https://www.abs-core.com/wp-content/uploads/2016/10/Helping-one-on-one-e1661222635232.jpg 533 800 Advanced Business Solutions https://www.abs-core.com/wp-content/uploads/2016/10/ABS-Logo-Spelled-Out.jpg Advanced Business Solutions2019-05-21 09:00:042022-03-11 10:35:04Top Concerns
I had the pleasure of attending OCC training for board members this past week. Good training and great time to hear what bankers are challenged by.
The top operational risk management concerns cited by exam area in 2018:
- Commercial Credit
- Information Technology
- Enterprise Governance and Operations
- Consumer Compliance
- Capital Markets
- Retail Credit
- Asset Management
In visiting with the regulators a few other items came up:
- Weak strategic plans
- Board involvement
In visiting with board members and bank executives some common themes came up:
- Finding and keeping quality staff was a challenge for some institutions but many stated that once they were clear on their focus and strategic plan and shared that with staff and partners (vendors), the staff were reengaged and quality candidates were brought to them.
- Efficient and effective strategic planning. The financial institutions that didn’t struggle with this utilized a third party to facilitate, guide and follow up.
Hope this information helps in some way and remember ABS is your partner for all of these areas. Our goal is to make your life easier! Don’t hesitate to reach out and let’s see how we can help make your life better!