readers and bankers and do our best to give you relevant, insightful answers.
Apr 30, 2019
If you are like most community banks, communicating your appetite for risk consistently is a challenge. How can you ensure consistency in loan pricing at your bank?
Apr 11, 2019
Synthetic identity fraud is difficult to track and halt due to its very nature. So, what can community banks do to prevent this dangerous fraud from happening?
Mar 19, 2019
Phishing is still a big problem. One of the best ways to educate people within your bank about the risks is to actually phish them on an ongoing basis.
Mar 13, 2019
Seniors lose $2.9B annually to financial abuse. We provide ways you can use your ALM process to help protect these customers.
Feb 19, 2019
A January 10th survey of economists by the Wall Street Journal finds on average a 25% chance of a recession within the next 12 months. So, what can you do to better prepare?
Feb 13, 2019
According to McAfee Labs, data breaches rose 20%, in Q3 2018 vs. the same period in the prior year in the financial sector. What should you expect from cybercriminals in the future?
Feb 4, 2019
The latest Financial Stability Report by the Fed provides insight into borrowing by businesses. Some facts you may want to know.
Jan 30, 2019
The exploitation of privileged users' access to a network is typically the main root cause of most large-scale breaches. Do you have a well-developed PAM to mitigate this big risk?
Jan 25, 2019
While some community banks still manage their own ATMs entirely, an increasing number have hired armored carrier service providers to handle this. What are the considerations for each?
Jan 22, 2019
Bank features and criminal ingenuity are in an evolutionary arm's race, so it should surprise no one that criminals have figured out a way to turn ATM cardless technology to their advantage. We provide tips for your bank to stay safe.
Jan 15, 2019
Bankers know cybersecurity continues to be a top priority. To protect your bank, here are some tried and true ways to do so.
Jan 7, 2019
Cyberattacks happen 300x more frequently in financial institutions than other industries. A system of buddy banks was created to help. Are you Shelter Harbor-ready?
Dec 20, 2018
Botnets do have legitimate purposes, such as web indexing, but their dark side predominates. What community bankers should know.
Dec 19, 2018
Cybersecurity is serious stuff, but the FDIC's Cyber Challenge video series makes training a little easier for community banks. We give you the highlights.
Dec 17, 2018
The FDIC is establishing an office of innovation that would help banks better partner with fintech firms. We provide you with the early details and how it could affect the current fintech landscape.
Dec 10, 2018
Every banker knows that a good business continuity plan is needed. But, when a power outage or worse happens, that is when you truly realize how prepared you are. We offer some guidance.
Dec 6, 2018
Cisco reports that many small and medium-sized businesses can go out of business due to a cyberattack. How to help keep your business customers safe.
Dec 4, 2018
OSHA reports that 2mm American workers are victims of workplace violence every year. Although bankers do not show up in the data, it may be a good time to review some ways to keep your workplace safe.
Dec 3, 2018
Vishing, the fraudulent tactic of phone calling for personal information, is on the rise. Make sure your bank customers aren't fooled.
Nov 29, 2018
Banks can always do more when it comes to cyber breaches and threats. We provide the latest insights from Verizon's 2018 Data Breach Investigations Report.
Nov 26, 2018
In the world of biometrics, fingerprint identification for mobile bank accounts is on the rise. What you should know about fingerprint ID adoption for your biometrics strategy.
Nov 21, 2018
Getting a loan from a large bank can be a challenge for a small business startup. This is good news for community banks.
Nov 20, 2018
More customers are using their cell phones to videotape business interactions these days, which increases risks for banks. Are you mitigating these risks?
Nov 15, 2018
Many banks use text message authentication, but thieves are finding ways to hack it. We provide an update along with tips to keep you and your customers safe.
Nov 6, 2018
The rate of voice fraud has risen more than 350% from 2013 to 2017 with no signs of abating. What can you do to protect your bank from this new threat?
Oct 16, 2018
A recent FICO study shows 80% of consumers don't see the need for what they consider unnecessary security procedures. How to strike a balance between security and customer satisfaction.
