Industry insiders review common risk factors

Every year, thousands of contractors face bankruptcy and business failure, whether in business for two years or 20. These firms leave behind unfinished private and public construction projects—and billions of dollars in losses that fall to project owners and taxpayers. In this whitepaper, learn what industry insiders see as the four main causes of contractor failure.

You will learn:

• The causes of contractor failure
• How to manage the construction risk
• Dos and don’ts to help contractors avoid default

Banking cybersecurity is a top internal challenge, a recent survey shows, and for good reason. Risks are prevalent and far-reaching, but defending against cybercriminals starts with safeguarding the bank or credit union itself and extends beyond using fraud detection software. Understand the threats, their nature, and recommended actions to bolster cybersecurity and safeguard the financial institution and its customers or members.

Download this whitepaper to learn:

• The prevalence of banking cybersecurity threats
• The biggest cybersecurity threats to banking firms
• Organization- and staff-level measures to address risks

Check out other banking cybersecurity resources:

• Webinar – Trends in financial crime: Traversing the cyber threat landscape
• Webinar – Check your checks and imposters: Latest fraud trends

Banks and credit unions still working on CECL implementation can learn from the experiences of financial institutions that have already adopted the accounting standard and from peers still in the process. To that end, Abrigo in mid-2022 surveyed financial institutions to assess their progress with CECL implementation. It is the fourth such survey since 2017 by Abrigo, which has worked with hundreds of financial institutions on CECL implementation.

Download the 2022 CECL Survey to learn:

• The CECL implementation progress of banks and credit unions
• Top challenges identified by financial institutions while complying with the guidance
• Actual and expected impacts on reserves and internal resources

Check out other top CECL resources:

• Guide to selecting an outsourcing partner for the CECL calculation
• 4 Elements of an effective CECL model validation

Environmental crimes, including wildlife trafficking, continue to increase among money launderers and terrorist organizations. Illegal wildlife trafficking involves the illegal trade, smuggling, poaching, capture, or collection of endangered species, protected wildlife, derivatives, or products thereof. Wildlife trafficking fuels corruption and threatens biodiversity and can have a significant negative impact on public health and the economy. Understanding the following red flags can help your financial institution detect this type of crime during AML investigations.

Download this checklist to learn:

• Red flag indicators
• Transactional monitoring
• Higher risk customers that require enhanced due diligence

Mergers and acquisitions have been top of mind for many financial institutions. There are numerous benefits when these consolidations go smoothly, including enhanced market power, more room for expansion, diversified customer base, and more. In this whitepaper, hear from industry insiders as they share best practices for financial institutions considering M&A.

Download to learn:

• The most common mistakes institutions make when exploring M&A opportunities
• Who should be involved in M&A planning
• Best practices and advice when planning for conversions

Anti-money laundering (AML) and fraud functions have historically been siloed into separate departments within financial institutions’ risk management structures. While the functions have many similarities, each team’s suspicious activity monitoring roles differ considerably and require unique analytical skillsets. As a result, AML and fraud departments have rarely collaborated on suspicious or fraudulent activity until recently. However, the recent increase in fraud, much of which is COVID-19 related, has led many institutions to consider the benefits of combining AML and fraud functions for improved investigative results. Over two-thirds of survey respondents in Abrigo’s 2021 FinCrime Industry Survey said that their BSA department also covers fraud.

Learn how AML and fraud can work together more closely to protect the institution from regulatory and reputational risks and hard dollar losses – whether the AML and fraud teams consolidate or remain separate. Understand the logistics of integrating AML and fraud departments, including the impact on procedures, processes, and threshold settings.

Download this whitepaper to learn:

• Key fraud alert processes and main considerations to review to ensure your financial institution remains safe and sound with a combined AML-fraud team
• Logistics of combining AML and fraud and actions to take in the consolidation process that will assist with a smooth transition
• Steps to identify gaps and work more collaboratively when there is little to no crossover between departments

Consolidating AML and fraud departments or boosting collaboration between the two can solidify your risk management program.

Looking for assistance enhancing your BSA/AML program? Learn how Abrigo’s experienced AML Advisory Team can identify your BSA/AML risk and evaluate the effectiveness of the controls in place.

Read more about assessing BSA/AML risks with this BSA/AML Risk Assessment checklist

Every financial institution has a defined set of goals focused around earnings, growth, capital, or a mix of things. To reach these goals, it is crucial to put together a thought-out and achievable plan that matches the talents of the institution. This whitepaper outlines regulatory capital and risk-based capital standards, as well as how capital planning and management can impact a financial institution’s ability to meet its goals.

Download to learn:

• Best practices for developing a capital plan
• Capital ratios for banks and credit unions
• Capital planning considerations and regulatory guidance

This resource is part of the series: ALM 101: Introduction to asset/liability management.

Financial institutions face various challenges, from the macro-economic environment to institution-specific issues related to meeting their goals and fighting financial crime. Nearly 70 experts in lending, credit, portfolio risk, financial crime, investing, and technology recently shared their views on what’s to come for the remainder of this year and how bankers can best pivot to serve their customers or members, their communities, and their shareholders.

Download to learn:

• What higher interest rates, market volatility, supply-chain problems, and inflation mean for your institution
• How technology can supplement your relationship-building advantages
• The role bankers play in preventing human trafficking

Other resources from Abrigo:

Interested in funding topics? Check out this webinar on Deposit strategies for the 2022 funding challenge

M&A is still a hot topic. Learn about implications for BSA/AML teams in this whitepaper.

As digital currency becomes more mainstream, financial institutions worldwide are increasingly embracing cryptocurrency blockchain technology. Cryptocurrency’s exponential growth and rising prominence make a baseline understanding of the technology behind these coins a must in the finance industry. But unless you were an early adopter of cryptocurrencies like Bitcoin and Ethereum, the history, terms, and concepts involved in the trade of these coins can feel overwhelming.

Download this whitepaper to learn:

• The basic tenants of cryptocurrency and its rise in popularity
• How blockchain technology relates to cryptocurrency
• Critical, related terms with the Crypto glossary

Watch our on-demand webinar, Crypto in financial Institutions – How to detect suspicious activity within your investigation

Since issuing the accounting standards update for the current expected credit loss (CECL) model in 2016, the Financial Accounting Standards Board (FASB) has continued to respond to feedback. In its latest response, the board recently issued updated accounting guidance that eliminates the troubled debt restructuring (TDR) designation for CECL. It also added enhanced disclosure requirements for public business entities related to gross charge offs.

Download to learn:

• Final FASB TDR guidance
• Disclosure requirements
• Potential PCD accounting changes on the horizon