A Note from the Internal Auditor…

As part of my continuing education, I recently attended a seminar hosted by the Institute of Internal Auditors. The seminar was titled Fraud and the Internal Auditor’s Role, and was presented by Lynn Fountain. Below is a list of talking points that were discussed in the seminar that banks may want to consider: Fraud continues to be on the radar of investors, shareholders, and regulators Ongoing technological advances in IT infrastructure and new and emerging […]

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Keeping up with the Name Game

The 2013 UCC Article 9 Amendments set out to clear up a few issues with the 2001 Revision. One change cleared up what name to use for the debtor.  We now know to use the name on their unexpired driver’s license.  Did you know if that name changes your financing statement could be seriously impacted especially if secured by “after-acquired” property (e.g. inventory and accounts receivable)? If the borrower’s name changes on their driver’s license, […]

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Keep the Encryption Keys to Your Kingdom Strong

We use encryption for communication privacy and to ensure data integrity (in transit and at rest). Encryption is, basically, using an algorithm to transform clear text into cipher text and cipher text to clear text. The strength of the encryption technology has evolved over time from simple to more complex algorithms. Keep in mind that encryption cannot protect your data forever. You need to stay current on new found threats and alerts related to encryption […]

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Special Mention Rating

Many bankers have a misconception that the Special Mention rating category is a transition rating to be used as a loan migrates from a Watch rating to a Substandard rating. The Special Mention rating category is used to identify credits that have potential weaknesses that if left uncorrected could result in deterioration of the credit. Bank management, and not the borrower, is typically required to take corrective action to remedy weaknesses identified in the underwriting, […]

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Email Marketing Checklist

More and more ways we are contacting our customer base today is thru email marketing so I thought I would give you some bullet points to ponder when working on your email marketing campaigns. Since email addresses can change frequently, keep your list current by carefully tracking the number of bounce-backs or undeliverable emails after every campaign. Respect the terms of your privacy policy and never breach your customers’ trust. Be sure you have a […]

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