Abrigo

OCTOBER 9, 2024

In this blog, we explore how banks and credit unions have adapted their approach to Q factors under CECL and share insights from an Abrigo advisory webinar on managing this critical part of the ACL process. Documentation and support: Regulators expect transparency in the CECL Q factor process.

Risk Management 195

Risk Management Management Compliance Data 195

Abrigo

SEPTEMBER 6, 2024

Updated AML/CFT programs: If their financial institution is involved in any part of the covered transaction, such as providing escrow services, AML/CFT professionals must ensure that real estate professionals and advisers are fully integrated into their institution’s compliance framework.

Compliance 195

Compliance Training Fraud Regulation 195

Abrigo

SEPTEMBER 24, 2024

You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." DOWNLOAD Takeaway 1 A human-in-the-loop approach plays a vital role in ensuring that AI systems effectively support alert and case management for AML/CFT suspicious activity monitoring.

Software 195

Software Management Compliance Resources 195

Abrigo

JUNE 9, 2020

Compliance is at the center of the lending process at financial institutions. Without the right tools and processes in place, however, compliance can be monotonous and inefficient. Financial institutions are looking for a solution to increase efficiency, decrease risk, and provide complete, defensible documentation for loan types.

Technology 195

Technology Lending Compliance Data 195

Perficient

JUNE 5, 2020

Multiple regulatory controls are required for the custodianship of patient and customer data, creation of secure software systems, governance of development environments, and ensuring proper management of audit information. Intake, Construction, Release Management), and DevOps pipeline tooling. Secrets Management.

Compliance 332

Compliance Security Software System 332

Perficient

FEBRUARY 17, 2021

In this blog, we will explore Boomi’s EDI Management Platform and how you can get started with modernizing your EDI network. Boomi’s B2B/EDI Management Platform capabilities. Trading Partner Reporting Portal : The new Boomi portal provides authorized users essential EDI documentation. Now, a single process can use multiple VANs.

Management 340

Management Customer Experience Technology Innovation 340

Abrigo

JUNE 28, 2024

Navigating interest rate management in today's environment As regulators focus on interest rate risk management, read about what financial institutions can do to be ready for a rate drop. You might also like this on-demand webinar, "Navigating uncertain times: Strategies for effective risk management and compliance."

Community Bank 195

Community Bank Strategy Community Management 195

Abrigo

SEPTEMBER 20, 2023

Understanding AML compliance and regulatory expectations. AML compliance is not for the faint of heart. Takeaway 3 Be your champion and fight for whatever is necessary to instill a culture of compliance. A culture of compliance AML compliance Having a solid culture of compliance is critical to avoiding AML penalties.

Compliance 150

Compliance Regulation Miami Fraud 150

Perficient

NOVEMBER 6, 2024

SEC Chairman Gensler foresees potential systemic risks because the use of AI in the financial sector eventually may be driven by a small handful of foundational models, thus creating a “monoculture” with many market participants relying on the same dataset or model.

Regulation 221

Regulation Compliance Analytics Policies 221

Perficient

NOVEMBER 8, 2024

Implementation of Risk-Management Practices and Termination of Noncompliant AI AI policy and review process. All safety- or rights-impacting AI use cases undergo a comprehensive risk impact assessment including validation of all risk-management practices defined in OMB M-24-10 section 5(iv). Enforceability and penalties.

Regulation 221

Regulation Risk Management Policies Compliance 221

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist." Miss” and thus alienating nonbinary customers.

Compliance 195

Compliance Community Training System 195

Perficient

FEBRUARY 15, 2024

These DFS500 amendments signal a crucial shift in the regulatory landscape, emphasizing the imperative for robust governance, risk management, and compliance frameworks across the financial industry. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

Compliance 221

Compliance New York Regulation Analysis 221

Abrigo

AUGUST 26, 2024

Takeaway 2 Starting CECL model risk assessments at a high level ensures the focus is on data inputs, assumptions, documentation, and estimates. Takeaway 3 Consider risks tied to methodology, the use of third parties, management bias, and estimation uncertainty during a CECL model risk assessment.

Compliance 195

Compliance Management Regulation Data 195

Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. See tailored AML/CFT solutions that can improve your compliance. Learn more 1.

Compliance 221

Compliance Training System Management 221

Perficient

FEBRUARY 15, 2024

The NYSDFS Part 500 amendments signal a crucial shift in the financial services regulatory landscape and underscore the importance of robust governance, risk management, and compliance frameworks. Impacted institutions are subject to significant fines relative to the level of non-compliance identified by the regulators.

New York 221

New York Compliance Regulation Analysis 221

Abrigo

OCTOBER 14, 2022

Fortify your credit risk management framework How to prepare your organization for scrutiny of its credit risk management practices during your next exam or review. . You might also like this whitepaper, "Stress Testing: Managing Capital Levels and Credit Risk." So how can banks help customers keep up in uncertain markets?

Risk Management 195

Risk Management Management Policies Lending 195

Abrigo

NOVEMBER 4, 2024

See tailored AML/CFT solutions that can improve your compliance. Core components of a successful monitoring program Effective suspicious activity monitoring programs must include several essential components to ensure compliance and timely suspicious activity report (SAR) filing.

Training 195

Training Compliance System Regulation 195

Abrigo

AUGUST 4, 2016

By Lana Richards, Contributing Writer, Sageworks Documenting audit and review procedures often feels more like administrative than value-adding work. And some procedures—like analytics, for example—require more extensive documentation due to the amount of judgment applied in their selection, design and evaluation.

