How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.
Texas bank ordered to improve BSA/AML program
The Federal Reserve Board has issued a Cease and Desist Order to the United Bank of El Paso del Norte, El Paso, Texas. A recent examination of the bank conducted by the Federal Reserve Bank of Dallas and the Texas Department of Banking identified significant deficiencies in the bank’s risk management and compliance with applicable laws, rules, and regulations relating to anti-money laundering compliance, including the Bank Secrecy Act.