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Risk Management

Doomsday Prepping for Your Business

By Derek Meek

The concept of “doomsday preppers” always fascinates me, not only for the content itself, but for the internal debate it sparks. Are these people crazy, or the smartest people out there? Is a doomsday inevitable, and if so, will I wish I had paid more attention to how to filter water and can tomatoes?

Similarly, in the world of finance, it is easy to find an expert who is predicting financial doom in the near future, and usually with far less canned food and ammunition on the shelves in the background. Almost all experts agree that a downturn of some significance is coming at some point, however, no one knows for certain when it might happen and what might spark it. Here are some tips that are good to remember as the asteroid hurtles toward your own bunker:

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Cyber Risk for U.S. Businesses Held Steady in Q1

According to a recent Assessment of Business Cyber Risk report, released by the U.D. Chamber of Commerce and FICO, the level of cyber risk to the U.S. business community held steady for the first quarter of 2019, with a national risk score of 687.

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Speed Bumps on the Road to Automation

Financial institutions face many roadblocks, both external and internal, when it comes to automation adoption according to a recent Cognizant study. From security issues (91 percent of respondents identified this as a “high” or “medium” challenge) and development (91 percent), to servcie production line cooperation (84 percent) and ongoing maintenance (89 percent), it is no wonder that the study has found that 65 percent of automation efforts remain in the proof-of-concept stage.

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Consumer Delinquencies Mixed in Fourth Quarter

Consumer credit delinquencies were mixed in last year’s fourth quarter, with delinquencies falling for the composite index of closed-end loans and rising in other open-end loan categories, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies fell in 6 of the 11 categories tracked by ABA while five categories rose.

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Make the ALCO Process Meaningful, Not a Checkbox!

By Lonnie Harris

We are fortunate enough to work with many community banks in several states. We lead or participate in asset/liability committee meetings almost every single day and are constantly working with bankers to prepare and respond to examiners’ very detailed questions. While helping bankers meet their regulatory requirements is satisfying, it is far more rewarding to help bankers efficiently manage their banks.

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