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Risky Business at Silicon Valley Bank: What Happened?

DRI Drive

As federal regulators take over Silicon Valley Bank in the wake of its collapse, many finance sector resilience professionals are looking at its risk management strategies to figure out what went wrong. When the SVB collapse was announced on Mar.

Banking 246
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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 90
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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.

Banking 97
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Financial Panic in the Age of Digital Banking Social Media

The Rand Blog

Bank runs as a source of systemic risk are nothing new. To manage systemic risks in the age of social media, regulators may need to anticipate where the crisis will go and build in automatic brakes to slow them down. There likely won't be time to react at the speed of negotiation between regulators and bankers.

Banking 115
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The role of IT architecture in a transformed banking experience

Citrix

The banking industry has seen unrivaled transformation over the last decade — from significant regulatory reform to the establishment of multiple digital banks changing the game for incumbent high street players.

Banking 77
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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

LogisManager

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 85