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Cyber Complications for Vendor Risk Management

Abrigo

Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. On top of initial vendor due diligence, there are ongoing, systematic approaches to managing third-party relationships. . Portfolio Risk & CECL. Learn More. Learn More.

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Cyber Complications for Vendor Risk Management

Abrigo

In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. The spotlight from federal and state regulators continues to shine on the use of third parties, and the pressure for those vendors to meet regulatory guidelines has greatly increased.

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A Guide to Fortify Your Institution Against Senior-Level Embezzlement Risks

Perficient

Clear Policies and Procedures: Establishing clear guidelines and protocol practices is crucial in safeguarding your business. Establish clear guidelines and protocols for financial transactions, approvals, and reporting. Regularly review and update policies annually to ensure compliance with current rules and regulations.

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Combating inconsistency in risk management

Abrigo

When it comes to the risk management process, there is no one-size-fits-all approach. “It is as much an art as a science,” says Tim McPeak, risk management consultant at Sageworks. ” But these inconsistencies pose significant challenges to managing credit risk at financial institutions.

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Risk management in the cloud: A strategic imperative

Insights on Business

Cybersecurity risk is at or near the top of every list of concerns for these institutions. Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines. Three pillars of cyber risk management on the cloud. Implementing an effective, end-to-end cyber risk framework.

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These resources on interest rate risk, liquidity, and CECL got the most downloads in 2023

Abrigo

Top banking risk management papers and infographics Abrigo experts' insights on deposit pricing, stress testing, loan review, and CECL were popular with banking risk professionals. You might also like this webinar, "Unraveling risk rating: Making sense of your best early warning tool." Here are the top resources.

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Effective CECL model validation: A framework

Abrigo

Applying model risk management to CECL What's involved in CECL model validation? Learn what banks, credit unions, and others subject to CECL accounting can expect from this risk management process. Model validation is a crucial aspect of model risk management.