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Viewing Category: Regulatory Compliance

Casting the Net for Third Party Risk

Published on July 26, 2016 By | Posted in: Agreed Upon Procedures (AUP), Blog, Program Tools, Regulatory Compliance, Risk Management, Shared Assessments, Third Party Risk, Third Party Risk Management

The summer of 2016 has been one of media challenges, and breaking records for heat waves across many states. Slow moving boats, relaxing fishing in normal idyllic mid-summer breaks have been swept aside by a flurry of activity within the sea of third party risk. This past week in Boston, the Shared Assessments Program Steering […]

Heightened Expectations Raise the Bar for All

Published on December 12, 2014 By | Posted in: Compliance, Cybersecurity, Guidance, OCC, Regulatory Compliance, Risk, Risk Management

The Office of the Comptroller of the Currency (OCC) published final guidelines that establish minimum standards for risk governance frameworks for OCC regulated institutions with over $50 billion in assets. While that asset threshold would seem to specifically exclude most community banks, the OCC has reserved the right to apply the guidelines to other organizations […]

How to Respond to the Regulation Avalanche

Published on September 8, 2014 By | Posted in: Compliance, Regulations, Regulatory Compliance, Risk

As follow up to my previous blog on how the avalanche of regulation can stifle innovation in banks and credit unions, I wanted to share some ideas to start the discussion on organizational steps that you can take to enhance the risk and compliance culture. Maturing the processes internally, requires education – and while that […]

A New Ice Bucket Challenge for FIs

Published on August 26, 2014 By | Posted in: Compliance, Dodd-Frank, Regulations, Regulatory Compliance

While last week my news feeds on social media showed an avalanche of humorous ice bucket challenges, it sparked a comparison to me of the recent Avalanche of Regulation Infographic published by the American Bankers Association (ABA). The burden of regulatory compliance is dousing the fires of creativity and customer loyalty in banking. How Regulations […]

OCC Releases Guidance on Third Party Relationships (OCC 2013-29)

Published on October 31, 2013 By | Posted in: Regulations, Regulatory Compliance, Third Party Risk, Vendor Oversight, Vendor Security

Yesterday the OCC released its long awaited Guidance on Third-Party Relationships (OCC 2013-29). Notably, this Guidance, posted below, rescinds OCC Bulletin 2001-47, “Third-Party Relationships: Risk Management Principles,” and OCC Advisory Letter 2000-9, “Third-Party Risk.” The Guidance introduces the OCC’s interpretation of an acceptable  “Risk Management Life Cycle” for third-party relationships that reinforces the responsibility of […]

It’s Game Time – Be Your Own Compliance Umpire

Published on October 7, 2013 By | Posted in: Regulatory Compliance

Managing your suite of regulatory compliance programs today requires a game day strategy to keep all the moving parts working together to achieve the end goal of meeting the external regulators expectations. While financial institutions can prepare for examination reviews by assessing published guidance; the hard part is applying the guidance to your own internal […]

Regulatory Compliance – How Can it be Used to Your Advantage?

Published on September 16, 2013 By | Posted in: Regulatory Compliance

Compliance regulations are increasingly dictating the choices that businesses are making regarding revenue generation strategies across all sectors. As a result, strategies that focus on revenue streams are being directly impacted by the cumbersome technicalities of meeting the legal and privacy requirements of today’s compliance regulations. The Health Insurance Portability & Accountability Act of 1996 […]

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