Operational Risk

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces.

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces that should be addressed in a community bank's disaster recovery, business continuity, incident response, or pandemic plans.

In some cases, Operational Risk can also result from inadequate or failed procedures, systems, or polices due to employee error, system failure, fraud or criminal activity.

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Pandemic News

PPP small borrower window opens, other reforms effective next week

Feb 25, 2021 | NewsWatch Today Article
One of the Biden administration's Paycheck Protection Program reforms announced earlier this week started yesterday, with the rest set to be implemented next week.

FinCEN issues advisory on EIP fraud

Feb 25, 2021 | NewsWatch Today Article
The Financial Crimes Enforcement Network issued an advisory to alert financial institutions to fraud and other financial crimes related to Economic Impact Payments.

ICBA urges garnishment exemption for EIPs

Feb 24, 2021 | NewsWatch Today Article
ICBA and other groups urged Congress to include language in the next stimulus package exempting the third round of Economic Impact Payments from garnishment.