Remove Banking Remove Insurance Remove Mitigation
article thumbnail

How Banks Can Prepare for the FDIC’s Proposed Standards

LogisManager

In what is seen as a significant shift, the Proposed Standards will move away from the reliance on state law in favor of establishing governance and oversight obligations for banks. Among the areas expected to see change within compliance management of these banks will include obligations, board composition, duties, and committee structure.

Banking 98
article thumbnail

CrowdStrike: Lessons on the Importance of Contracts, Insurance and Business Continuity

IT Governance BC

Mitigating supply chain risk After widespread coverage, the CrowdStrike outage from 19 July 2024 hardly needs an introduction. According to Parametrix , an insurance company specialising in Cloud outages, cyber insurance policies likely cover up to 10–20% of losses only. Aviation, banking, healthcare, etc.]

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

LogisManager

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.

Banking 98
article thumbnail

In Cybersecurity, the Agility and Speed of Small Banks is an Advantage

FS-ISAC

As a financial services cybersecurity professional who has worked on three continents for large multinational institutions, I understand the advantages and challenges for security departments at banks both large and small. Faced with increasingly sophisticated cyber attacks, small banks can use their size to their advantage.

Banking 59
article thumbnail

5 Effective Strategies to Mitigate Market Risk

Reciprocity

The equity risk premium (ERP) is the extra returns you can demand for taking on the risk of investment in the stock market rather than making a risk-free investment (say, in an insured bank savings account). What Are Some Methods for Managing Market Risk?

article thumbnail

5 Key Takeaways from the EU’s Digital Operational Resilience Act (DORA)

Pure Storage

The UK Takes the Lead in Enforcement While the first OR directives were issued by the EU several months ahead of the UK, the latter has taken the lead when it comes to enforcement, issuing a nearly $60 million fine related to a resiliency incident at a UK bank in late 2022.

article thumbnail

Black Swans and Swiss Cheese – A Boat Crash in Baltimore

Plan B Consulting

Traditional risk management focuses on identifying and mitigating risks that can be predicted based on historical data and past experiences. The only mitigation was that the incident occurred in the middle of the night rather than at peak rush hour, so the casualty count was much less than it could have been.

Banking 52