July 23, 2021

Past Issues | Subscribe | ABA Bank Compliance magazine | ABA Banking Journal

July 23, 2021

How Artificial Intelligence Will Change the Way We Manage Compliance

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

Features

Pandemic Reshapes Banks’ Internal Risk Response

Even the best employee can do or say something that could put their company in a difficult position, and COVID makes conduct and internal risk issues even more acute.

WHY YOUR BANK NEEDS A CMS

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

Risk and Compliance News

Agencies Seek Comment on Proposed Third-Party Risk Management Guidance

The Federal Reserve, FDIC and OCC are seeking comments on a joint proposal designed to manage risks associated with third-party relationships, including relationships with financial technology-focused entities.

The Small Business Administration has issued a procedural notice on how lenders can apply for SBA to purchase and charge off Paycheck Protection Program loans for which the borrower has not applied for forgiveness or made payment on the loan.

PPP Loan Investigations: What’s on the Horizon for Banks?

The more that banks can be proactive in preparing for inquiries, the better they will be able to defend themselves.

Biden Order Calls for Movement on Data Access Rule, Review of M&A Rules

President Biden recently issued a wide-ranging executive order on competition issues across the U.S. economy.

The FDIC board approved a proposal to simplify the deposit insurance rules for deposits of trusts and mortgage servicing accounts. Comments on the proposal will be due 60 days after publication in the Federal Register, and ABA will file a comment letter.

Crisis Response Management: Decoded

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

Training

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

September 29
Webinar: Best Practices for Monitoring Servicing Performance

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

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

December 1-3
Conference: ABA/ABA Financial Crimes Enforcement Conference
Gaylord National Resort and Convention Center, National Harbor, MD