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.
Federal Reserve Section 19 letters
The Federal Reserve Board indicates it issued four “Section 19" letters during the third quarter of 2019. The letters notified individuals who have pleaded guilty to or been found guilty of a crime involving dishonesty or breach of trust that they are legally prohibited under section 19 of the Federal Deposit Insurance Act and section 205 of the National Credit Union Act from becoming or continuing as an institution-affiliated party with respect to any federally-insured financial organization (and certain other organizations) without permission.
The letters were issued to former institution-affiliated parties of:
- American State Bank and Trust Company, Great Bend, Kansas (conviction for theft of property worth at least worth $1,500, but less than $24,999)
- Regions Bank, Boca Raton, Florida (entered into a pretrial diversion or similar program in connection with the resolution of an indictment that charged her in connection with an “organized scheme to defraud”)
- Alamerica Bancorp. Inc, Birmingham, Alabama (father and son who were convicted of conspiracy to commit wire fraud and of wire fraud)