"Today's risk management professionals really need to take a strategic view of managing risk to be relevant in achieving the organization's expected outcome," says Philip Alexander of Wells Fargo Bank.
AML concerns heat up, as FinCEN warns U.S. institutions to scrutinize accounts held by foreign political figures. And the unofficial release of an FFIEC draft about online authentication guidance opens regulators to more feedback and criticism.
Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank.
Speculation about the pending update to online authentication guidance has been circulating around water coolers for months now. "A [disclosure] like this could make it more challenging for the regulators," says attorney David Navetta.
"It's interesting to see regulators putting the onus on the financial companies for fraud that occurs after the theft has already happened," says David Navetta, co-chairman of the American Bar Association's Information Security Committee.
Describing it as the capstone publication of a partnership with the defense and intelligence communities, NIST publishes new guidance on managing security risk associated with the operation and use of IT systems.