AI in Financial Services: Balancing Innovation, Third-Party Risk Management, and Regulatory Scrutiny

AI in Financial Services: Balancing Innovation, Third-Party Risk Management, and Regulatory Scrutiny

The integration of artificial intelligence (AI) in the financial services sector presents both transformative opportunities and significant challenges. As financial institutions increasingly evaluate AI technologies, it is crucial to ensure these innovations comply...
Navigating Cyber Insurance: Are You Really Covered? Critical Lessons Learned

Navigating Cyber Insurance: Are You Really Covered? Critical Lessons Learned

In the evolving state of cybersecurity, financial institutions grapple with the challenge of safeguarding their digital and financial assets against cyber threats. Cyber insurance has emerged as a critical component of risk management strategies. However, the...
Partnering for Peace of Mind and Effective Oversight

Partnering for Peace of Mind and Effective Oversight

Pendleton Community Bank, a $700 Million Dollar Bank with 133 Employees in Franklin, WV, led by CEO Bill Loving, faced a critical challenge when their Information Security Officer departed, leaving a significant void in their oversight capabilities. Their goal was...
What Auditors and Examiners Expect You to Have Implemented For the Updated FFIEC Authentication Guidance

What Auditors and Examiners Expect You to Have Implemented For the Updated FFIEC Authentication Guidance

The Federal Financial Institutions Examination Council (FFIEC) updated its Authentication Guidance in August 2021, which aims to standardize and enhance security measures for financial institutions. We are seeing a focus on these areas during exams and audits, and...
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