• Insider loan fraud: Regulation O violations

    Is your financial institution Regulation O compliant? How transparent are transactions among insiders of your financial institution? Insider abuse can be difficult to detect and cannot only lead to substantial FDIC penalties but will increase the reputation risk of your financial institution.
  • Business continuity planning checklist

    Business continuity planning can seem overwhelming when you first think about all you need to cover. Use this overview checklist to assist your organization in preparing for its planning process.
  • Devising Plan B: What to do when (and before) disaster strikes

    Too many banks prepare a business continuity/disaster recovery plan that collects dust on a shelf or ignores critical components. Plans aren’t tested or updated. They fail to plan for certain contingencies, such as a CEO who’s unavailable when disaster strikes. Federal and state agencies require a written business continuity and disaster recover plan. Smart business requires something more: a thorough plan that takes every contingency into account and is tested and updated regularly.
  • Managing risk for third party relationships: Office of the Comptroller guidance

    The Office of the Comptroller of the Currency (OCC) released guidance in October 2013 to national banks and federal savings associations on how to assess and manage risks of third parties. Concerns over how effectively banks are managing risks of their outsourced providers have increased along with their use. This increased use has consisted of both greater numbers of service organizations employed by banks and increased complexity in the services they provide. This, coupled with the fact that service organizations may also be domiciled in foreign countries, has raised concerns within the OCC and the banks themselves.
  • Understanding the COSO Internal Control-Integrated Framework

    COSO’s Internal Control-Integrated Framework makes it easier to design and evaluate the effectiveness of internal controls. The framework is also used by public companies to assess effectiveness of internal control over external financial reporting (ICEFR) under Sarbanes-Oxley (SOX) section 404.