Risk Guide

NOVEMBER 5, 2022

By Horst Simon, The Risk Culture Builder. Bank regulators have been on a “capital charge”-path for a very long time. No capital charge can be a buffer for bad management of risk. History showed us that sometimes ALL the capital is not enough to save the bank from a risk event gone wrong.

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Everest Group

FEBRUARY 22, 2024

Learn the steps organizations should take to prepare now and discover how the new DORA regulations will strengthen digital operational resilience. The DORA regulations are expected to significantly enhance the digital resiliency of the EU’s financial sector and foster greater stability, consumer protection, and trust.

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Perficient Digital Transformation

MAY 30, 2024

Our banking risk and regulatory experts are excited to attend the upcoming XLoD Global event in New York on June 11th. The world’s leading financial institutions and regulators come together at XLoD to discuss the future of non-financial risk and control. What is XLoD Global?

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Banking Risk Management Risk Management Regulations 52

SIG Speaks

MAY 4, 2023

SIG University Certified Third-Party Risk Management Professional (C3PRMP) program graduate William Chanto Castro shares the tricks to overcoming the obstacles to meeting risk regulations and requirements. 9). The information required by the Regulator may come from different sources depending on the company.

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Perficient Digital Transformation

DECEMBER 22, 2023

To help shed light on this matter, Perficient’s Financial Services Risk and Regulatory Center of Excellence (CoE) researched the topic extensively and discovered that the Office of the Comptroller of the Currency (OCC) has classified AI as an emerging risk to the banking industry.

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Perficient Digital Transformation

MAY 27, 2022

Central Bank Digital Currency (CBDC) ). For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations.

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Perficient Digital Transformation

JULY 12, 2023

Perficient provides risk management to more than 500 financial services organizations, many of whom have multiple bank regulators. Often an organization will have a state-charted non-member bank, which has the FDIC as its primary federal regulator. The complete 60+ page guidance is available to readers here.

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Perficient Digital Transformation

APRIL 18, 2024

Open Banking is going to do for the banking industry what the introduction of the Apple smart phone did for cell phones. What is Open Banking? Traditionally, banks hoarded financial data, sharing it sparingly on a need-to-know basis.

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IBM Services

APRIL 20, 2023

Trust is the cornerstone on which the banking industry is built. When consumers lose trust in a bank’s ability to manage risk, the system stops working. Put simply, consumers trust banks to keep their money safe and return the money when requested. But there’s trust on the business side, too.

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Perficient Digital Transformation

AUGUST 16, 2023

Background On Friday, July 28, Heartland Tri-State Bank of Elkhart became the fourth U.S. bank to fail this year. A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. He was promoted to President and CEO in 2008.

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IBM Services

SEPTEMBER 14, 2023

These requirements create a technical challenge for enterprises—especially in regulated industries (e.g., insurance, banking, healthcare, etc.)—to How are IBM Cloud regulated workloads set up and connected to other clouds? Why are regulated workload components spread across multiple clouds?

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Perficient Digital Transformation

SEPTEMBER 16, 2022

Additionally, the Supervisory Letter states that Board-supervised banking organizations should notify the Board prior to engaging in crypto-asset-related activities. The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. Financial risk. Legal risk.

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Zinnov

NOVEMBER 23, 2022

While the world tried to recover from the slowdown, a new predicament posed as a challenge to the Banking industry – new-age Fintech firms. The steady and quick rise of Fintech firms in the world has shaken the presence and role of conventional banking. Banks collaborating and creating partnerships with Fintech is the way forward.

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Automation Anywhere

APRIL 27, 2022

The lines between banks and banking are blurring more and more. Traditional banking and financial services firms have been slow to react. Traditional banking and financial services firms have been slow to react. Successful banking process improvement requires placing equal importance on internal and external forces.

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Everest Group

FEBRUARY 26, 2024

This deal holds the potential to significantly impact the banking and financial services (BFS) IT services market and providers. Read on to learn the looming risks and what to pay attention to. However, S&P predicts regional and community banks will be interested in mergers of equals this year.

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Risk Guide

NOVEMBER 15, 2020

By Horst Simon, The Risk Culture Builder. Maybe the time has come to finally take the people side out of Risk Management—let us change the Basle definition and say Operational Risk is just systems, processes and external events, that is anyway the perception that was followed by most in the world.

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inDinero

JULY 8, 2021

Any business loan or line of credit from a bank—brick-and-mortar or online—will carry more favorable terms if you have a decent business credit scor e. Lenders use your business credit score to determine how likely you are to repay your loan; the lower the score, the less attractive you are to a lender, especially banks.

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Banking Accounting Regulations Government 69

Everest Group

MARCH 16, 2023

With the recent banking implosion, the global financial services industry , technology companies, and service providers will be hit in different ways. Let’s explore the reverberations of these concerning banking trends. We believe this will start a domino effect impacting banking regulations, profitability, and technology spend.

