Last week, the OCC (Office of the Comptroller of the Currency), the Board of Governors of the Federal Reserve System, and the FDIC (Federal Deposit Insurance Corporation) collectively issued guidance for community banks on Third-Party Risk Management. The guide, coming in at around 30 pages, aims to help community banks develop and implement effective third-party risk management practices and important considerations for each state of the third-party risk management life cycle. We’ve developed a training […]
Tag: Community Banking
Transforming Compliance from Cost to Investment: A Guide for Community Banks
In the close-knit communities where they operate, community banks are more than financial institutions; they are pillars of local economies, supporting everything from small businesses to individual savers. Yet, one of the most significant challenges these banks face is the ever-tightening web of regulatory compliance. Seen by many as a burdensome cost, compliance is often viewed through the lens of obligation rather than opportunity. However, this perspective overlooks the strategic value that robust compliance can […]