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In the ever-evolving landscape of financial risk management, the ability to accurately assess and manage risk is paramount. This episode of the Risk Intel Podcast, hosted by Ed Vincent sheds light on the transformative power of risk maturity self-assessments in building robust enterprise risk management programs. Joined by Niki White, Chief Growth Officer at SRA Watchtower, the discussion delves into the nuances of self-guided risk maturity frameworks and how they can help financial institutions achieve internal buy-in for their risk programs. Listen to learn more.
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In this episode of the Risk Intel Podcast, host Ed Vincent invites Shawn Ryan back to the show to dive deeper into the recent Interagency Third-Party Risk Management (TPRM) Guidance released in May 2024. The guidance from the Federal Reserve, FDIC, and the OCC included five critical aspects of third-party risk management: planning, due diligence, contract negotiation, ongoing monitoring, and termination. In Part 1 of this series, Shawn discussed in detail the Planning and Termination stages of third-party engagement. In this episode, Shawn covers the critical aspects of due diligence, contracting, and monitoring that financial institutions must navigate, especially when dealing with FinTech and RegTech firms.
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In this episode of the Risk Intel Podcast, host Ed Vincent, sat down with Shawn Ryan, Chief Financial Officer at SRA Watchtower, to delve into the intricacies of third-party risk management relating to safely onboarding FinTech partners. Their discussion centered on the recent May 2024 joint interagency guidance on third-party risk management and its implications for community banks. This episode is a must-listen for financial institutions navigating the complex landscape of risk and innovation.
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In this insightful episode, Ed Vincent, CEO at SRA Watchtower continues the conversation with Niki White, Chief Growth Officer at SRA Watchtower. Building on their previous discussion, they delve into how a robust risk culture can be quantified to enhance institutional efficiency, strategic alignment, and shareholder value. Listen to learn more.
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In this Risk Intel Podcast episode, host Ed Vincent and Niki White, Chief Growth Officer at SRA Watchtower and former Chief Risk Officer, delved into the intricacies of establishing and cultivating a culture of risk within financial institutions. Their discussion highlighted key drivers that influence risk culture and offered valuable insights on transforming the perception and reality of risk leadership.
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In this episode of the Risk Intel Podcast, we invite Tyler Pihl, VP - Enterprise Risk at Service Credit Union back to the show to share best practices and guidance on crafting risk appetite statements. Tyler provides valuable insights on rewriting and maintaining risk appetite statements, integrating risk management into organizational culture, and shares concrete examples with our audience.
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In this episode of the Risk Intel Podcast, Tyler Pihl, VP of Enterprise Risk at Service Credit Union joins the show to share his journey and expertise on building a proactive risk culture. Tyler highlights the evolution of ERM at Service CU, the importance of communication and relationships, and the continuous effort required to maintain a robust risk management framework. Listen for valuable tips and advice on creating a risk culture.
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In the fast-paced world of FinTech, navigating regulatory landscapes requires a keen understanding of evolving standards and proactive collaboration. Listen as we explore insights from a recent Risk Intel episode featuring Phil Goldfeder, CEO of the American Fintech Council, and Ed Vincent, CEO of SRA Watchtower as they discuss regulations around third-party risk management and how the new Guide for Community Banks can be leveraged. Let's dive into three key themes: continuous adaptation, the importance of regulatory guidance and best practices, and the need for collaboration and communication.
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In the ever-evolving landscape of financial services, risk management stands as a critical pillar safeguarding the integrity and stability of institutions. Recently, the Risk Intel Podcast had the privilege of hosting Debbie Bianucci, the President and CEO of ProSight Financial Association, to delve into key risk management trends in banking. Debbie also unveiled the vision behind the merger of BAI and RMA, culminating in the formation of ProSight Financial Association.
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In the latest episode of the Risk Intel podcast by SRA Watchtower, CEO Edward Vincent and Chief Growth Officer Niki White delve into a crucial aspect of risk management within financial institutions: identifying and dismantling hidden factories. The episode offers actionable diagnostic questions across four key areas: reporting, operations & processes, personnel, and budgeting & planning. Let's explore these takeaways in detail.
