As a service to our members, the Risk Management Association has created a website to aid financial institutions in their response to the COVID-19 coronavirus. The site’s resources include a detailed crisis management planning checklist, recommended internal and external communications protocols, an analysis of potential pandemic scenarios and their implications, and RMA Journal articles focused on keeping your financial institution and its people safe.
Pandemic/Crisis Management Tools
Legislation & Regulatory Guide
Blogs & Articles from Trusted Sources
Pandemic Phases
- Interpandemic phase: This is the period between influenza pandemics.
- Alert phase: This is the phase when influenza caused by a new subtype has been identified in humans. Increased vigilance and careful risk assessment, at local, national and global levels, are characteristic of this phase. If the risk assessments indicate that the new virus is not developing into a pandemic strain, a de-escalation of activities towards those in the interpandemic phase may occur.
- Pandemic phase: This is the period of global spread of human influenza caused by a new subtype based on global surveillance. Movement between the interpandemic, alert and pandemic phases may occur quickly or gradually as indicated by the global risk assessment, principally based on virological, epidemiological and clinical data.
- Transition phase: As the assessed global risk reduces, de-escalation of global actions may occur, and reduction in response activities or movement towards recovery actions by countries may be appropriate, according to their own risk assessments.
Global Influenza Program, Pandemic Influenza Risk Management, a WHO guide to inform & harmonize national & international pandemic preparedness and response, May 2017
Crisis Management Planning Checklist
- Incorporate Crisis Management Response Planning into your organization’s Business Continuity Management (BCM) Plan
- Identify individuals who will be responsible to develop and maintain the organization’s Crisis Management Response Plan
- Establish a planning committee including representation of all program areas within the organization
- Review Crisis Management Response Planning planning assumptions and add any additional organization considerations
- Use the BIA(s) to identify and prioritize essential functions/vital services within the organization
- Review the list of elements to be contained in the BCM Plan that specifically address a response to a “crisis event”
- Use the World Health Organization (WHO) Phases and the Government Response Stages as a guide to establish trigger points for specific implementation of actions within your plan
- Obtain agreement of the roles and responsibilities in the planning process and response phases from all participating individuals within the organization
- Allocate sufficient and accessible health/medical supplies to protect your employees and customers during a crisis event
- Educate employees on pandemics and other crisis events
- Collaborate with government, state and local public health agencies and/or emergency responders to participate in their planning processes, share your crisis management response plans, and understand their capabilities and responses
- Validate your organization’s Crisis Management Response Plan
- Document lines of succession for the organization and divisions within the organization
- Document procedures to institute delegation of authority
- Identify all essential functions/vital services and identify any critical times of year when certain functions must be performed and which services can be suspended. (The BIA should be used to prioritize vital services within an organization.)
- Include minimal staffing requirements and alternative approaches to maintain services when normal staffing requirements and approaches to maintain services have been compromised.
- Identify primary and alternate staff leads for vital services.
- Identify staff from low impacted services that can be cross trained to back fill priority vital services.
- Confirm or identify a Public Information Officer (PIO) for the organization with a line of succession 4-5 staff deep that will disseminate information within and outside the organization.
- Document a communications plan including a point of contact for collection of information relating to the operational status of a service and a method for notifying staff of changing information and communication to customers.
- Identify and adjust any human resource policies to handle extreme circumstances related to a crisis. (Employee compensation, sick-leave absences, flexible worksite, telecommuting, outbreak prevention, travel, etc.)
- Identify any impacts that your reduced level of service will have on other regional agencies, government or local jurisdictions. Determine alternatives to critical services you receive from others.
- Identify goods and services you receive from others. Determine what goods should be purchased and stored for emergency use. Establish contracts and agreements with backup vendors and other jurisdictions for mutual aid as appropriate.
- Identify proactive measures to put in place to prevent the spread of disease; including ways you can achieve social distancing in the delivery of essential functions/vital services.
- Identify the organization’s technology needs to support large-scale telecommuting, e-commerce and telecom.
Communication Protocols by Phase of Pandemic
- Notify external parties that the organization has a Pandemic Plan
- Organize a staff awareness program
- Prepare or adapt communications tools
- Prepare communications plans for each pandemic phase
- Reassure employees, clients, and business partners (managing anxiety)
- Respond to questions addressing common concerns
- Anticipate questions that may be frequently asked
- Respond to employees’ need for information
- Respond to clients’ need for information
- Support business continuity management
- Promote electronic communications and avoid communications channels that can spread the disease (hard copies of documents, meetings, etc.)