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Risk Guide

FEBRUARY 7, 2022

Volumes have been written on the cause of the crisis the world is in, surveys have been done and many fingers are pointing in every direction—a couple of these are pointing straight at us, the Risk Professionals. It is time to renovate risk management. The basic Risk Management process cycle is one of those.

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McKinsey and Company

APRIL 28, 2022

Sir Howard Davies discusses the ways regulations, interest rates, monetary policy, climate risk, and economic threats are affecting the resilience of the banking system.

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Perficient Digital Transformation

DECEMBER 1, 2023

billion of the total cost incurred from the failures of Silicon Valley Bank (SVB) and Signature Bank was designated for safeguarding uninsured depositors. Despite this proactive approach, federal banking regulators either neglected to review the same documents or did so without taking necessary action before the bank failed.

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Perficient Digital Transformation

AUGUST 15, 2024

– These are the exact words (with a couple of expletives, that I cannot quote here) – a senior fund administrator from a large investment firm uttered when we were presenting about environment aware financial risk management. I can assure you, it’s going to impact you if you are an Investor, or a Bank or a Financial Consultant.

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Perficient Digital Transformation

AUGUST 15, 2024

– These are the exact words (with a couple of expletives, that I cannot quote here) – a senior fund administrator from a large investment firm uttered when we were presenting about environment aware financial risk management. I can assure you, it’s going to impact you if you are an Investor, or a Bank or a Financial Consultant.

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Government Banking Regulations Risk Management 52

Capgemini

OCTOBER 30, 2024

The role of data and AI in driving sustainability for banks Satish Weber and Tej Vakta Oct 28, 2024 Facebook Linkedin How cutting-edge tech will shape the future of environmental and social impact in banking In finance, the goal is to go green – now more than ever. What follows are key takeaways from the panel.

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IBM Services

OCTOBER 23, 2023

1] Managing complex business operations across a hybrid multicloud environment presents leaders with unique challenges, not least of which are cyberthreats that can bring essential business functions to a halt—potentially for days, weeks or months. The cost of a data breach at organizations with high levels of noncompliance is 12.6%

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McKinsey and Company

MAY 23, 2022

Banks need to evolve International Financial Reporting Standard (IFRS) 9 models quickly—and those that get it right will have more than just a competitive advantage.

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Perficient Digital Transformation

JUNE 25, 2024

Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach. For banks interested in adopting AI, establishing clear and effective gates between each phase can help ensure that innovations are beneficial rather than harmful.

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Everest Group

MAY 24, 2024

However, this unprecedented growth has also raised concerns about the potential risks associated with the unchecked use of AI, prompting the need for regulations to ensure the responsible development and deployment of these powerful technologies.

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Capgemini

AUGUST 5, 2022

ESG for Banks – How to Elevate the Game to Achieve Key Goals Capgemini 4 May 2022. As two-thirds of the financing must be provided by banks, their role is instrumental in achieving the Goals. The good news is that banks across the globe have now put sustainability at the forefront of their growth mission. COMMITMENT.

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Perficient Digital Transformation

NOVEMBER 10, 2023

Retail banks respond to the Federal Reserve’s short-term interest rate adjustments with corresponding changes in lending and deposit rates. When they need to change direct deposits, clear checks, or open new accounts at a bank, their funds often remain untouched. bank failures but rebounded in the second quarter.

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Accounting Banking Retail Risk Management 52

IBM Services

APRIL 11, 2024

One of the biggest challenges these organizations face is evolving regulations related to payments. To modernize, remain competitive and be compliant with regulations requires organizations to work with a “trusted” technology partner who can help to bring together their traditional payment practices and innovative solutions.

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IBM Services

FEBRUARY 8, 2024

Similar to GDPR for privacy, the EU AI Act has potential to set the tone for upcoming AI regulations worldwide. The EU AI Act aims to meet the challenge to develop and deploy AI responsibly across industries including those that are highly regulated such as healthcare, finance and energy. million euros or 1.5%

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IBM Services

APRIL 4, 2024

The cloud represents a strategic tool to enable digital transformation for financial institutions As the banking and other regulated industry continues to shift toward a digital-first approach, financial entities are eager to use the benefits of digital disruption. Banks want to tap into these new innovations.

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IBM Services

SEPTEMBER 18, 2023

The payments ecosystem is at an inflection point for transformation, especially as we see the rise of disruptive digital entrants who are introducing new payment methods, such as cryptocurrency and central bank digital currencies (CDBC). This is just one of many examples that show how the payments space has evolved.

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Perficient Digital Transformation

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

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31 West

SEPTEMBER 24, 2024

For instance, when a large bank was infected with ransomware that encrypted the files, the company did not lose much money or experience terrible operational loss because it restored its network from the recent backup. HIPAA regulates the use and disclosure of PHI in the U.S.,

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Perficient Digital Transformation

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

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