Fed seeks feedback on proposed updates to FMU risk management requirements
The Fed said that broad operational risk, technology and regulatory landscape in which FMUs operate has “evolved significantly” since requirements were last updated.
The Fed said that broad operational risk, technology and regulatory landscape in which FMUs operate has “evolved significantly” since requirements were last updated.
“The crux of the issue is that ultimately the bank has to have a strong oversight and management system.”
With the right training and tools, contact centers can be a central element of a bank’s strategy to affirm its commitment to ESG and build customer loyalty and trust.
The SEC proposed a set of new rules for clearing agencies that provide central counterparty services for U.S. Treasury Securities intended to improve risk management, among other things.
A recent review of how federal regulators handled COVID-caused disruptions to bank examinations has led the Government Accountability Office to make two recommendations for how those same regulators could better prepare for future disruptions.
Change is constant, so risk identification for banks should be an ongoing process.
While some banks might be well positioned to establish a dedicated role or even a team, others may prefer to have a cross-compliance collaboration approach.
SPONSORED CONTENT PRESENTED BY ENCOMPASS By Howard Wimpory, KYC Transformation Director, Encompass The expansion of…
The Government Accountability Office found significant room for improvement regarding the Department of Justice’s obligation under the Anti-Money Laundering Act of 2020 to provide the Financial Crimes Enforcement Network with information on their use of Bank Secrecy Act reports.
Chief credit officers discuss the importance of timely information to navigate volatility and risk.