TOPIC: Banker's Toolbox

Free Webinar: The Cannabis Conundrum

To put it bluntly, the changing regulatory environment puts financial institutions in a cloudy area regarding banking cannabis-related businesses (CRBs). While it can seem lucrative to bank these businesses, it doesn’t come without risks. For some financial institutions, they want to avoid these customers, but don’t know how to properly identify them. Join us for a free webinar on Thursday, May 30 as Steven Kemmerling, the founder and CEO of CRB Monitor will share the issues and considerations facing financial institutions that both (a) do not currently, knowingly bank the sector and (b) those that do or are thinking about beginning these relationships. 

Join us to learn:
  • The current state of the legal, regulatory, and market landscape(s)
  • How to identify and bridge cannabis-related policy and procedure gaps
  • Risk vs. Reward – How and why more FIs are banking the cannabis sector
Earn 1.25 CAFP, 1.25 CFSSP, 1.25 CRCM credits.

Register - Save your spot! 

    Blog: More Insight on the Remaining Life Method for CECL Estimates

    On April 11, all of the financial institution regulatory agencies came together for an “Ask the Regulators” webinar, focusing on the Weighted Average Remaining Maturity (WARM) method for calculating a current expected credit loss (CECL) reserve. This method, also commonly known as the “remaining life method,” has picked up considerable momentum over the last few months as institutions have gotten farther along the path toward completing their adoption efforts.

    In our latest blog, Chris Emery highlights a few takeaways from the information that was presented on the webinar, especially in key areas that previous materials may not have fully covered.

    Read more.

      Free Webinar - Kleptocracy in Your Institution [1 CAMS credit, 1.25 CAFP, CFSSP, CRCM credits]

      Register today

      Tuesday, April 23 | 1 - 2 p.m. CST

      Corrupt officials, both foreign and domestic, have long been a source of economic decline for countries around the globe. The U.S. financial system is a primary destination of illicit funds surrounding senior foreign political figures and political corruption. Learn the red flags of kleptocracy and how to keep your financial institution free from funds for terror financing and other illicit activity. Terri Luttrell, CAMS-Audit will lead the presentation. 

      Join the webinar to learn:
      • Ways that corrupt government leadership can create risk
      • Red flags that Abrigo’s financial crime investigators have seen
      • How to mitigate illicit activity and risk for your bank or credit union
      Earn 1 CAMS credit and 1.25 CAFP, CFSSP, CRCM credits for attending. 

      Register today

        BSA/AML Program Quality Control Process

        Quality control is a necessary piece of a successful BSA/AML program. Although, there is nothing in the FFIEC manual that requires a formal quality control process, it is something that regulators look for during an exam. It brings the investigations process full circle and is another part of your internal controls. Quality control in closed alerts and cases helps to ensure that the decision making and the documenting process follows the standards defined by your institution and can be used as a coaching opportunity for staff.

        Abrigo's quality control template provides a good starting place for institutions looking to implement or enhance their current QC process. If you missed our webinar on BSA/AML Investigation Best Practices and Quality Control you can watch it at your convenience on our website. 

          Whitepaper: CECL Survey - Where are financial institutions?

          Abrigo CECL Survey - Results show progress, some laggards

          For the third year in a row, Abrigo (formerly Farin, MST, Sageworks, and Bankers Toolbox) surveyed 125 individuals at a wide range of financial institutions to gauge CECL preparedness. The 2019 survey shows that as the Q1 2020 compliance date looms for SEC registrants, institutions of all types are making progress – but not enough, according to CECL experts. Nearly half of survey participants (and a majority of SEC filers) have already collected and validated data. This is important, because collecting and validating data for the loan loss calculation is typically one of the more significant bottlenecks and challenges in CECL implementation.

          “The clock is ticking,” said Regan Camp, Senior Director of Advisory Services at Abrigo, (formerly Farin, MST, Sageworks, and Banker’s Toolbox). “While many financial institutions are taking the necessary steps to make sure they are prepared for this important change in accounting for credit losses, it’s clear that others are falling behind their peers.”

          Download and read the full whitepaper.

            Cracking the Legal Cannabis Code: Banking Marijuana, Hemp, and CBD

            The cannabis industry can be hazy for financial professionals. Add the legislative issues facing the U.S. federal and state governments, and it can become highly overwhelming. In our latest blog, Terri Luttrell, CAMS-Audit discusses the difference between marijuana and hemp and where CBD falls into all of this. The 2018 Farm Bill legalized industrial hemp, but what exactly does that mean for financial institutions? Where does that leave CBD?

            Read more: https://www.abrigo.com/blog/2019/04/02/banking-marijuana-hemp-and-cbd/