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Community Bank – Cyber Risk & Best of GCOR Package

Cyber Risk Package 1

“Best of GCOR,” This year GCOR featured 4 streams of programming – Emerging Risk, Operational Risk & Governance, Culture, and Operational Resiliency.  RMA has developed a very special “Best of GCOR,” package for our community bank members to access.  Bank profitability—which is challenged by credit quality concerns, significant asset growth in low-yielding assets, weak loan demand, and other factors—has emerged as a significant strategic risk. In recent years, banks have mitigated this strategic risk through cost cutting, partnering with fintechs, and engaging in M&A transactions—whether as a buyer or seller.  RMA has included two of the most popular GCOR sessions – partnering with fintechs and Risk Management Considerations M&A transactions -- in this Best Of GCOR package for community banks.  Another significant emerging risk that will emerge over the coming months is the risk of PPP litigation.  This session presented by Andrew Goldstein, Esq., a former federal prosecutor, who will help banks to prepare now for coming PPP litigation.  Since banks have been operating in the pandemic for more than a year, it’s important to take stock of lessons learned and prepare for employees to return to facilities in this “new normal.”  The Best of GCOR bundle also includes lessons learned from the pandemic, as well as guidance for return to facilities for those banks whose employees have been working remotely.

Cyber Risk Package 2

Cyber risk is one of the top risks on the minds of CROs and the regulators.  As the OCC stated in its Spring Semiannual Risk Perspective, operational risk remains elevated. The ongoing monitoring and adjusting of internal controls, risk management practices, and risk mitigation strategies to adapt to the increasingly complex technology infrastructure and cybersecurity environment are critical. Cyber actors continue to focus on exploiting vulnerabilities identified in bank systems and third-party providers of information technology services.  With this in mind, RMA has packaged several sessions from GCOR – which feature experts from the defense and intelligence communities -- to assist community banks in managing cyber risk in this increasingly volatile environment.