Oct 15, 2018
When community banks evaluate commercial loan risk exposure, a key element is loan grade. Yet, not all banks have a uniform loan grading system. We present some interesting findings from an FDIC examination.
Oct 5, 2018
Because of the increased security of EMV chip cards, robbers are turning away from bank card theft and moving directly to ATM theft. What your bank should know.
Oct 2, 2018
Community bankers know they need to prepare for disasters. But, in the wake of Hurricane Florence, we have some important reminders.
Oct 1, 2018
Now that hackers use sophisticated tools to detect versions of commonly used passwords, the National Institute of Standards and Technology (NIST) issued revised password guidelines. We have the update for you.
Sep 21, 2018
Money launderers have found another channel - online games. Although this is an unusual way to launder money, staying in the know is important for all banks.
Aug 29, 2018
Before you start blaming your young bank employees' online habits for security issues, you will want to see what one survey found out.
Aug 10, 2018
You can do your best to keep up with the latest cybersecurity measures, but they aren't perfect. Cyber risk insurance could help protect you if and when that day arrives.
Jul 20, 2018
Open Banking is seen as both a threat and an opportunity for banks. We lay out them both.
Jul 3, 2018
A recent report by the FBI's Internet Crime Center provides stats and examples of some real cybercrime risks out there. We give you the highlights.
Jun 20, 2018
In April, credit-reporting agencies dropped all information on tax liens and court-ordered debts from consumer credit reports and ratings. How this could affect your underwriting practices.
Jun 15, 2018
While having a solid risk assessment plan for third party vendors is nothing new to bankers, what do you do if your vendor is acquired?
Jun 4, 2018
Third-party relationships are becoming even more important in an increasingly consolidating industry. We offer a few suggestions on how to manage third-party risk.
May 10, 2018
The World Economic Forum projects the cost of cybercrime to businesses will hit $8T over the next 5Ys. We outline ways to stay safe.
Apr 18, 2018
It is difficult for season business customers to manage through each season and it is not easy for their banker either. Fortunately, there are good approaches to minimizing risk when you lend to seasonal businesses.
Apr 11, 2018
Payroll phishing scams are on the rise. What your bank can do to protect itself and its employees.
Mar 30, 2018
When should community banks outsource IT security measures? We have some answers.
Mar 28, 2018
Small-business loan delinquency rates have climbed a bit since their 2013 low. Some tips to manage this rising risk.
Mar 20, 2018
More than half of banks report that they are unable to combat and keep up with the rapidly changing nature of fraud schemes. Other highlights from a recent fraud survey.
Feb 12, 2018
Ninety percent of cybersecurity budgets focus on securing the network while nearly 75% of all cyberattacks happen at the application level. The key threats in 2018.
Feb 8, 2018
Real-Time Payments bring a new age for payments, as early as this year. But, as all new technologies, there are risks. Ways to mitigate these risks.
Jan 31, 2018
Banks are recognizing that mitigating IT risk cannot be the sole responsibility of the IT department. Everyone, from the top down, at a bank needs to be involved.
Jan 24, 2018
FDIC reports Q3 2017 was a good quarter for net income growth. Yet challenges are ahead for improving performance.
Jan 12, 2018
Community banks may want to fund mergers, acquisitions, and other expansions in 2018. Some ways to raise capital from institutional investors.
Jan 10, 2018
There has been discussion about replacing the social security number. What could replace it and what are the ramifications for banks?
Jan 9, 2018
The FDIC reports that as of Q3, YTD community bank lending growth in Single Family Residential was $17B. Some high level tips to consider in this market.
Dec 27, 2017
According to Chicago Fed research, there are 7 cyber threats that are the most common in community banks. Make sure you know them all and what to do.
Dec 22, 2017
As of March, 40% of the country's financial institutions registered nearly 4,900 dot-bank domain names. Why are so many banks migrating their sites?
Dec 18, 2017
In 1H 2016, 554mm records were compromised and the cyber thieves are getting more sophisticated. Some banks are turning to AI for help.
Dec 13, 2017
A bank's reputation is an important intangible asset. Tips on how to keep your bank's reputation pristine.
Nov 22, 2017
Could poor energy efficiency predict commercial loan defaults? New study sheds some light.
