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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.

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OCC Fall 2018 Semiannual Risk Perspective

The OCC has issued its Fall 2018 Semiannual Risk Perspective. The report highlights include:

  • Credit quality remains strong, but the OCC is monitoring the origination quality of new loans, the potential for increased lender complacency within credit risk identification and management, and the potential embedded risks from successive years of eased underwriting.
  • Operational risk is elevated as banks respond to an evolving and increasingly complex operating environment.
  • Compliance risk is elevated as banks manage money laundering risks and comply with amended consumer protection requirements.
  • Rising interest rates and increased competition for deposits may result in changes in funding mix or costs.

The report presents information in five main areas: the operating environment, bank performance, special topics in emerging risk, trends in key risks, and supervisory actions. It focuses on issues that pose threats to those financial institutions regulated by the OCC and is intended as a resource to the industry, examiners, and the public.


Regulators encourage innovation for BSA/AML compliance

The Federal Reserve Board, FDIC, FinCEN, NCUA, and OCC have issued a joint statement to encourage banks and credit unions to consider, evaluate, and, where appropriate, responsibly implement innovative approaches to meet their Bank Secrecy Act/anti-money laundering (BSA/AML) compliance obligations. The joint statement does not alter existing BSA/AML legal or regulatory requirements, nor does it establish new supervisory expectations. The Agencies will not advocate a particular method or technology for banks to comply with BSA/AML requirements. Banks that maintain BSA/AML compliance programs commensurate with their risk profiles, but choose not to pursue innovative approaches will not be penalized or criticized by the Agencies issuing the statement.


FCC close to establishing database of reassigned numbers

The Federal Communications Commission has released a draft order and fact sheet that would create a database of reassigned telephone numbers -- those that have been relinquished by one party and reassigned to another -- and is expected to approve the order at its December 12 meeting. The database would allow any called to verify whether a number has been reassigned before calling that number.


McWilliams discusses financial services trends

In remarks delivered at the Office of Financial Research and the University of Michigan’s Center on Finance, Law, and Policy Fourth Annual Financial Stability Conference in Washington, D.C., FDIC Chairman McWilliams discussed the following trends affecting financial services and how regulators should respond to those trends:

  • The evolving role of banks in the financial system
  • Migration in mortgage activity from banks to nonbanks
  • Implications of migration for banks and regulators


U.S. Faster Payments Council formed

A group of payments industry leaders has announced the formation of a newly incorporated organization, the U.S. Faster Payments Council (FPC), to work toward the goal of a ubiquitous, world-class payment system that allows Americans to safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. The FPC will be focused on private-sector approaches to solving problems and addressing issues that inhibit adoption of faster payments. Through dialogue, collaboration and education, the FPC will channel its resources toward the most pressing challenges and opportunities.


FFIEC statement on OFAC cyber sanctions

The members of the Federal Financial Institutions Examination Council (FFIEC) have issued a joint statement alerting financial institutions to recent actions taken by the Department of Treasury’s Office of Foreign Asset Control (OFAC) under their Cyber-Related Sanctions Program and to the potential impact it may have on financial institutions’ risk-management programs. The statement describes the issues a financial institution should consider regarding the effect of sanctions on the operations of the financial institution and the implications of the continued use of products or services provided by a sanctioned entity, some of which claim they are U.S. based and offer services to U.S. financial institutions.


FDIC cybersecurity preparedness resource posted

FIL-63-2018, issued Friday, announced additions to the FDIC's cybersecurity awareness resources for financial institutions. There are two new vignettes for the Cyber Challenge.

Cyber Challenge facilitates discussion between financial institution management and staff about operational risk issues. Its exercises are designed to provide valuable information about an institution's current state of preparedness and identify opportunities to strengthen resilience to operational risk. Cyber Challenge is not a regulatory requirement; rather, it is an optional resource that may assist financial institutions in strengthening their resilience to operational risk.


Fed study on U.S. payments fraud

The Federal Reserve Board has released the results of a study on changes in U.S. payments fraud from 2012 to 2016. The study found that, by value and number, fraud across core noncash payments was generally growing faster than non-fraudulent payments from 2012 to 2015, but payments fraud remains rare and represents only a fraction of one percent of the total value or number of payments during that period.


FedPayments group progress report

The Federal Reserve System's FedPayments Improvement team ( has released its Fall 2018 Progress Report. The group was formed to facilitate the gathering of stakeholders in pursuit of a better payment system for the future. Hundreds of organizations and individuals have collaborated on achieving the five desired outcomes: speed, security, efficiency, international payments, and collaboration. Goals for the organization include widespread deployment of "real-time" payments systems by 2020.


OCC to host Innovation Office Hours in Dallas

The OCC Office of Innovation has announced it will hold Innovation Office Hours November 14–15, 2018, in Dallas, Texas, to promote responsible innovation in the federal banking system. Office Hours are one-on-one meetings with the OCC’s Office of Innovation staff to discuss financial technology (fintech), new products or services, partnering with a bank or a fintech company, or other matters related to responsible innovation in the federal banking system.


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