How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Citibank fined $30 million for OREO violations
The OCC announced on Friday a $30 million civil money penalty against Citibank, N.A., Sioux Falls, South Dakota, for violations related to the holding period for other real estate owned (OREO). Although the bank has repeatedly committed to implementing corrective actions, it has failed to do so, and violations have continued to occur.
For additional information, see "Citibank pays $30 million for OREO violations," in BankersOnline's Penalty pages.