Too often, banks – and their employees – think of traditional risk management teams as the heart of your organization’s defense. After all, aren’t they the ones responsible for making sure you follow the rules, mitigate risks and fix things when they go wrong (especially when it’s a big regulatory issue)?
If that’s your mindset, you’re shortchanging your bank by pigeonholing risk management into one area – when ideally every single employee should play an active role. In fact, establishing an enterprise culture that embraces risk management creates a competitive edge for your bank.
In a recent American Bankers Association podcast, I spoke with Ryan Rasske, the ABA’s senior vice president for Risk and Compliance Markets, about how to position your bank for success in the current risk landscape.
We covered three key topics during our 10-minute conversation:
It’s never been more important to have a robust framework for how your bank manages risk, whether in pursuing a new business opportunity or ensuring regulatory compliance. Listen now for essential insights on what to consider and why a risk-aware culture matters.
The Big Picture We remember spending hours (if not days) each month in mind-numbing tedium as junior analysts, producing regular reporting for our business lines. The recurring exercise had us piecing together data from various sources, manually updating Excel files and praying fervently that none of the associated formulas got corrupted along the way. Excel would generate new graphs, which we transferred over to PowerPoint, and, more often than not, further manipulation would be required to fit them into the approved templates to avoid formatting glitches. Copy-Paste was both our dearest friend and greatest foe.
Data & Analytics, Compliance 2 minute read
The Big Picture How good are you at listening? I mean really listening? I thought I was good listener. After all, on top of my well-intended impatience and confidence, I was sure I already had the answers and didn’t need to listen any closer. I was nodding, smiling and solving the problem I perceived to be at hand.
Data & Analytics, Change Management, Compliance 2 minute read
The Big Picture Whether we’re talking about a policy or the processes your bank has put in place to support its intent, the connection between the two often erodes over time.
Data & Analytics, Risk Management & Regulatory Compliance, Change Management 1 minute read
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