On April 15-17, 360factors attended the TBA Convention at the JWMarriott in Austin, TX.  As new members of the TBA, we enjoyed meeting with fellow members and Texas bankers.  During the event, we heard from many interesting speakers, including bankers TBA Chairman — John Snider , TBA Chairman of the Board—Ken Burgess, and American Bankers Association Chairman-Elect — John Ikard.

Additionally, we had the opportunity to attend two sessions that specifically addressed Governance, Risk, and Compliance.  The first session was focused on what bankers need to know regarding the bank regulatory examination process.  The session was delivered by a law firm that specializes in regulatory legal and compliance at banking institutions.  There were several specific areas they addressed, however, they emphasized two general themes — documentation and being proactive.  They provided multiple examples as to when a bank (or client) was cited by a regulatory agency due to the lack of documentation regarding decisions, processes, and exceptions that were made by the bank.  In addition, they referenced the need to manage cybersecurity and maintain business continuity plans, as these are heightened areas of focus for regulatory examiners.

The second session was conducted by a former CIA and NSA officer, who addressed cyber threats and security.  He addressed the need for proper controls regarding cyber security, including when working with third parties.

As a former compliance officer, the reminder of documentation when referring to regulatory examinations and findings re-emphasizes the need for a banking and financial services institutions, whether small or large, to have an adequate and efficient way to track, maintain, and audit the decisions made throughout the organization.  360factors GRC solution “Predict360” provides the proactive solution to ease the regulatory examiners and compliance officers minds when it comes to providing clear documentation via a centralized database.  Additionally, Predict360 provides Regulatory Change Management — providing integration with regulatory agencies to highlight changes utilizing cognitive  technologies and mapping them to bank policies to ensure compliance, Audit Management—providing a centralized location to manage and review current and past examinations and audits, Case Management — providing the ability for the bank to manage marketing materials, BSA/AML processes — including the process of filing SARs and CTRs, as well as managing third party vendor relationships and thus easing concerns of cybersecurity controls, Compliance Management — including complaint management and hotline reporting, Risk Management—providing risk heat maps, dashboards, and maintaining and highlighting risk data, and  Learning Management—providing a large selection of banking institution specific courses addressing all topics within the banking and banking compliance sector.

At 360factors, we pride ourselves on providing exceptional compliance and risk tools, allowing us to proactively assist your institution to avoid regulatory fines and remain compliant in the constantly changing regulatory landscape.