Control TV Episode #6: Personal Finance Managers

Episode #6 - August 28, 2009

Episode length: 19 minutes, 58 seconds

View on Viddler

Intro:

• Peter Glyman Co-Founder of Geezeo joins us as our first guest
  
• Find your hosts on Twitter: @SonyaJMills and @JimKisch
  and our guest @pglyman from @geezeo

Have Questions?

• www.continuity.net - Join Community and ask your banking peers
  
• Ask the Expert forums (on Community):
  • Andy Greenawalt [Information security]
  • Jim Kisch [Compliance and Risk Management]
  • Jesse Torres [Social Media Best Practices]
  • Karen Licker [Social Media Best Practices]
  
  
• LinkedIn: Compliance Support Group
• Twitter: @CE_Community and/or #ControlTv

Personal Finance Managers (PFM)

• Consumers demanding a better way to manage finances on the web
• PFMs enable consumers to track and manage their money, often aggregating multiple institutions in a single view (Wikipedia)
• 3rd party products frequently lead consumers to other products/better rates
• community FIs become commodity/rate = lost relationship value

Geezeo PFM suite:

• licensed to community FIs and integrated with their online banking platform
• no reason for consumer to look elsewhere
• Better than 3rd party PFM because it's tied to live data
• transactions are accurate
• alerts more robust
• can pull in outside assets (401k, etc) for a more complete financial picture
• Community
• consumers ask financial questions
• answers can be rated by community
• moderation and blacklisted terms
• enables more FI connection with consumers
• EXPERTS: handpicked and screened by the FI
• bio with ability for links to business site, LinkedIn and/or Twitter profiles
• Real Estate expert, small business owner, bankers, etc
• Moves the FI back inot position of trusted advisor for all things financial
• Community members providing lots of help earn credibility and become Community Experts (encourages community activity
• PFM suite ties together PFM and Community, bringing consumers a trusted banking relationship with the technology they crave for ease of financial management
• Working on a Mobile app for Stanford Federal Credit Union that can be replicated for other clients
  

FreePolicyTuesday:

Completely free on www.continuity.net for 1 week. All past policies are noted and archived on our free community.

• Wire Transfer Policy
• Setember 1st will be ACH policy
  

Closing Comments:

• interested in seeing the show live?
• please leave any feedback in the comments section

The Compliance Consultant: Bankers Talk #1

Thought we'd share a little Friday Fun

for banking Compliance officers and CEOs

Wire Transfer Policy - Free Policy Tuesday

This week's free banking policy, created by Jim Kisch, is a wire transfer policy. The purpose of the Wire Transfer Policy is to establish guidelines for the movement of funds by wire transfer to and from [Institution] accounts.

Every Tuesday, Continuity Engine releases a free banking policy for use by community banks and credit unions across America. These policies are made available through Creative Commons licensing so that banks and credit unions may freely remix and reuse the content to suit their individual financial institution's needs. When we release a new policy, the previous week's policy is archived on our community where it is always available for free to community members. In case you were wondering, membership in our community is always free for credit union folks and community bankers.

Please remember that this policy is only available for free on our website through September 1, 2009. If you are looking for a particular policy that you would like us to feature on a future Free Policy Tuesday, please let us know in the comments!

Control TV Episode #5: ITI software group, Pandemic, Vendor Management

Episode #5 - August 21, 2009

Episode length: 11 minutes, 53 seconds

View on Viddler

Intro:

• We've got our first live studio audience
  
• Find your hosts on Twitter: @SonyaJMills and @JimKisch
• New Client shout-out: Linda and Jason at Citizens Bank of New Ulm
  

Have Questions?

• www.continuity.net - Join Community and ask your banking peers
  
• Ask the Expert forums (on Community):
  • Andy Greenawalt [Information security]
  • Jim Kisch [Compliance and Risk Management]
  • Jesse Torres [Social Media Best Practices]
  • Karen Licker [Social Media Best Practices]
  
  
• LinkedIn: Compliance Support Group
• Twitter: @CE_Community and/or #ControlTv

What's Happening in the Forums?

The Uniti-East group has been using Control's community since last fall and we're looking forward to attending their annual conference in September. Recently members of the midwest Uniforum group and the Mid-South ITI User Group.

Additionally, we've got a Jack Henry user group and a Fiserv PCS user group if you use that software and are looking for others to talk about issues within your operations and data centers, those groups are a great resource. If you use a different vendor for your banking software and are interested in setting up a group on our community, please drop us a note and we'll get you set up!

Compliance Challenge of the Week:

Pandemic Planning and Response: Financial institutions need to be prepared for a pandemic incident. Prepare for up to 50% staff absences for periods of 2-3 weeks at the height of the pandemic. Implement vital testing, training, preparation and communication procedures.

Who: Sr. Management, HR, operations, compliance, IT, legal

How Often: quarterly/semi-annual. dependent on alerts

And by the way, we've got an ActionPack for that, just hit install and the entire process: from policy creation through audit, is automated for you.

FreePolicyTuesday:

Completely free on www.continuity.net for 1 week. All past policies are noted and archived on our free community.

