When doing business with third parties, you need to be aware of the risks you may be facing. Although third parties may have access to sensitive information, many companies believe vendors wouldn’t notify them if there were a data breach. Therefore, it’s important you have your own cybersecurity system in place for vendors. Follow these… Read more »
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When you take on the responsibility of making all business decisions yourself, your company suffers. Here are some reasons why and how you can change your outcome by asking for help. Making Bad Choices Affects Business When you’re making too many decisions on your own, you end up making bad ones that negatively affect your… Read more »
Staying informed on the finance industry is a key part of your career growth. Find out more about major financial events by reading these four books. Barbarians at the Gate: The Fall of RJR Nabisco by Bryan Burrough and John Helyar Barbarians at the Gate details the contentious buyout of RJR Nabisco in 1988. Authors… Read more »
Although cyber attacks are increasing in frequency, there tend to be different ideas as to mitigating the risks. Find out what the government is doing to help lessen the threat of cyber attacks and how you can help. Starting Process Now Because a study performed by The Depository Trust & Clearing Corporation (DTCC) shows… Read more »
In February 2016, financial messaging system Swift inadvertently let hackers steal $81 million from Bangladesh’s account at the Federal Reserve Bank of New York. As a result of this and other cyber attacks against Swift’s users, U.S. banking regulators are increasing their oversight of the Belgium-based company and the financial institutions it serves. Response to… Read more »
Chances are you’ve heard about financial recruiters, but never actually used their services. Here are four ways a financial recruiter may help your company increase your bottom line. Provide Qualified Candidates A financial recruiter understands the job market and has insight into top candidates. A recruiter knows the best talent in the finance industry, including… Read more »
A whistleblower program can be an effective method for stopping fraudulent activities, although not many companies utilize such a program. Here are some steps to take in building an effective whistleblower program, and how they benefit businesses. A Whistleblower Program Should Encourage Early Reporting An effective whistleblowing program should include reporting financial fraud early and within… Read more »
When seeking a job in the finance sector, soft skills are just as important as number crunching. Here are four soft skills you must possess when working in the area of finance. Communication Because you’ll be working with colleagues in different departments, clear communication is vital. Not everyone has the same level of financial… Read more »
One of the areas that C-suite executives need the most improvement in is strategic planning. Because you want to separate yourself from the other high-level executives, you’re going to want to work on this area. Here are a few ways you can improve on your company’s strategy and help your business prosper. Emphasize Corporate Culture… Read more »
False positives are always an issue for a financial institution’s Money Laundering Reporting Officer (MLRO). The MLRO has to spend substantial amounts of time and money investigating every client record that matches a name on a risk, sanction, or politically exposed person (PEP) register. Although institutions may want to change their rules for identifying… Read more »