TOPIC: Risk

DocuSign or In Person Electronic Signatures

Director at a Company (USA)
Originally Posted by Toni Verret, Chief Risk Officer of United Community Bank, on 1 Jul 2019 to CBANC FI Professionals Community.

     We are implementing DocuSign to accept electronic signatures.  We have been using it for some time on sending disclosures that required view only.  We are wanting to use it for in person signing at the branch; however, want to make sure we are addressing the requirements of E-Sign.  Would any bank that does in person signing via any vendor be willing to discuss how they meet the E-Sign requirements of 1) consent and 2) ability to open.

    Educational Webinar | How do you find your high-risk customers? - Join us July 31

    July 31 at 12:30 PM - 01:30 PM EST
    How do you find your high-risk customers?
    Eliminate Manual Processes for Identifying Private ATM Owners, MSBs, NGOs, MRBs, CIBs, and more


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    To identify customers in higher risk categories such as Private ATM Owners, Money Service Businesses (MSBs), Marijuana-Related Businesses (MRBs), Non-Governmental Organizations or Charities (NGOs), and Cash Intensive Businesses (CIBs), most compliance programs rely on manual processes that can cost time and strain resources.

    Join us for this presentation as we discuss how to alleviate manual processes for identifying higher-risk customers, automate due diligence processes, and strengthen your overall compliance program.

    Highlights:
    • Review of CDD/EDD requirements and expectations as outlined in the FFIEC BSA/AML Exam Manual.
    • Discussion on the challenges and of conventional processes to identify high-risk customers.
    • Overview of targeted monitoring to uncover unidentified higher-risk customers.
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      Demonstration | Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility - Join us July 17

      July 17 at 12:30 PM - 01:30 PM EST
      Consolidating Fraud Prevention and Management to Reduce Losses & Improve Visibility
      Cross-Channel Analytics, Big Data, and Machine Learning to Fight Fraud


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      Financial institutions are facing common challenges in combatting fraud. Adding layers of protection to detect and prevent fraudulent activity, managing your alert volume, and reporting losses can become increasingly more difficult if there are multiple detection systems across different fraud and operational teams, and ultimately leads to a lack of visibility into your true fraud problem.

      Join us for this presentation as we discuss the benefits of consolidating your fraud prevention and management functions with Verafin’s Enterprise Fraud Management platform. Learn how to reduce losses, strengthen prevention efforts across all channels and departments, and enable a full picture of fraud at your institution to drive strategic decision-making.

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        Free Webinar | Shedding Light on the Dark Web - 1 CAMS credit, 1.25 CAFP, CFSSP, CRCM credits

        Click here to register

        Tuesday, July 23 | 1 p.m. CST/ 2 p.m. EST
        Presented by: Eli Dominitz, CEO of Q6 Cyber


        The Dark Web is home to many of the fraudsters who plague US financial institutions. In this webinar, hosted by Q6 Cyber and Abrigo, we will venture into the Dark Web and shed light on the criminals targeting banks and credit unions, highlighting the latest trends in financial fraud and cybercrime observed in the first half of 2019.

        We will browse the leading fraud and hacker communities, and see the ever-growing underground economy for stolen payment card data, online account credentials, employee records, and much more – all of which increase fraud losses, trigger information security breaches, and damage reputation and customer relationships. We will also profile the “latest and greatest” tools and tactics developed by criminals to bypass industry-leading security and anti-fraud controls.

        Join to learn:
        • What are the latest trends in financial fraud and cybercrime as seen on the Digital Underground, Dark Web, and Deep Web
        • What are the latest tools and tactics deployed by leading cybercriminals and fraudsters
        • How do leading financial institutions leverage intelligence from the Digital Underground to combat cybercrime and fraud

        Click here to register

          Demonstration | End-to-End High-Risk Customer Management & CDD/EDD - Join us June 10

          July 10 at 12:30 PM - 01:30 PM EST
          End-to-End High-Risk Customer Management & CDD/EDD
          Identification, Stratification, Surveillance & EDD Workflows for High-Risk Customers


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          How accurate is your institution’s customer risk profile? A one-size-fits-all approach to customer risk can lead to thousands of high-risk customers being flagged for continuous review, increasing your workload.

          Verafin’s end-to-end solution for High-Risk Customer Management and CDD/EDD helps you effectively manage higher-risk categories of customers, including ATM Owners, MRBs, MSBs, NGOs, and more.

          Join us as we demonstrate how Verafin identifies customers in high-risk categories to intelligently categorize them, and then stratifies the risk within those groups. Through ongoing surveillance, Verafin provides a more accurate picture of your institution’s risk profile to strengthen your end-to-end CDD/EDD program.

