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How Banks Can Prepare for the FDIC’s Proposed Standards

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While banks may argue that this oversight and change in philosophy will not lead to an overall improvement in corporate governance , it should be noted that since the 2008 financial crisis, federal banking regulators have become more involved in overseeing governance and risk management.

Banking 98
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Inflation Considerations for Risk Managers and Insurance Buyers

Risk Management Monitor

Inflation’s Impact on the Insurance Market. In light of current economic conditions, the directors and officers (D&O) insurance market is now facing several notable inflationary risks. With high unemployment and higher costs, this also poses a risk to employment practices liability (EPL) insurers.

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. This mitigated the risk of losing money if the collection agency went bankrupt.

Banking 98
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The Relationship Between Internal Controls and Internal Audits

Reciprocity

Later scandals after the 2008 financial crisis also increased the importance of robust internal controls. Risk assessments provide a basis for risk management and mitigation. It’s essential to perform these assessments regularly to assure that the proper controls are in place to mitigate and manage existing and evolving risks.

Audit 52
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The Relationship Between Internal Controls and Internal Audits

Reciprocity

Later scandals after the 2008 financial crisis also increased the importance of robust internal controls. Risk assessments provide a basis for risk management and mitigation. It’s essential to perform these assessments regularly to assure that the proper controls are in place to mitigate and manage existing and evolving risks.

Audit 52
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Data Privacy Awareness Month 2024: Roundup of Expert Quotes

Solutions Review

This is likely to impact industries where transparency matters, such as healthcare, financial services, and insurance. Investing in systems and processes that grant you this visibility and training will help position generative AI as an aid for productivity in the workplace, and help mitigate data privacy concerns.

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Data Privacy Day 2024: The Definitive Roundup of Expert Quotes

Solutions Review

This is likely to impact industries where transparency matters, such as healthcare, financial services, and insurance. Investing in systems and processes that grant you this visibility and training will help position generative AI as an aid for productivity in the workplace, and help mitigate data privacy concerns.