Blog, Credit Risk and Cybersecurity - Credit Management Source

2020 Goals for Credit Unions Based on NCUA Supervisory Priorities

Abrigo

JANUARY 27, 2020

Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Strengthen credit risk by improving your credit union's loan underwriting standards. Be proactive in cybersecurity controls and implement best practices. . Strengthen credit risk by improving underwriting. talk to an advisor.

Credit Unions

Credit Unions Cybersecurity CECL Credit Risk

How the Money Transmitter Modernization Act could build a more unified future

Abrigo

JUNE 12, 2023

Cybersecurity and data protection : Enforce stringent cybersecurity measures to protect customer data and financial transactions. This includes the development of internal controls, customer due diligence procedures, ongoing monitoring, and suspicious activity reporting.

Cybersecurity

Cybersecurity Transactions Credit Risk

Banking Computer-Security Incident Notification Requirements Take Effect

Abrigo

APRIL 6, 2022

The war in Ukraine has financial institutions on high alert for cybersecurity threats. Background Historically, the federal banking regulators required financial institutions to file two types of reports for certain cybersecurity incidents. Stay up to date with cybersecurity issues. Lending & Credit Risk.

Cybersecurity

Cybersecurity CECL Law Firms Credit Risk

Supervisor focus: Credit risk management, stress testing

Abrigo

MAY 19, 2016

Monitoring credit risk management, interest rate risk and banks’ ability to stress test loans affected by low oil prices are among the priorities for supervisors at the Office of the Comptroller of the Currency (OCC) these days, according to the agency’s recent mid-year status report on its operating plan.

Credit Risk

Credit Risk Cybersecurity

5 reasons your financial institution should attend the ThinkBIG 2024 conference

Abrigo

JANUARY 30, 2024

The Credit + Lending + Portfolio Risk track will cover topics on managing credit risk, making smarter loans faster, managing the current expected credit loss (CECL), stress testing, and asset/liability management (ALM).

CECL

CECL Credit Unions Credit Risk Cybersecurity

Cyber Complications for Vendor Risk Management

Abrigo

OCTOBER 21, 2019

Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. This is especially challenging with cloud-based providers where cybersecurity concerns are even greater. Credit Risk. Lending & Credit Risk.

Cybersecurity

Cybersecurity CECL Credit Risk

OTP Bots Are a Growing Threat: What Financial Institutions Need to Know

Abrigo

DECEMBER 3, 2021

by calling the phone number on the back of a debit/credit card) to confirm that they are, in fact, speaking with an authorized representative. . Financial Cybersecurity. Lending & Credit Risk. Portfolio Risk & CECL. Customers should be encouraged to call the corporate call center (e.g., Fraud Prevention.

Cybersecurity

Cybersecurity CECL Credit Risk

How to Conduct an Exam-Proof BSA/AML Risk Assessment

Abrigo

DECEMBER 7, 2021

Expert advisory consultants can partner with the financial institution to provide a risk assessment that evaluates and documents your aggregate risk profile and solidifies confidence in your BSA/AML program. Financial Cybersecurity. How to Conduct an Exam-Proof BSA/AML Risk Assessment. Financial Cybersecurity.

Cybersecurity

Cybersecurity Credit Unions Transactions Credit and Collections

5 Ways Your Transaction Monitoring System Can Detect COVID-19 Related Fraud

Abrigo

AUGUST 19, 2020

Lending & Credit Risk. Financial Cybersecurity. Contact us to set up a demo and see how. . Asset/Liability. C&I Loans. Loan Origination System. Member Business Lending. SBA Lending. How CFIs Can Remain Relationship-Focused in a Digital World. Learn More. BSA Rules and Regulation. Fraud Prevention. Learn More. Card Fraud.

Transactions

Transactions Cybersecurity Credit Risk

Getting Your Financial Institution in Shape for Loan Workouts Amid the Coronavirus Pandemic

Abrigo

APRIL 30, 2020

Prioritizing these requests will be critical in successfully managing credit risk and maintaining profitability. Financial Cybersecurity. Artificial Intelligence. Artificial Intelligence Scenarios Strengthen Your BSA Program. Learn More. Artificial Intelligence. BSA Software. FinCEN Strengthens Commitment to Digital Innovation.

Cybersecurity

Cybersecurity Credit Unions Credit Risk Small Businesses

FinCEN Releases AML/CTF Priorities: Implications for Community Financial Institutions

Abrigo

JULY 16, 2021

Lending & Credit Risk. Portfolio Risk & CECL. FATF is the global watchdog for AML/CFT activity, and it is important to note that the United States shows full support in global efforts by their recent priorities release. Gain confidence in your BSA program. Learn more. BSA Rules and Regulation. BSA Training. Learn More.

