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AML program productivity: Boost the impact of AML investigations

Abrigo

In addition, he noted, a recent consent order from the FDIC required an institution with assets below $1 billion to ‘establish satisfactory quality control procedures over the alert clearing and investigation process. Streamline case management processes. One of the largest areas for improvement in AML programs is case management.

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What Bank CEOs Should Tell Their Boards About Third-Party Vendor Risk

Gonzobanker

Vendor management is risky business. The FDIC issued a consent order against Discover Bank last year for lacking oversight into third-party risk management and a compliance vendor management program. Leadership should divulge to the board if it has concerns about any vendor hitting its promises. Reporting ​.

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Model Risk Management: Regulatory Priorities and Best Practices

Abrigo

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.

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FDIC’s New Banker Engagement Site (BES): Improving CRA & Compliance Exam Communication

Perficient

This month, the Federal Deposit Insurance Corporation (FDIC) launches it new Banker Engagement Site (BES) through FDIC connect. Chronology of Compliance Engagement In the pre-personal computer age , FDIC examiners would simply show up at a bank, often by surprise, and start requesting documents from bank executives.

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Silicon Valley Bank Failure – Lessons in Interest Rate Risk Management

South State Correspondent

The abrupt collapse of Silicon Valley Bank (SVB) is a stunning example of bank leadership not understanding interest rate risk, running into trouble with an inverted yield curve, and ignoring the impact of a severe monetary correction on long-duration assets. That combination made their liabilities very sensitive to safety.

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Decoding SVB’s Failure & FDIC’s Special Assessment

Perficient

In various press releases, the Federal Deposit Insurance Corporation (FDIC) has highlighted that an estimated $16.3 Our unparalleled financial services expertise , combined with digital leadership across platforms and business needs, empowers the largest organizations to overcome complex challenges and foster compliant growth.

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FDIC leadership failed to implement harassment prevention measures: OIG

American Banker

A report by the FDIC Office of the Inspector General found the agency failed to sustain corrective actions, leading to a persistent environment of sexual harassment, distrust of management and fear of retaliation.

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