• Vendor Management Policy
  

This policy was generously provided by Jesse Torres of Pan American Bank. The purpose of this policy is to provide guidance relative to the management of vendor relationships. Senior management and the Board of Directors recognize that the development of relationships with vendors is established as a way for the financial institution to offer certain products and services without the need to develop the products and services “in house.” Such “outsourced” relationships benefit the financial institution through reduced costs, improved performance, increased business competitiveness, access to a superior knowledge base and the need for a limited in-house staff to support the financial institution’s business needs.

Closing Comments:

• Check back on Tuesday to check out our next Free Policy Tuesday. We now publish this on the blog as well so you can subscribe to the RSS feed to be notified of each new release.
  
• interested in seeing the show live?
• please leave any feedback in the comments section

Vendor Management Policy - Free Policy Tuesday

Every Tuesday Continuity Engine releases a free banking policy for use by community banks and credit unions across America. These policies are made available through Creative Commons licensing so that banks and credit unions may freely remix and reuse the content to suit their individual financial institution's needs. When we release a new policy, the previous week's policy is archived on our community where it is always available for free to community members. In case you were wondering, membership in our community is always free for credit union folks and community bankers.

This week we are pleased to offer a Vendor Management policy that was provided by Jesse Torres, President and CEO of Pan American Bank in Los Angeles, CA. You can read more about Mr. Torres and his involvement with the Continuity Engine community in the post for episode 4 of Control Tv.

The purpose of the Vendor Management policy is to provide guidance relative to the management of vendor relationships. Senior management and the Board of Directors recognize that the development of relationships with vendors is established as a way for the financial institution to offer certain products and services without the need to develop the products and services “in house.” Such “outsourced” relationships benefit the financial institution through reduced costs, improved performance, increased business competitiveness, access to a superior knowledge base and the need for a limited in-house staff to support the financial institution’s business needs.

Please remember that this policy is only available for free on our website through August 24, 2009. If you are looking for a particular policy that you would like us to feature on a future Free Policy Tuesday, please let us know in the comments!

Control Tv Episode #4

Episode #4 - August 14, 2009

Episode length: 10 minutes, 57 seconds

View on Viddler

Intro:

• Find your hosts on Twitter: @SonyaJMills and @JimKisch
• New Client shout-out: Jesse and Carlos at Pan American Bank
  

Have Questions?

• www.continuity.net - Join Community and ask your banking peers
  
• Ask the Expert forums (on Community):
  • Andy Greenawalt [Information security]
  • Jim Kisch [Compliance and Risk Management]
  • Jesse Torres [Social Media Best Practices]
  • Karen Licker [Social Media Best Practices]
  
  
• LinkedIn: Compliance Support Group
• Twitter: @CE_Community and/or #ControlTv

What's Happening in the Forums?

Social Media Best Practices Group Ask the Experts forum:

Jesse Torres: President and CEO of Pan American Bank in Los Angeles. Mr. Torres' experience includes positions with the Office of the Comptroller of the Currency, a Big Four accounting firm and large and small west coast financial institutions. Mr. Torres is also the author of the popular Community Banker's Guide to Social Network Marketing and the Community Banker's Guide to Hispanic Marketing. Mr. Torres can be found on his blog at socialmediabanking.blogspot.com, on LinkedIn at www.linkedin.com/in/jessetorres or @jstorres on Twitter.

Karen Licker: Co-Founder of Bankerstuff.com, has over 20 years of experience in retail banking management and marketing. She has become a recognized leader in providing bankers with unbiased & cutting edge information on the subject of social networking and social media strategy. Karen holds her Bachelor's degree in Ethical, Political and Social Philosophy from the University of Massachusetts, and is a noted lecturer on retail bank sales & marketing strategy at industry conferences and workshops. Karen can be found on LinkedIn at http://www.linkedin.com/in/karenlicker and as @bankerstuff on Twitter.

Coming soon; Bankerstuff 2 part Social Media Toolbox webinar series

• Hear from thought leader on what’s important
• Learn from the community banker what they did that’s working
• Walk away from the sessions with tools to use right now
• Continue to share/explore ideas and resources on the social media group

Compliance Challenge of the Week:

Vendor Management: Financial institutions large and small rely on many vendors. All vendors require some level of oversight. There's lots to do in this area.

Who: IT Manager and Compliance

How Often: Monthly contract reviews, quarterly service level agreements and annual policy reviews

And by the way, we've got an ActionPack for that, just hit install and the entire process: from policy creation through audit, is automated for you.

FreePolicyTuesday:

Completely free on www.continuity.net for 1 week. All past policies are noted and archived on our free community.

• IT Audit
  

The purpose of the external IT audit policy is to establish written guidelines for IT audit coverage that will satisfy the board's audit responsibility for this area. This policy establishes the structure of IT audit coverage, and establishes the scope and frequency of IT audit coverage.

Closing Comments:

• Tuesday 8/18/09 Free Policy Tuesday will be Vendor Management
  
• interested in seeing the show live?
• please leave any feedback in the comments section

Control Tv Episode #3

Episode #3 - August 7, 2009

Episode length: 23 minutes, 9 seconds

View on Viddler

Intro:

• Find your hosts on Twitter: @SonyaJMills and @JimKisch
• New Client shout-out: Rachel & Nancy from Bridgewater - Wendy from Unity

Have Questions?

