With a Change in the Credit Cycle, a Rise in Special Assets Is Likely – Is Your Institution Prepared?
In early 2016, the then-Comptroller of the Currency, Thomas Curry, issued a strongly worded report. “In the area of credit risk, the warning lights are flashing yellow,” he wrote in the OCC’s Semi-Annual Risk Perspective. “We can’t wait until the warning lights turn red.” According to the OCC, 2016 marked the fourth straight year that […]
The OCC’s 2020 Supervision Plan Targets Emerging Risks Facing Financial Institutions
In its 2020 fiscal year bank supervision operating plan, the Office of the Comptroller of the Currency (OCC) identifies cybersecurity and operational resiliency, Bank Secrecy Act/anti-money laundering compliance management, commercial and retail credit underwriting practices, and commercial and retail credit oversight and control functions among its top supervisory priorities. In addition to these priorities, the OCC’s […]
SOX Control Awareness and Communication Is One Way Organizations Can Help Reduce Costs and Hours
Protiviti’s 2019 SOX survey shows that companies, with the help of technology, are finally beginning to make headway in the 15-year battle to rein in SOX compliance costs and rising control counts. A few weeks ago, we discussed some of the factors that contribute to the reduction in hours and costs, and we pointed to […]
Emerging Technology Companies: Don’t Forget to Manage Security in the Cloud
Data breaches only happen to other companies — that’s true right up until the minute your company, believing itself secure, gets hacked and finds that the personal data of millions of its customers has been exposed. A company’s reputation and competitive advantage — which may have taken decades to build — can be destroyed overnight. […]
Cyber Risk Quantification – Takeaways From the FAIR Conference
Protiviti was once again a sponsor of the 2019 FAIR Conference, hosted by the FAIR Institute, which took place on September 24-25 in National Harbor, MD. Protiviti cyber risk quantification experts Andrew Retrum and Vince Dasta were at the conference to meet with other FAIR experts and answer questions from attendees. For those who missed […]
Is Your Company Managing Data in the Cloud? Consider These Risks.
Cloud technology is becoming the infrastructure of the next generation of commerce. Enterprise spending on cloud-based infrastructure is expected to surpass in-house technology investments by 2022, by some estimates. For many organizations, a cloud strategy is a well-considered move that brings the promise of improved operational efficiency and lower costs — but it also poses […]
