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Best Practices in Banking Vendor Management

By Scott Sargent

For the past several years, federal regulators have targeted vendor management risk as one of their top regulatory priorities. The growing reliance on third-party service providers is only increasing the need and demand for effective vendor management programs.  On April 2, the FDIC reminded the banks under its supervision that it expects them to comply with the guidance previously issued.[1]

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The Long, Winding DIF Road

By Tom Bengtson

You might remember in late 2009 when the FDIC required banks to pre-pay three years’ worth of deposit insurance premiums. Despite a one-time 5-basis-point special assessment levied against the industry mid-year, the Deposit Insurance Fund was precariously low at a time when more bank failures seemed imminent. The mandated pre-pay, however, flooded the DIF with $45 billion, which proved essential for getting it through the crisis. Protected by massive liquidity migrated from volatile equity markets, banks withstood the financial hit.

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What U.S. Banks Should Know About Preparing for Dynamic Governance

By Amandeep Khurana

It has been more than a year since the General Data Protection Regulation went into effect in Europe, and financial institutions are already preparing for the 2020 start of the California Consumer Protection Act (CCPA). However, this is far from the end of the process. New privacy regulations are coming both in the U.S. and around the world. Financial institutions that look at satisfying each new regulation as a separate project requiring incremental changes across their increasingly complex and global data infrastructures will struggle to meet compliance deadlines and ensure accuracy.

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Managing Risk Throughout the Lending Lifecycle

By Suzanne Konstance

“Disruption” is the hot trend of the moment. It seems every industry, whether commercial or consumer, has an individual, company or technology that promises vast improvements via the disruption of existing practices. The truth is that disruption is constant, and in the banking sector, automation actually led to the disruption of consumer and retail banking some time ago. As a result, big changes are now cascading into other areas of banking.

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Has Your Organization Spent Enough Time Focused on Your Customer Tax Reporting Requirements?

By Tara Ferris, Justin O’Brien and Paul Frasco

The last several years have shown a dramatic increase in the volume and complexity of customer tax information reporting (i.e., Forms 1099), highlighting challenges in the back office tax operations function responsible for tax reporting and withholding. These last few years have taught us that organizations would be prudent to focus on potential reputational risks of customer tax reporting and withholding as well as how to make their process more efficient and effective.

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