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How Banks Can Prepare for the FDIC’s Proposed Standards

LogisManager

In what is seen as a significant shift, the Proposed Standards will move away from the reliance on state law in favor of establishing governance and oversight obligations for banks. Among the areas expected to see change within compliance management of these banks will include obligations, board composition, duties, and committee structure.

Banking 98
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Guest Post: Digital Technology Is Transforming Banks

Security Industry Association

Within the financial and banking sectors, digital transformation has become synonymous with the increasing shift toward mobile and online banking, as well as the widespread adoption of cloud-based services to enhance customer engagement and streamline internal operations.

Banking 52
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How Banks Benefit from the New Digital Operational Resilience Act

Pure Storage

How Banks Benefit from the New Digital Operational Resilience Act by Pure Storage Blog We’ve all seen how ransomware can bring businesses, local governments, and other organizations to their knees. DORA closes a critical gap in data management for banks. Banks (and other companies) built walls to protect their IT.

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. ” You can outsource the activity to the vendor but not the risk.

Banking 98
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What Is Reputational Risk For Banks?

LogisManager

What Is Reputational Risk For Banks. In the banking industry, managing reputational risk is a complex and ongoing discipline. Just like any business, banks face a myriad of risks. What is Reputational Risk Management in Banks? Risk management is an essential piece of any bank’s operations.

Banking 52
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What is the Three Lines of Defense Approach to Risk Management?

LogisManager

The proposed standards emphasize a stronger corporate governance and include an over-arching requirement for these banks to adopt the Three Lines Model. This includes business units, departments, and individuals directly responsible for managing and executing processes and activities that generate risk.

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Jayaraj Puthanveedu: Protecting Customer Trust in a World Full of Fraud

FS-ISAC

Now they can leverage AI, which makes it even more difficult for customers to recognize suspicious sites or activities. It’s challenging to keep customer’s data and money safe, while ensuring they have access to banking services when they need it. Rising Agility of Fraudsters Fraudsters respond very quickly to changing situations.

Banking 59