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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Operational Risk News

Treasury studying insurance sector climate risks

Sep 1, 2021 | NewsWatch Today
The Treasury Department said the Federal Insurance Office is requesting public comment on the insurance sector and climate-related financial risks.

Financial Times: Community banks ‘irreplaceable’ during pandemic

Aug 31, 2021 | NewsWatch Today
A new Financial Times article (paywall) reports on how community banks have been “irreplaceable” during the pandemic, including by leading the Paycheck Protection Program response.

Agencies issue statement on Hurricane Ida

Aug 31, 2021 | NewsWatch Today
Federal and state regulators said they will provide appropriate regulatory assistance to institutions affected by Hurricane Ida.