ABA Risk and Compliance
 
 
 
 
July 9, 2021
How Artificial Intelligence Will Change the Way We Manage Compliance
4CRisk.ai®

What’s the role of the modern chief compliance officer, and how can AI-driven data management and analytics improve oversight of compliance?
Click here to learn more
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Features
Amid discussion by regulators and bankers of climate risk metrics, researchers propose a bottom-up approach for corporate credit climate stress.
Adopting multiple solutions, or "cloud bandwagoning," is bound to create friction within a bank’s systems—resulting in unpredictable consequences.
Asurity Technologies
Western Union Business Solutions
WHY YOUR BANK NEEDS A CMS
Ncontracts
Regulators have been emphasizing the importance of a strong and effective Compliance Management System. This whitepaper will walk you through the basics of a CMS while offering practical advice on how to ensure your CMS supports your strategic goals.Takeaways include:
·A primer on CMS requirements
·4 key elements to prioritize when designing or updating a CMS
·7 CMS features that should align with your bank’s goal and structure
·Examples of failed CMSs and compliance controls
CLICK HERE TO DOWNLOAD AND LEARN ABOUT OUR CMS SOFTWARE
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Risk and Compliance News
As the annual summit of G20 finance ministers and central bank governors kicked off in Italy, the Financial Stability Board released its roadmap for global regulatory coordination on climate-related financial risks.
The Consumer Financial Protection Bureau has issued a consumer complaint bulletin that focused on complaints related to certain COVID-19 relief efforts.
As banks move to responsibly integrate artificial intelligence and machine learning capabilities into their business processes, ABA urged regulators to focus on providing greater clarity around the use of AI and ensuring that there is a consistent regulatory standard for its use across all financial services providers.
Mystery shopping is a form of internal self-testing—and a technique that banks may be subjected to by external organizations. Raise your fair lending IQ with compliance-focused aspects of mystery shopping.
Questions and answers from the July/August 2021 ABA Regulatory Policy and Compliance Inbox.
Abrigo
A10 Networks, Inc
The Federal Housing Finance Agency issued a policy statement clarifying its position on fair lending laws with respect to the entities it regulates: Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
With pandemic-related rental protections set to expire over the coming months, the Consumer Financial Protection Bureau issued a compliance bulletin and policy guidance regarding consumer reporting of rental information.
The Financial Crimes Enforcement Network has signaled that it intends to move ahead with a rulemaking to establish a no-action letter process.
Crisis Response Management: Decoded
Experian Partner Solutions®
In an age of infinite information where a company’s reputation can be destroyed in as little as 140 characters, it may seem difficult to bounce back from a crisis, but it is possible. Businesses that are prepared for natural disasters or other incidents can protect themselves from serious financial losses, and keep their reputation and customer loyalty intact, if they have the right tools.
Download this e-book to explore
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Training

July 14
Webinar: Best Practices for Conducting FCC Risk Assessments

July 28
Webinar: Strategies for Surviving Offsite Regulatory Examination

August 2 - 13
Virtual School: Risk Management School – Foundational

August 2 - September 3
Facilitated Training: Managing the Bank's Investment Portfolio

August 4
Webinar: Understanding Blockchain and Cryptocurrency

August 17
Webinar: Managing Compliance Under Pressure

August 17 - 27
Virtual School: Risk Management School – Advanced

August 25
Webinar: Compliance Management for First-Line Operations

October 18-22
School: Compliance School – Foundational
Emory Conference Center Hotel, Atlanta

October 18-22
School: Compliance School – Advanced
Emory Conference Center Hotel, Atlanta