Credit Unions

Credit Unions Cybersecurity CECL Credit Risk

FinCEN Releases New Advisory on Cybercrime During COVID-19

Abrigo

AUGUST 10, 2020

T he Cybersecurity and Infrastructure Security Agency (CISA) , the United States ’ infrastructure risk advisor , warns individuals to remain vigilant for scams related to COVID-19. Lending & Credit Risk. Financial Cybersecurity. Individuals must remain vigilant for scams related to COVID-19. C&I Loans.

Cybersecurity

Cybersecurity Transactions Credit Risk

Five Things BSA Officers Need to Know in COVID-19

Abrigo

AUGUST 18, 2020

Lending & Credit Risk. Financial Cybersecurity. If financial institutions can focus on these five things as they maintain their compliance, they will come out of this pandemic stronger and ready to serve their customers and members better. Asset/Liability. C&I Loans. Loan Origination System. Member Business Lending.

Cybersecurity

Cybersecurity Credit and Collections Transactions Credit Risk

Hosted vs. On-Premise Solutions for Financial Institutions

Abrigo

FEBRUARY 3, 2020

The IT team is able to shift that time to other projects, perhaps on innovation that can improve the customer experience or better manage operational or credit risk, or improve efficiency. “If Portfolio Risk & CECL. Credit Risk Regulation. Financial Cybersecurity. Financial Cybersecurity.

CECL

CECL Credit Unions Cybersecurity Credit Risk

4 Sure Signs Your PPP Loan Will NOT Be Forgiven

Abrigo

APRIL 30, 2020

Financial Cybersecurity. For additional information on PPP lending resources, please visit the CARES Act and Paycheck Protection Program resources page. Artificial Intelligence. Artificial Intelligence Scenarios Strengthen Your BSA Program. Learn More. Artificial Intelligence. BSA Software. FinCEN Strengthens Commitment to Digital Innovation.

Cybersecurity

Cybersecurity Small Businesses Credit Risk

Red Flags for COVID-19 Related Fraud – What You Need to Know

Abrigo

SEPTEMBER 18, 2020

Financial Cybersecurity. Lending & Credit Risk. Financial institutions are in a unique position to educate customers/members and detect fraud before the victim suffers financial loss and embarrassment. BSA Rules and Regulation. Card Fraud. Customer Due Diligence. Financial Elder Abuse. Financial Elder Abuse. Fraud Trends.

Electronic Funds Transfer

Electronic Funds Transfer Cybersecurity Transactions Credit Risk

Data-driven strategies for banks and credit unions: Start here

Abrigo

JULY 14, 2023

Learn more about Abrigo Connect.

Credit Unions

Credit Unions CECL Dashboards Revenue Recognition

Here’s what you need to know about marketplace lending vs. direct lending

Credibly

MAY 28, 2024

AI integration will become increasingly used for more accurate and efficient credit risk assessments. The changing atmosphere of data and privacy practices will result in new cybersecurity measures. Financers will adapt AI algorithms to analyze large data sets, such as a borrower’s financial information.

Credit Scoring

Credit Scoring Credit and Collections Cybersecurity Small Businesses

Staying Connected in a Remote Financial Services Workforce

Abrigo

JUNE 30, 2020

As a result, now is a good time to revisit work-from-home strategies – not only for regulatory and cybersecurity concerns, but also for staying connected and maintaining collaboration. Given that some states are slowing reopening, employers may begin or may already be rethinking plans to start bringing staff back into the office. Learn More.

Credit Unions

Credit Unions Cybersecurity Credit Risk CECL

Is 2016 the year for bank M&A?

Abrigo

NOVEMBER 19, 2015

The top four answers, all being selected 50 percent of the time or higher, were enterprise risk management, cybersecurity, stress testing and capital planning. For tips on how to improve your institution’s credit culture, access the archived webinar: Instilling the Right Credit Risk Culture.

Cybersecurity

Cybersecurity Credit Risk Credit Unions

The role of bank directors in managing risk

Abrigo

APRIL 12, 2016

The areas for which banks should set risk objectives and parameters may vary from institution to institution, but at a minimum, the FDIC expects objectives and parameters for: • Overall credit risk • Asset concentrations, by business line and by borrower or issuer, as appropriate • The bank’s funding mix • Interest rate risk.

Cybersecurity

Cybersecurity Credit Risk

101 Stock Tips That Will Cause You to Go Bankrupt — Buyer Beware

Due

JUNE 26, 2024

As such, this blog post introduces 101 stock tips that, if followed blindly, could lead to bankruptcy. Know what your risk tolerance, investment horizon, and financial goals are before you invest a dime. Invest in companies with a high level of exposure to cybersecurity risks. And many may find that boring. The reason?

Brokerages

Brokerages Bankruptcy Cybersecurity Transactions