Credit Risk, Credit Unions and Cybersecurity

Credit Risk

Credit Unions

Cybersecurity

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. . The new year often brings a time of reflection and goal setting.

Credit Unions

Credit Unions Cybersecurity CECL Credit Risk

The 2023 NCUA supervisory priorities: Takeaways for credit unions implementing CECL

Abrigo

MARCH 31, 2023

NCUA expectations for credit unions post-CECL adoption The NCUA's focus on risk, especially credit risk, has implications for credit unions instituting CECL this quarter. Takeaway 2 Credit unions may still have questions about regulatory expectations for CECL after adopting the new standard.

Credit Unions

Credit Unions CECL Credit Risk Credit and Collections

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What is a Loan Origination System (LOS)?

Abrigo

APRIL 12, 2021

Takeaway 2 Once a bank or credit union understands the need for an LOS, it develop one or use a third-party vendor. A loan origination system (LOS) has become a common banking buzzword among banks and credit unions in recent years. It’s also important to understand how an LOS may be able to help your bank or credit union.

Credit Unions

Credit Unions Credit Risk Credit and Collections Cybersecurity

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

Abrigo

JULY 14, 2023

Leapfrog competition, reduce risk How to develop banking strategies using your data Everywhere bank and credit union leaders look, it seems, someone is talking about how financial institutions should leverage their data and analytics to develop strategies for leapfrogging competition and reducing risk.

Credit Unions

Credit Unions CECL Dashboards Revenue Recognition

2023 Fraud trends: What banks and credit unions can expect

Abrigo

DECEMBER 27, 2022

Financial Cybersecurity. Banking cybersecurity & cybercrime: Protecting banking customers starts with you. Lending & Credit Risk. Portfolio Risk & CECL. The post 2023 Fraud trends: What banks and credit unions can expect appeared first on Abrigo. Keep me informed. Whitepaper. Learn More.

Credit Unions

Credit Unions Cybersecurity CECL Credit and Collections

5 reasons your financial institution should attend the ThinkBIG 2024 conference

Abrigo

JANUARY 30, 2024

Takeaway 3 ThinkBIG conference sessions can help bank and credit union professionals earn required credits for continuing education. Abrigo’s ThinkBIG conferences have been a cornerstone of learning for lenders, risk professionals, and AML/CFT professionals for more than two decades.

Credit Unions

Credit Unions CECL Credit Risk Cybersecurity

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. A covered financial institution does not include credit unions.

Cybersecurity

Cybersecurity CECL Law Firms Credit Risk

How to detect counterfeit checks

Abrigo

AUGUST 5, 2024

The basics of counterfeit check detection for banks and credit unions Check fraud is surging and technology advances aren't helping. This minimizes fraud risk and helps maintain the integrity of financial transactions. Are traditional methods of detection enough to protect your financial institution from losses?

Credit Unions

Credit Unions Cybersecurity CECL Credit Risk

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

Abrigo

DECEMBER 7, 2021

According to the FFIEC, there are no required risk categories, and the number and detail of these categories vary based on the bank or credit union's size or complexity. Determine whether these volumes are increasing or decreasing and what controls the bank or credit union has in place for each. Fraud Prevention.

Cybersecurity

Cybersecurity Credit Unions Transactions Credit and Collections

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

Abrigo

JULY 16, 2021

Community financial institutions generally have a much lower risk profile than larger U.S. banks and credit unions, and they may believe that these serious AML/CFT concerns will not affect their communities. There are many steps community banks and credit unions can take to stop these illicit funds from flowing through our U.S.

Credit Unions

Credit Unions Cybersecurity CECL Credit Risk

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

Abrigo

APRIL 30, 2020

Automated models enable institutions to better understand how much revenue a bank or credit union could lose based upon different scenarios. Prioritizing these requests will be critical in successfully managing credit risk and maintaining profitability. Financial Cybersecurity. Artificial Intelligence. Learn More.

Cybersecurity

Cybersecurity Credit Unions Credit Risk Small Businesses

Staying Connected in a Remote Financial Services Workforce

Abrigo

JUNE 30, 2020

Communication and collaboration are key to helping remote bank and credit union workers succeed. For PPP lenders, many workers might have continued coming into the bank or credit union branch or office, but they were unable to meet face-to-face with co-workers or customers/members due to restrictions on in-branch traffic.

Credit Unions

Credit Unions Cybersecurity Credit Risk CECL

Hosted vs. On-Premise Solutions for Financial Institutions

Abrigo

FEBRUARY 3, 2020

One challenge at a lot of banks and credit unions, however, is that a substantial chunk of the IT budget is tied up in technology infrastructure and maintenance and therefore, cannot be used for those new initiatives. Credit Risk Regulation. Financial Cybersecurity. Asset/Liability. Fraud Prevention. Learn More.

CECL

CECL Credit Unions Cybersecurity Credit Risk

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

Digital Business Lending ROI: A Comprehensive Guide

Biz2X

JULY 25, 2023

The demand for seamless and convenient end-to-end financial services online will only increase with time, and community banks and credit unions must leverage technology to optimize their lending processes and remain at the cutting edge of customer service.

Default

Default Cybersecurity Credit Unions Credit Risk

AI and generative AI use cases in banking: 6 real-world examples

Abrigo

MAY 8, 2024

How banks and credit unions use genAI today Short supporting copy. WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. Credit unions are jumping in too. Introduce key takeaway below.

Credit Unions

Credit Unions Cybersecurity CECL Credit and Collections