2017 Social Media Survey

The survey was conducted by The Risk Management Association (RMA) between November 2017 and January 2018. Most of the questions were multiple choice with opportunities to provide comments. Some questions were open text, designed to provide information and insight about best and current practices. The purpose of the survey was to capture the current status of social media policies across a range of RMA member institutions and to gather detailed information on current and best practices and challenges.

In today’s world, social media has become the new communication platform for many, including the banking industry. Social media is not only viewed for entertainment purposes, but also provides institutions with an opportunity to work. Easy access via laptops, tablets, phones and other gadgets is one of the reasons for rapid growth of social media usage. In order to make social media more useful and effective in the workplace institutions find it challenging to keep their employees familiar with social media policies.

A total of 14 responses were received from a wide range of financial institutions including community, regional, and large banks headquartered in the United States and Canada:

  • Asset size below $10 billion: 5 responses
  • Asset size between $10-50 billion: 4 responses.
  • Asset size between $50-100 billion: 0 responses.
  • Asset size between $100-250 billion: 2 responses.
  • Asset size over $250 billion: 3 responses.

The final report provides participants’ responses, while protecting the confidentiality of individual institutions by masking the source of the responses. You may view a synopsis of the 2017 Social Media Survey (PDF) by clicking on the aforementioned link.

For questions please contact Sylwia Czajkowska, Associate Director/OpRisk, (215)446-4071, sczajkowska@rmahq.org.