Thursday, July 02, 2020

The Key Cybersecurity Risks Related to COVID-19

Posted by Jasper June 2, 2020 11:23am
Sample Image Photo Credit: Titima Ongkantong /

During the current pandemic of COVID-19, professionals around the world are connecting remotely onto their organization’s networks. In the mind of a cybercriminal, now is the perfect opportunity to perform malicious attacks on organizations and their employees. To prepare your institution for the challenges that lie ahead, a few of the most popular cyber-attacks and risks are presented below along with the proper controls and procedures that can be put in place to mitigate such.

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Sample Image Photo Credit: shuttertakan /

On April 6, 2020, the FDIC released FIL 35-2020, introducing changes to the Community Bank Leverage Ratio (“CBLR”) in response to COVID-19. Starting in 2020, the CBLR will determine if a bank is considered well-capitalized by looking at the leverage ratio of the bank. If your bank is considered well-capitalized, it will be subjected to less regulatory reporting requirements in Schedule RC-R of the Call Report.

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SIEM System Protection for Your Financial Institution

Posted by OnCourse Staff May 17, 2019 2:27pm
Sample Image Photo Credit: everythingpossible ©

In today’s technology environment, financial institutions are consistently searching for ways to secure their network. However, many institutions do not take full advantage of monitoring tools that may enhance their security and safeguard their network. For these institutions, a Security Information and Event Management (“SIEM”) system may provide the additional protection needed.

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Planning in a Consolidating Banking Industry – Revisited

Posted by Joel March 19, 2019 6:25pm
Sample Image Photo Credit: Michael D Brown

In August 2015, a colleague of mine wrote an article titled “Planning in a Consolidating Banking Industry.” Now that it is 2019, I took a look at the article to determine whether his predictions, as shown below, are accurate and if there is a decline in banking organizations.

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Flood Coverage – Still a Hot Regulatory Issue

Posted by OnCourse Staff February 20, 2019 2:42pm
Sample Image Photo Credit: Galina Peshkova

Flood certifications, coverage, insurance, and placement – these are common in any financial institution’s compliance vocabulary nowadays. It’s no secret that all regulatory agencies have had “flood” as a hot topic for the past few review cycles. Financial institutions have been reinforcing their knowledge and awareness of the issue. Yet, even with all of the training that banks and credit unions have paid for and had their employees attend, why are financial institutions still receiving flood violations?

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Training – Investing in Your Employees

Posted by Phil January 30, 2019 3:12pm
Sample Image Photo Credit: Andriy Popov/123RF

Training provides employees with a sense of accomplishment, allowing them to expand their knowledge and increase productivity. While there may be certain drawbacks to training, such as process management and monitoring, the benefits of training for individuals and organizations make the cost and time a worthwhile investment.

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Interagency Statement on Sharing BSA Resources and Challenges

Posted by OnCourse Staff December 7, 2018 7:34pm
Sample Image Photo Credit: semisatch

On October 3, 2018, an Interagency Statement was issued by five agencies/regulatory bodies to provide banks with an option to enter into a collaborative arrangement involving two or more banks to share their available resources in order to ensure compliance with Bank Secrecy Act/Anti-Money Laundering (“BSA/AML”) requirements...

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OnCourse is a blog dedicated to providing an informative and fresh look at matters that affect the banking and financial industry including the direction of risk, compliance matters, audit, and more.

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