• www.continuity.net - Join Community and ask your banking peers
  
• Ask the Expert forums (on Community): Andy Greenawalt [Information security] and Jim Kisch [Compliance and Risk Management]
  
• LinkedIn: Compliance Support Group
• Twitter: @CE_Community and/or #ControlTv

What's Happening in the Forums?

ICBM history: Jim was their technology chairperson for a few years ending in about 03. Technology resource program, TechXpo, surcharge free network, Segway

ICBM

• Information Technology Security
• General Operations
• General Information Technology (network support, handheld devices policy, mobile banking, Voice over IP)
• Internet Banking, Online cash management, bill payment and mobile banking
• Imaging and Item Processing
• Reports and Business Intelligence
• Website hosting and design
• Fraud Management (data breaches, new card schemes, foreclosure counselors and pandemic)
• Core Banking Systems (Note other groups based on core banking systems: ITI, PCS, JHA)

Special thanks to Doug, Kathy and Marshall

Compliance Challenge of the Week:

• ACH
  

What's the issue: managing credit risk, compliance risk (REG CC, DD, E, BSA/AML OFAC) and transaction risks.

Who: credit risks require input from lending area, compliance folks are managing compliance risks and operations folks are covering the transaction risks.

For example:
Underwrite each new originator
Monitoring your thresholds monthly
Reading understanding rules and distributing ACH rules
Review Reg D disclosures monthly
Review Reg E disclosure annually
Review reciprocal or outsource processing agreements annually
Compliance should review audit activities annually

And by the way, we've got an ActionPack for that, just hit install and the entire lifecycle is automated for you.

FreePolicyTuesday:

Completely free on www.continuity.net for 1 week. All past policies are noted and archived on our free community.

• Internet Acceptable Use Policy
  

The Information Systems Department must approve all Internet users based on their specific needs in performing their job functions. Employees should be aware that nothing on your computer is private information. The Bank Management and the Information Systems Staff, and in some cases other designated staff members, may view the contents of your computer at any time, and all email, letters, visits to web sites, and all other information may be reviewed without your permission or knowledge at any time. Internet users must follow these Internet guidelines.

Closing Comments:

• interested in seeing the show live?
• please leave any feedback in the comments section

Control Tv Episode #2

Episode #2 - July 31, 2009

Episode length: 20 minutes, 26 seconds

Intro:

• Find your hosts on Twitter: @SonyaJMills and @JimKisch

Have Questions?

• www.continuity.net - Join Community and ask your banking peers
  
• Ask the Expert forums (on Community): Andy Greenawalt [Information security] and Jim Kisch [Compliance and Risk Management]
  
• LinkedIn: Compliance Support Group
• Twitter: @CE_Community and/or #ControlTv

What's Happening in the Forums?

• Community: Geeks (IT Type Folks): Encrypting Emails

"Does anyone encrypt their emails? What method/software do you use? Or maybe what do you use to encrypt files that you send via email?"
Zix Corp
MailSafe from Perimeter: hosted solution

Compliance Challenge of the Week:

• ID Theft Red Flags
  

Financial institutions are required to monitor red flags for ID theft. A red flag might be that a customer address change request is to an address that cannot be validated by credit report, utility bill, etc. If the institution cannot validate the address change it throws up a red flag. These "red flags" require a response which might be as simple as visiting the address to rule out that ID theft.

Our ActionPack helps prevent ID theft by managing these red flags in the institution and when it occurs facilitates personnel alerts and prompt response to the identity theft. The ActionPack automatically audits and improves the institution's ID theft protection program. The ActionPack is complete with reporting, training and guidance tools. Everything you'll need to Red Flags compliance. Here's what the ActionPack controls:

• monitors ID theft incidents, so the institution can determine whether they have enough red flags to prevent ID theft
• sends onDemand alerts such as suspicious activity to appropriate personnel. For example: Jim Kisch's checks were stolen from the mailbox, all tellers be on the alert!
• manages the list of accounts that should be 'covered' by ID Theft Protection Program. Red flags should generally be established for personal, family or household accounts.
• schedules the assessment to determine what degree these 'covered' accounts are vulnerable to ID theft exploits
• provides for a red flag detection and response analysis
• monitors service provider red flags and ID theft protection measures, the institutions compliance is dependent on it's service providers
• scheduled ID theft awareness program complete with common methods of identity theft. Our helpful information coupled with incident reports and any of the institution's material will be circulated to personnel at least annually.
• ID Theft Protection Program controls audit and "gap" analysis is performed at least once a year. All weaknesses in the institution's Red Flag will be addressed.
• informs clients of common weaknesses and regulator concerns.

FreePolicyFriday:

• Computer Security Incident Response Plan

The purpose of an incident response plan is to establish a formal procedure for handling suspected system intrusions, system misuse, or any situation where unauthorized access to confidential or customer information is detected.

Closing Comments:

• interested in seeing the show live?
• please leave any feedback in the comments section