Both tokenization and artificial intelligence technology hold considerable promise for the banking industry, but they also come with risks, Federal Reserve Governor Christopher Waller said.
As banks assess their team members, which skills should bring a current employee front and center for a possible career move into risk and compliance?
A federal program to assess IT and cyber risks at financial institutions has several significant flaws that could prevent it from working as intended, and as a result, may affect the insurance premiums paid by those institutions, the Office of Inspector General concluded in a report released this week.
Cybersecurity will be the top risk priority for most community banks over the next 18 months, with operational risk and compliance risk also high priorities, according to the ABA Banking Risk and Compliance Management 2023 Outlook survey released this week.
Multiple factors have increased overall risks to U.S. financial stability over the past year, although the banking sector “remained well capitalized and maintained risk-based capital ratios well above regulatory minimums,” the Office of Financial Research said this week in its annual report to Congress.
Cybersecurity is the top risk priority in 2023 for most banks across the globe, although credit risk may grow in importance if economic conditions continue to deteriorate, according to a recent survey of chief risk officers.
Cybersecurity and credit risk are the top risk priorities for community banks, according to a new survey by the Risk Management Association.
The FDIC is “working diligently” to issue updated guidance to financial institutions on third-party risk management, the agency’s Associate Director Lisa Arquette said today.
The Office of the Comptroller of the Currency today announced the appointment of Yue Chen as chief climate risk officer.
The guidance is intended to provide more clarity to systemically important stablecoin arrangements, or SAs, and relevant authorities, but is not intended to create new standards.