Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

Operational Risks: Cyber, Fraud Risk Innovation & More


Listen Later

www.marktreichel.com

https://www.linkedin.com/in/mark-treichel/



## Episode Overview
This episode covers the OCC's Fall 2024 Operational Risk report, examining key areas of focus for financial institutions including cybersecurity, operational resilience, innovation, and fraud risk management.

## Key Topics Covered

### Cybersecurity
- Elevated operational risks due to evolving cyber threats and AI technology
- Importance of third-party risk management in the expanding cyber threat landscape
- Critical security measures including MFA, system hardening, and patch management
- New post-quantum computing encryption standards from NIST

### Operational Resilience
- Focus on mitigating disruption events and cyber incidents
- Case study from mid-2024 involving global disruptions from flawed software updates
- Importance of testing and validating resilience plans

### Innovation and New Services
- Banks' adoption of new technologies and fintech partnerships
- Cautious approach to AI and machine learning implementation
- Considerations for digital asset custody and cryptocurrency services
- Challenges of maintaining legacy systems while pursuing digitization

### Fraud Risk Management
- Evolution of fraud prevention strategies
- Importance of customer identification and verification
- Implementation of transaction verification and authentication controls
- Role of technology in flagging suspicious activity

### Third-Party Risk Management
- Continuous lifecycle approach to third-party relationships
- Risk management processes scaled to bank size and complexity
- Importance of ongoing monitoring as relationships evolve

## Resources Mentioned
- Credit Union Exam Solutions Incorporated
- Mark Treichel's Website: marktreichel.com
- "With Flying Colors" Podcast

## Contact Information
- LinkedIn: Mark Treichel
- Website: marktreichel.com

## Disclaimer
This podcast is educational and does not constitute legal advice. All opinions expressed are for informational purposes only.


Are you worried about an NCUA exam in process or looming on the horizon? Don't face it alone!

We're ex-NCUA insiders with decades of experience, ready to guide you to success. Our team understands the intricacies of NCUA examinations from the inside out.

Hire us and gain:

• Peace of mind during your exam process

• Insider knowledge of NCUA procedures and expectations

• Strategies to address potential issues before they become problems

• Continuous access to our extensive subject matter expertise

With our access retainer, you'll have on-demand support from former NCUA experts. We're here to ensure your credit union achieves flying colors in its next examination.

Contact Credit Union Exam Solutions today to learn more about our services and how we can help your credit union succeed.

View all episodesView all episodes
Download on the App Store

Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIECBy Credit Union Exam Solutions Inc.


More shows like Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

View all
Marketplace by Marketplace

Marketplace

8,551 Listeners

Planet Money by NPR

Planet Money

30,850 Listeners

Marketplace All-in-One by Marketplace

Marketplace All-in-One

1,347 Listeners

Bloomberg Surveillance by Bloomberg

Bloomberg Surveillance

1,202 Listeners

Freakonomics Radio by Freakonomics Radio + Stitcher

Freakonomics Radio

32,219 Listeners

Goldman Sachs Exchanges by Goldman Sachs

Goldman Sachs Exchanges

991 Listeners

The Credit Union Leadership Podcast by ServiStar Consulting

The Credit Union Leadership Podcast

11 Listeners

Up First from NPR by NPR

Up First from NPR

56,136 Listeners

Bold Names by The Wall Street Journal

Bold Names

1,426 Listeners

The Journal. by The Wall Street Journal & Gimlet

The Journal.

5,903 Listeners

At Any Rate by J.P. Morgan Global Research

At Any Rate

69 Listeners

SmartLess by Jason Bateman, Sean Hayes, Will Arnett

SmartLess

57,445 Listeners

Forward Guidance by Blockworks

Forward Guidance

276 Listeners

Credit Union Exam Solutions Presents With Flying Colors by Mark Treichel's Credit Union Exam Solutions

Credit Union Exam Solutions Presents With Flying Colors

14 Listeners

Grow Your Credit Union by Becky Reed and Joshua Barclay

Grow Your Credit Union

5 Listeners