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In this episode of the Risk Intel podcast, we bring back ERM experts Cathy Jackson, Beth Nilles, and Niki White to recap their previous examples of identifying hidden factories within their financial institutions. Each guest shared real-life examples to highlight the importance of mitigating risks associated with redundant processes and helped to quantify the potential costs of these hidden factories causing inefficiencies. Listen to learn more!
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In this episode of the Risk Intel Podcast, we continue the conversation of hidden factories and highlight real-world examples from subject matter experts in risk management, across the banking industry. Today’s guest is Cathy Jackson, Director of Implementations for Watchtower, who brings a unique perspective to the table, having experienced hidden factories, both within financial institutions and while assisting in the implementation of enterprise risk management software. Listen in to host Ed Vincent and Cathy Jackson’s conversation or read the summary below to learn more.
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In the latest episode of the Risk Intel podcast, Beth Nilles, Watchtower's Director of Implementations, sheds light on the pervasive issues of hidden factories within the banking industry. Through a candid discussion with host Ed Vincent, Beth shares her firsthand experiences and insights into the operational challenges faced by financial institutions, particularly in the realm of data management, data analysis, and the time it takes to compile reporting when relying on manual processes.
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In this Risk Intel Podcast, host Ed Vincent invites Niki White, Chief Growth Officer at SRA Watchtower to the show to share a real-world example from her past life as a Chief Risk Officer that epitomizes the challenges of hidden factories in risk management. Niki shares a funny story that revolves around one seemingly innocuous box in her office that doubled as a makeshift space heater stand. Little did she know, this unassuming box concealed a treasure trove of essential documentation pertaining to control certifications and attestations – the bank's SOX documentation from her predecessor!
While we’ll have to save how a space heater is an entirely different risk for another day, listen to learn about Niki’s “SOX in a Box” hidden factory story.
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Hidden factories are prevalent throughout all industries, banking is not exempt. These inefficiencies lurk beneath the surface, silently eroding productivity and increasing risk. In the latest episode of the Risk Intel Podcast, the focus is squarely on uncovering these elusive inefficiencies. Host and SRA Watchtower CEO Edward Vincent and guest Shawn Ryan, SRA Watchtower CFO and seasoned expert with over three decades of experience in the field delve into the critical importance of identifying and addressing hidden factories, particularly in the realm of risk management.
Miss the first two episodes in this series? Click below to catch-up.
What is a Hidden Factory?What Does a Hidden Factory Look Like Inside a Bank?Follow SRA to Learn More.
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In this Risk Intel podcast, host Edward Vincent welcomed back Shawn Ryan, Chief Financial Officer at Strategic Risk Associates (SRA) to continue the conversation of hidden factories and what a Hidden Factory could look like inside a bank? These covert inefficiencies, often overlooked, can significantly impede operational effectiveness and risk management efforts, necessitating proactive measures for identification and mitigation.
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In this episode of the Risk Intel Podcast, industry veteran Shawn Ryan joined host, Ed Vincent to share invaluable insights into what is a hidden factory and how these types of risks could be lurking within banking operations. With over 30 years of experience in financial institutions, Shawn sheds light on the concept of hidden factories and their implications for banks. Listen to learn about the key takeaways from this enlightening discussion.
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Effective risk management is paramount to the success of Financial Institutions. Beth Nilles, a leading expert at SRA, joined Ed Vincent on the Risk Intel Podcast to discuss the innovative strides being made in risk and control self-assessment (RCSA) implementations at Strategic Risk Associates. The conversation delved into the why and how behind the development of SRA's groundbreaking RCSA module designed to address common challenges and elevate risk management practices to new heights. Based on conversations with financial institutions around the country, Beth found there are four standouts to a successful RCSA module: simplifying complexity, engaging the first line, seamless integration, and implementation excellence. Listen to learn more about Watchtower's integrated RCSA module and how it can help your institution streamline the risk assessment process.
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In today's rapidly evolving financial landscape, effective risk management is paramount for the success and stability of banks. One crucial tool in this endeavor is a Risk and Control Self-Assessment (RCSA), which provides insights into operational risks and informs strategic decision-making. In this episode of the Risk Intel Podcast, Beth Nilles, Director of Implementation at SRA, shared valuable insights into how RCSA can enhance bank operations. Listen to explore how RCSA is shaping risk management practices in the banking industry.
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- Visa fler