Analytics 150

Analytics Compliance Software Examples 150

PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S. regulations, even if a vendor is not in the U.S.

Compliance 164

Compliance Retail blockchain Regulation 164

Perficient

JANUARY 16, 2024

Background On October 19 th , 2023, the Office of the Comptroller of the Currency (OCC) published an article highlighting new enforcement actions and clarifying explicit rules regarding misconduct, particularly as it relates to financial abuse by senior-level management.

Compliance 221

Compliance Guidelines Policies Risk Management 221

Perficient

JANUARY 13, 2021

Exterro is a leading software platform focusing on an area known as Legal GRC (Legal Governance, Risk, and Compliance). Exterro helps our clients with three big e-discovery components: Locating the electronic documents. Collecting and preserving the documents and present them to the demanding party.

Software 309

Software Compliance Tools Examples 309

Perficient

OCTOBER 15, 2024

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

Tools 221

Tools Data Compliance Regulation 221

Abrigo

MAY 22, 2019

Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. This newly published document mirrors what we know about the requirements of a sound BSA/AML program.

Compliance 150

Compliance Regulation Regional United States 150

Abrigo

FEBRUARY 14, 2024

WATCH NOW Takeaway 1 Reduce stress and mitigate financial and compliance impacts Takeaway 2 AML employee succession plans should be “living” documents. Planning now will mitigate the compliance risk from turnover and reduce stress for you and your AML program during times of change. Keep plans relevant.

Training 195

Training Fraud Compliance Regulation 195

Abrigo

MAY 14, 2021

Check out this webinar on Enterprise Risk Management. Takeaway 1 Enterprise Risk Management is a priority for financial institution leaders but still maturing. Compliance and Decision-making. The Importance of Effective Risk Management. The same can be said for banking risk management. WATCH ON-DEMAND. ERM Today.

Management 195

Management Risk Management Lending System 195

South State Correspondent

AUGUST 31, 2022

Banks are full of documents. Each document contains an extensive array of data. Then there are vendor contracts, employment agreements, statements of work, loan documents, financial statements, tax returns, deposit account documents, policies, and an array of similar applications.

Data 74

Data Training Examples Taxes 74

Abrigo

MAY 20, 2022

Meet Model Risk Management Expectations Updates to the FDIC Risk Management Manual should steer institutions toward a model that manages risk and drives growth. Takeaway 1 Aside from meeting examiner expectations, proper model risk management can protect your institution from unnecessary risk. . FDIC Update.

Risk Management 195

Risk Management Management FDIC Meeting 195

Perficient

NOVEMBER 4, 2024

The report recommended that the agency develop a sector-specific AI Risk Management Framework. They also noted that, as with any activity or process in which a bank engages, identifying and managing risks are key. Explainable AI AI systems that are part of banks’ risk management models must be explainable.

FDIC 221

FDIC Regulation Risk Management Compliance 221

Bobsguide

MAY 30, 2022

To better help asset managers of European funds be prepared for the upcoming compliance requirements and regulatory disclosure obligations under the Sustainable Finance Disclosure Regulation (SFDR), global Fintech leader Broadridge Financial Solutions has launched a new Environmental, Social and Governance (ESG) reporting solution.

Management 147

Management Report Regulation Data 147

BankInovation

AUGUST 25, 2021

Encore Bank is working with fintech Compliance Systems to develop electronic treasury agreements that will embed compliance into bank documents. based private commercial bank already works with the vendor to embed compliance into its current loan and deposit account opening processes, said Chief Operations Officer Erin Simpson.

Compliance 98

Compliance Fintech System Operations 98

Perficient

OCTOBER 28, 2024

The Comment stresses that the use of fraud screening tools, such as those offered by third-party vendors that generate fraud risk services, must be offered in compliance with ECOA and the CFPA. Fraud screening.

Regulation 221

Regulation Fraud Tools Compliance 221

CFPB Monitor

MAY 3, 2022

On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law.

Analytics 147

Analytics blockchain Compliance Policies 147

PYMNTS

JULY 25, 2019

When it comes to regulatory compliance, no corporate is an island. An organization may have the resources to stay on top of ever-evolving regulations, but increasingly, businesses are being held accountable not only for their own compliance standing, but also that of their business partners down the supply chain. Is there an exception?

Compliance 100

Compliance Regulation Data Analytics 100

Perficient

DECEMBER 14, 2023

One of the examples is managing the 12-b1 fees, which are marketing and distribution costs in mutual funds. These fees are often unclear and fluctuating, creating significant administrative burdens for firms managing multiple funds. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments.

Training 221

Training Strategy Data Exercises 221

Perficient

DECEMBER 14, 2023

One of the examples is managing the 12-b1 fees, which are marketing and distribution costs in mutual funds. These fees are often unclear and fluctuating, creating significant administrative burdens for firms managing multiple funds. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments.

Training 221

Training Strategy Data Exercises 221

PYMNTS

JUNE 17, 2020

Esker , which specializes in artificial intelligence (AI)-driven process automation software, has launched a new supplier management solution in its procure-to-pay automation suite, which will help businesses manage and automate their supply chains, according to a press release.

Risk Management 141

Risk Management Management Policies Compliance 141

PYMNTS

FEBRUARY 8, 2018

Being a program manager isn’t easy. If it’s not holding money or providing a payment network, the program manager does it: AML (anti-money laundering) compliance, KYC (Know Your Customer), fraud mitigation, marketing, privacy, document review, OFAC compliance, reporting and more. Again: It isn’t easy.

Management 167

Management Compliance Maine Policies 167