Shelved Elves: Santa Ponders the Risks and Rewards of Outsourcing Toy Making
It’s crunch time at the North Pole, and Santa is worried. Despite his elves’ best efforts, he’s not sure they are going to be able to produce all the toys
Misleading Vendor Marketing Costs Missouri Bank $5 Million
A Missouri bank must pay consumers $5 million in restitution after a third-party vendor deceptively marketed balance transfer credit cards.
Did You Hear the One About the Community Bank and the Russian Oligarch?
A Utah bank gets a lesson in due diligence when it discovers an account holder is one of Russia's wealthiest oligarchs with direct ties to Vladimir Putin.
Third-Party Vendor Breach Costs Texas Credit Union
A Texas credit union has found itself dealing with the expensive consequences of a third-party vendor breach, it announced to members last week.
How Puerto Rico's Vendor Management Went Awry with Whitefish Energy
As if Puerto Rico didn’t have enough troubles, it’s now making headlines over the decision to award a $300 million contract to repair the island’s electri
The Rising Cost of Compliance & How the Best Banks Respond
Compliance costs are rising. With this free infographic, you'll be armed with bullet-proof statistics to help you negotiate your future compliance budget.
5 Tips for Successfully Navigating the New 2018 HMDA Regulations
Here are 5 best practices for implementing the new HMDA rules and regulations from the CFPB. These HMDA changes may be a challenge - here are tips for...
Wells Fargo Teller Steals $185k from Homeless Customer
Wells Fargo teller steals 185k from homeless customer. Where are the internal controls that would provide visibility into this type of behavior?
OCC Bulletin 2017-43: Guidance for Risk Management of New Activities
In the OCC bulletin 2017-43, banks are reminded that new lines of business are rife with risk potential. Careful vetting is crucial. Nrisk can help.
Is Fair Lending Software Worth the Cost? 21 Factors to Consider
Consult this resource to help you decipher the value inherent in Fair Lending analysis software and make the right decision for your organization.
Deficient Vendor Management Practices Result in $1.5 Million Fine
Missouri bank slapped with fines for what the OCC calls "deficient vendor management practices. " Here's what happened and how you can avoid similar fines
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5 Things Vendors Want You to Know Before You Buy
If you could get a peek into the minds of your vendors when you're considering a purchase, here's what you'd find. Check out what vendors want you to know.
How Did We Get Here?: A History of BSA
BSA/AML is kind of like home that's been added onto over many years. It seems a little disjointed because different administrations have added their ideas.
Regulatory Alphabet Soup Part 2: The Predicted Death of GRC
As Gartner moves away from using the term GRC and towards IRM, we feel strongly the risk management industry will soon leave this buzzword out to die.
Attention Compliance Professionals: How to Leverage LinkedIn to Do Your Job Better
As a compliance professional, you can use LinkedIn to do your job better. Here are five tips you need to know, whether you're a beginner or an expert!
The BSA/AML Compliance Pep Talk You Need
Ever wonder what happens to your SAR reports? Believe it or not, they actually pay off. Keep up the good work on your BSA/AML compliance efforts.
FDIC Supervisory Insights for Summer 2017: Focus on BSA
FDIC BSA 2017 Supervisory Insights. The FDIC released its Supervisory Insights for Summer 2017. This article summarizes that report.
How to Build a Strong Fair Lending & Redlining Compliance Management System
As you work to build a strong Fair Lending and Redlining compliance management system, here are a few things to keep in mind to help reduce risk exposure.
Déjà vu: Wells Fargo Can't Stay Out of Trouble
After its account-opening scandal last year, you’d think Wells Fargo would have examined all its policies and procedures
Here We Go Again: Vendor Cybersecurity Breaches Keep Wreaking Havoc
Vendor cybersecurity breaches once again wreak havoc on user data. Read about the millions of accounts hacked and leaked online from a telecomm giant.
3 Reasons Chief Risk Officers Fail
A new study concluded that big banks that employed a Chief Risk Officer were far more likely to be overexposed to the riskiest, new financial derivatives.
Beach Bummed: How One Construction Crew Ruined the Summer Season
The word disaster conjures up images of tornadoes, hurricanes, and terrorist attacks, but sometimes it starts with a construction crew.
7 Tips for How to Respond to Bad Compliance Exam Results
Compliance exams are stressful and challenging to endure. In this post, we will share 7 experience-tested tips for how to respond to a bad compliance exam.
OCC Singles Out a Bank Director for Excessive CEO Compensation
The OCC recently called out a bank director for misconduct around compensation. Here's a quick lesson in how to fail as a bank director.
What Took 5 Years and $10 Million and Did Nothing to Punish Wall Street for the Mortgage Crisis?
Here's what we learned from this intriguing documentary about the only commercial bank criminally charged as a result of the mortgage crisis
How Are You Coping with a Growing Vendor List?
As financial institutions work with more vendors, it's easy to miss third-parties who need to be reviewed just like more obvious ones.
Much Ado About Nothing: Update to the FFIEC Cybersecurity Assessment Tool Barely Worth a Mention
When we looked at the FFIEC's update to the cybersecurity assessment tool, we discovered the changes to be minor. Good news; Ncyber already has the update.
FDIC Guidance: Model Risk Management of Third-party Vendors
Model Risk Management: FDIC-regulated banks with more than $1 billion in assets and those that use a complex model that is will be subject to new guidance.
5 Ways to Succeed at Vendor Management
Risk and vendor management is all about analysis and organization, but many risk officers get bogged down in organization and lose time for analysis.
Don’t Confuse Clarity with Forgiveness
OCC to label violations of laws and regulations as “new,” “self-identified,” or “repeat” when communicating a violation to banks starting July 1.