Operational Risk

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces.

Operational Risk includes risks such as cyber, data and physical security, natural disasters, pandemics or other internal and external forces that should be addressed in a community bank's disaster recovery, business continuity, incident response, or pandemic plans.

In some cases, Operational Risk can also result from inadequate or failed procedures, systems, or polices due to employee error, system failure, fraud or criminal activity.

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Pandemic News

FS-ISAC Coronavirus Update, Feb. 1, 2021

Feb 1, 2021 | Coronavirus Update
Amid a sometimes chaotic rollout of vaccines across the US, health experts say a glimmer of good news has emerged, with recent reports of cases in nursing homes having declined for the past four weeks, according to federal data.

SBA updates PPP FAQs with BSA/AML guidance

Feb 1, 2021 | NewsWatch Today Article
The SBA updated its frequently asked questions on the Paycheck Protection Program with guidance on the Financial Crimes Enforcement Network and BSA/AML compliance.

IRS concluding stimulus payments

Feb 1, 2021 | NewsWatch Today Article
The IRS on Friday reissued 1.2 million Economic Impact Payments through the ACH network with an effective date of this Wednesday, Feb. 3. Another 2.3 million reissued EIP2 checks are scheduled to be printed and mailed by Friday, Feb. 5.