Risk & Compliance Roundup: Risk Assessments, Fair Lending Exams
- April 5, 2024
- Quantivate
Welcome to your weekly roundup of risk and compliance management resources, brought to you by Ncontracts.
This edition covers topics including:
New This Week from the Nsight Blog
Essential Risk Assessments for Financial Institutions
Effective risk assessments give banks and credit unions the insights they need to understand risk exposure and make strategic decisions.
Explore nine types of assessments your institution needs to be successful, spanning risk categories such as:
- Third-party risk
- BSA/AMAL/OFAC
- Information security
- Fair lending
- New products or services
Plus, get a brief overview of how an integrated risk management (IRM) framework can help your team take a holistic and flexible approach to addressing risk and regulatory change.
Related Reading | Integrated Risk Management 101: What and Why? →
Credit Union Examiners to CEOs: Fair Lending Exams Are Coming!
Credit unions aren’t immune to fair lending compliance violations, as a recent class-action lawsuit against Navy Federal Credit Union demonstrates. This mortgage discrimination case should “rattle every credit union executive” as the NCUA ramps up its focus on consumer protection. However, credit unions can preempt increased regulatory scrutiny by taking a closer look at their fair lending data, and we’ve compiled more than a dozen questions to help CEOs and other leaders evaluate their loan portfolios and practices.
April Webinar
Decoding Risk: ERM, IRM, GRC, and Everything in Between
Puzzled by risk management acronyms like ERM, IRM, and GRC? Join us later this month to cut through the jargon, explore differences between risk management frameworks, and get tips on elevating your program.