James Courtney’s Post

The OCC's FY 2025 Bank Supervision Operating Plan places a spotlight on IT governance, highlighting its critical importance for banking institutions. I’ve just published an article that dives into what this means for banks and how to prepare your IT operations for these heightened expectations. If you’re in banking, this is a must-read! Feel free to reach out if you have questions or need some guidance! #ITGovernance #OCC #BankingCompliance #Cybersecurity #RiskManagement https://lnkd.in/gQqq7KvD

Get Banking Risk and Regulation’s insights on cryptographic agility and risk exposure in the age of quantum: https://hubs.ly/Q02TNPZ90

US regulator privately finds weak risk-management at half of large banks, Bloomberg reports. A top U.S. bank regulator's confidential assessments found 11 of the 22 large banks it supervises have "insufficient" or "weak" management of a broad swath of risks ranging from cyberattacks to employee blunders, Bloomberg News reported on Sunday. About one-third of the banks secured ratings of 3 or below on a 5-point scale for their overall management of risk in confidential assessments by the Office of the Comptroller of the Currency, the report said. https://lnkd.in/eYV6Vcmx #Banking #DORA #SEC #OCC #FinancialServices #TPRA #PCIDSS #cyberattacks #cyberrisk #cybersecurity

With check fraud up nearly 400%, businesses and banks must act swiftly to fortify their defenses. Despite advances in digital fraud detection, vulnerabilities in physical security are still being exploited. It's crucial to remain vigilant against both old and new threats to maintain trust. Let's prioritize stringent security measures to protect our financial ecosystems.

MAS will build on this progress by continuing to work with banks to further strengthen anti-scam controls. https://lnkd.in/gHzQ8xUe

Following the recent CrowdStrike software update issue, banks are increasingly exposed to evolving threats and may not be fully prepared for these broad operational risks, as highlighted by the OCC's CAMELS rating system (Capital, Assets, Management, Earnings, Liquidity, and Market Risk). While requiring banks to hold additional capital against such threats could present challenges, it might be a necessary step to maintain public confidence in the federal banking system. #Crowdstrike #OperationalRisk #RiskManagement

In our latest article, we explore the different types of bank frauds that SMEs should be vigilant about. Gain valuable insights by reading it here: https://lnkd.in/dCjdf_ux

Janet Yellen’s recent comments underscore the urgent need for stronger fraud defences in banking. As fraud tactics evolve, we must innovate and enhance counter-fraud frameworks to protect our customers and the industry. #CyberSecurity #FraudPrevention #Banking

Banks must get serious about measuring and mitigating AI-related risk.