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Risk Management Resolutions for 2013: Compliance Risk Seem to Be Main Concerns

Strategic risk is more connected to compliance risk, which is complex and “Fair lending” requirements seem to impact most products offered by banks.  Reputational risks are increasingly linked to operational missteps and compliance violations, civil money penalties and fines. Thanks to social media, pervasive content sharing and strong opinions are the new norm.  Smartphones, real-time news feeds and geo-located review sites enable stakeholders to publish content that can put entire organizations – or individual employees – in the hot seat.   Compliance violations are headline news and penalties can impact earnings.

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