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            Incidents & Issues Management

            AVP at a bank ($2.5BUSA)
            Does anyone have a policy or procedure for the below topic?

            Identifying a problem as an Incident or Issue:

            What is an Incident? - Incidents are unexpected or unplanned events that occur which have a negative impact (e.g. financial, reputational, strategic, regulatory, etc.) on the overall bank. (i.e.: large fraud loss, data breach, a single event such as a large charge-off, etc.)

            What is an Issue? - Issues are identified gaps or problems related to bank process, policy or the operating environment. They may be related to incidents, but often will be identified through review mechanisms (i.e. Risk Assurance, process control review).
                                                                           Determining the level of materiality:
            Low (This rating indicates occasion minor issue(s) may occur which can be quickly addressed by management.  Risks are controlled in a manner that does not require additional or more than normal supervisory attention.)       

            Moderate (This rating indicates minor weaknesses or deficiencies may exist, but are correctable in the normal course of business. Generally, risks are controlled in a manner that does not require additional or more than normal supervisory attention. If uncorrected, the identified weaknesses could have an adverse effect on the bank’s performance.)      

            High (This rating indicates a critical significant risk exposure.  A number of significant risks to the bank have not been adequately addressed, and management deficiencies warrant immediate attention. Unless properly addressed, these deficiencies will jeopardize the bank’s performance, expose the bank to risk outside of appetite or result in regulatory or legal exposure.

             

              Webinar - ERM 101: What's COSO, and Why Should I Care?

              Whether you’re a CRO or just starting out in risk management, this COSO discussion will highlight core principles and arm you with knowledge that will wow at your next committee or board meeting. Register today!

              COSO’s voluntary framework, Enterprise Risk Management—Integrating with Strategy and Performance, offers a roadmap for creating stronger, more resilient institutions that are poised to take early action to exploit opportunities and defend against threats. It’s not just about minimizing risk. It’s understanding how changes in risk impact decisions and making the most of that awareness.

              This webinar will dig into COSO and its best practices for ERM to give you insights into:
              • Improving strategy and decision-making with ERM
              • Applying the 5 components and principles of the ERM framework
              • The relationship between risk management, performance and value
              • Integrating COSO’s framework into any institution, regardless of size
              • COSO’s 5 components for effective internal controls
              Register today!

                Infographic | Marijuana-Related Businesses - The Risks & Rewards of Banking a Growing Industry

                Infographic
                Marijuana-Related Businesses
                The Risks & Rewards of Banking a Growing Industry


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                Marijuana-related businesses (MRBs) have been receiving a lot of attention lately. This growing industry is already worth $7 billion in the U.S., with that value projected to more than quadruple over the next 8 years, creating many questions for financial institutions around banking MRBs.

                This infographic provides a handy introduction to the world of MRBs, quickly mapping marijuana law by state, examining the number of businesses that have been flagged as marijuana-related in the Verafin Cloud to date, and offering insight into identifying and assessing related compliance risk.

                Download Now

                  Last Chance to Register! Webinar - Understanding Fair Lending Compliance Risk

                  Whether you’re a risk management or compliance professional, join us for advice on how to protect your institution and ensure borrowers are treated fairly. Register today!

                  In the race to comply with fair lending regulations, the finish line is constantly moving. Evolving HMDA requirements and increased public interest in allegations of discrimination makes running afoul of fair lending regulations more than just a regulatory and financial headache. It can also be a public relations nightmare.

                  This webinar will help you understand fair lending compliance risk and the nine essentials of a strong compliance management program. You’ll gain insights into:
                  • Today’s fair lending landscape
                  • Lessons learned from recent fair-lending settlements
                  • Mitigating key fair lending risks
                  • Redlining compliance risks
                  • Tips for improving fair lending compliance
                  Register today!

                    Webinar | Banking Marijuana Related Businesses - Join us June 26

                    June 26 at 12:30 PM - 01:30 PM EST
                    Banking Marijuana Related Businesses
                    Regulatory & Due Diligence Challenges for Financial Institutions


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                    As the cannabis industry continues to grow in the US, financial institutions are facing increased regulatory uncertainty and due diligence challenges for banking Marijuana-Related Businesses (MRBs).

                    Join us for this educational webinar, during which we will cover: 
                    • Highlights from FinCEN Guidance on Marijuana-Related Businesses
                    • Challenges of Customer Due Diligence for high-risk customers, including direct and indirect cannabis companies 
                    • Technology to improve due diligence and compliance processes for MRBs.
                    Register Now