In September 2022, Cross River Bank entered into a consent order with the FDIC due to concerns about unsafe and unsound fair lending compliance practices. The order required three immediate changes: Strengthening of lending and third-party compliance controls, compliance with credit product and third-party disclosure processes, including seeking FDIC approval for new credit products or
Category: Risk Management Consulting
In today’s fast-paced global economy, risk management is a top priority for executive leaders. To ensure business continuity, safeguard valuable assets, and maintain customer satisfaction, a robust risk management strategy is essential. Addressing Business Risks While companies work diligently to protect their XXXX, certain scenarios remain uncontrollable. Creating a risk management plan allows organizations to
Governance, risk and compliance (GRC) are three disciplines that can help ensure that a company meets its objectives. This structured approach aims to align IT with business objectives. It can also help businesses better manage risks and meet specific compliance requirements. When a governance, risk and compliance strategy is well-planned and effectively implemented, GRC can
Governance, risk, and compliance, or GRC for short, refers to a business’ strategy for managing a broad range of issues relating to corporate governance, enterprise risk management, and corporate compliance. What is governance, risk, and compliance designed to do exactly? These three pillars help companies better understand stakeholder expectations, set and achieve objectives to optimize
Despite a particularly difficult year, there are still many “Grinches” out there seeking to cause harm in the form of cybercrime. At Hartman, we’re seeing a rise in phishing attacks of all kinds across all industries and types of organizations. Cyber criminals know that people are distracted and multitasking during the holiday season, and they
Small businesses have become the target of an increasing number of cyberattacks. According to the U.S. Congressional Small Business Committee, 71 percent of all cybercrime impacted businesses with less than 100 employees. While larger businesses generally have more personal data to steal, smaller businesses often have less secure networks that make them easier to breach.
Register today for our October 15th virtual panel on the topic of integrated cybersecurity solutions for the middle market. Find out why an integrated cybersecurity solution must be at the top of every CEO’s priority list. Topics of Discussion: Identifying vulnerabilities Developing a program to protect against cyberattacks Creating effective and appropriate policies for employees
In a digital age where cyberattacks are rampant, performing regular cybersecurity risk assessments should be a critical part of every company’s procedures. A cybersecurity risk assessment is used to determine the likelihood of an attack against a business and the potential impact a cyberattack could have on a company’s reputation, finances and overall business health.
Hear from Wade Barnes, Financial Services Practice Lead on security assessments for financial service institutions and why they are so critical right now. Video Transcribed Hi, I’m Wade Barnes, Financial Services Practice Lead at Hartman Advisors. The dash to mobilize remote workforces was an incredible feat for IT departments across the world. While we all
The purpose of an incident response plan is to prepare organizations for a possible security incident that could occur without notice. Having a strategic plan in place to address cybersecurity problems is crucial to preventing the financial and reputational consequences that can follow a breach of privacy incident. There are six main phases involved in