-
OTS Using New IT Examination Questionnaire
I’m not sure if this is being used across the board for all OTS exams, or just regionally, but the new pre-examination form (officially called PERK, or Preliminary Examination Response Kit) is significantly more comprehensive…
-
Looking back – 2010 compliance hits & misses
Every year about this time, I’m asked to look ahead to the upcoming year and prognosticate on regulatory compliance trends. I intend to do just that in a future post, but today I wanted to do something very few other prognosticators do…look back at last years’ predictions and see which ones hit and which missed…
-
The IT Steering Committee – Should or Must?
At a recent user group meeting of one of the major core vendors for community banks, I asked the question ‘how many of you use an IT or Tech Steering Committee?’. I was expecting a vast majority of hands to go up, but only about half did. This was surprising to me, given that: The…
-
5 Key Elements of Risk Management
As a financial institution, it sometimes seems that everything you do requires a risk assessment. Information security, disaster recovery, ID theft, remote deposit capture, outsourcing, in fact the term “risk assessment” appears 215 times in the FFIEC IT Examination Handbooks. But a risk assessment is only one step of a five step risk management process…and…
-
Thankful for…Appendix A?!
When you were a kid, you hated the “pop quiz” right? But if the teacher allowed you to use your notes and textbooks, you felt like you at least had a fighting chance. I’ve taken both proctored and “open book” certification exams, and I’ve always felt that open-book exams more accurately reflected how most of…
-
Dodd-Frank and regulatory compliance
In an excellent article by Lori Moore of ATTUS Technologies, she states that there are multiple reasons why bank examiners may be ramping up scrutiny: “Examiners who may already be on the defensive in regard to criticism about their actions prior to the fall 2008. Examiners who now have the Dodd-Frank Act on their side,…
