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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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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.

Banking 98
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In Cybersecurity, the Agility and Speed of Small Banks is an Advantage

FS-ISAC

As a financial services cybersecurity professional who has worked on three continents for large multinational institutions, I understand the advantages and challenges for security departments at banks both large and small. Faced with increasingly sophisticated cyber attacks, small banks can use their size to their advantage.

Banking 59
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5 Key Takeaways from the EU’s Digital Operational Resilience Act (DORA)

Pure Storage

The UK Takes the Lead in Enforcement While the first OR directives were issued by the EU several months ahead of the UK, the latter has taken the lead when it comes to enforcement, issuing a nearly $60 million fine related to a resiliency incident at a UK bank in late 2022.

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Black Swans and Swiss Cheese – A Boat Crash in Baltimore

Plan B Consulting

Traditional risk management focuses on identifying and mitigating risks that can be predicted based on historical data and past experiences. The only mitigation was that the incident occurred in the middle of the night rather than at peak rush hour, so the casualty count was much less than it could have been.

Banking 52
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The hidden costs of shadow IT: How unsanctioned tech impacts your budget

Online Computers

Shadow IT can lead to noncompliance with the Health Insurance Portability and Accountability Act (HIPAA) or the Gramm-Leach-Bliley Act (GLBA) , resulting in large fines and legal issues. Addressing these needs and finding safe alternatives can help mitigate the risks. Here’s how: Engage employees. Interested? Contact us today.

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Cyberrisk Management Tips for Businesses Amid the Russia-Ukraine War

Risk Management Monitor

According to experts ranging from independent cybersecurity professionals to officials at the Cybersecurity and Infrastructure Security Agency (CISA), organizations at greatest risk right now include critical infrastructure , banks and other financial services firms, and of course key service providers in Ukraine or Russia.