- Contact regulatory authorities for information or if legal or regulatory non-compliance is expected due to a pandemic
- Manage client dissatisfaction
- Prepare for the next wave, applying experience from previous phases
- Notify employees of adjustments to the Pandemic Plan
Characteristics of a Pandemic
Even organizations that are highly advanced in the area of operational risk management need to reconsider their risk management strategies in light of the distinctive characteristics associated with crisis management planning.
Crisis Management Response Planning Framework
Possible Scenarios
The scenario analysis was based on Autorité des marchés financiers (AMF), August 9, 2006, the AMF released a guide for preparing for a possible influenza pandemic intended for financial institutions. “The Autorité des marchés financiers (AMF) considers it essential that Québec financial sector participants be adequately prepared for a possible influenza pandemic. This means they must have business continuity management plans in place that establish measures to identify and attenuate impacts and ensure the continuity of an institution’s critical functions. The measures must be adapted to the characteristics of a possible influenza pandemic.” After SARS, the Canadian government made a commitment to be prepared for the next pandemic. They established a number of policies and regulations to support and control the activities associated with managing pandemics.
A special thank you to Stephany Head, PhD, Oprisk Associates, for working with RMA to put all of these Pandemic/Crisis Management tools together.
RMA brings you these timely webinars – additional offerings to our Risk Readiness Webinar Series – to address the recent coronavirus outbreak and the necessity for financial institutions to include pandemic planning in their risk frameworks.
Slides will be provided for each webinar.
Pandemic Planning: Crisis Management in the Framework of Operational Risk
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Session Description
Pandemic planning, a component of a comprehensive crisis management strategy, is becoming increasingly important to an organization’s survival and continued success in our ever complex global economy. Our ability to effectively respond in times of crisis requires an understanding of our critical infrastructure requirements, an appreciation for the human needs of our organization, and a predefined ability to integrate and use public resources (both on a national and international level). Crisis management extends the normal processes of business continuity management. A crisis event can create multiple issues that evolve over time, requiring unique responses, flexibility in strategy, and interdependence between other organizations and public resources on a national and possibly international scale.
The webinar discusses the distinctive characteristics associated with crisis management planning, with a focus on organizational responses to a pandemic. Specific topics include:
- Overview of crisis management
- Potential impact
- Communication plans
- Infrastructure dependency plans
- Governance
Presenter Stephany Head, Ph. D., who has worked with the federal government and private industry implementing enterprise risk management programs, and who recently co-authored an RMA Journal article on cybersecurity readiness, will provide various scenarios and a crisis management response-planning framework to help institutions get started immediately.
Who will benefit?
Individuals within an organization responsible for understanding, planning, and overseeing the implementation of the institution's pandemic response program should attend. This webinar is appropriate for all size institutions.
The Effect of Pandemics on Credit Risk
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Session Description
In a follow-up to RMA’s Risk Readiness Webinar that addressed the operational risks presented by pandemics, Joe Breeden of Prescient Models will address how pandemics can affect your financial institution’s portfolio. The session will discuss stress testing a pandemic, and features Breeden’s top learnings as a forecaster for a major lender in Hong Kong during the SARS crisis.
Coronavirus Briefing: A Risk Management Perspective
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2:30–3:30 P.M. E.T.
Session Description
With the world bracing for the potential impact of the COVID-19 coronavirus, financial institutions must take action now to protect customers and colleagues, ensure business continuity, and manage a wide range of associated risks. In an RMA Risk Readiness Webinar EXTRA, Mick Ankrom, RMA Chair and Bank of America’s Head of Enterprise Credit Risk, will discuss the coronavirus response in a Q&A with RMA CEO Nancy Foster. The webinar will also include an update on the coronavirus outbreak and segment on internal pandemic communication hosted by Stephany Head, Ph.D., of Op Risk Associates. Head was the presenter for RMA’s recent Pandemic Planning webinar, which is available for download.
The Effect of Pandemics on Credit Risk
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1:00–2:00 P.M. E.T.
Session Description
In a follow-up to RMA’s Risk Readiness Webinar that addressed the operational risks presented by pandemics, Joe Breeden of Prescient Models will address how pandemics can affect your financial institution’s portfolio. The session will discuss stress testing a pandemic, and features Breeden’s top learnings as a forecaster for a major lender in Hong Kong during the SARS crisis.
Pandemic Planning: Crisis Management in the Framework of Operational Risk
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Session Description
Pandemic planning, a component of a comprehensive crisis management strategy, is becoming increasingly important to an organization’s survival and continued success in our ever complex global economy. Our ability to effectively respond in times of crisis requires an understanding of our critical infrastructure requirements, an appreciation for the human needs of our organization, and a predefined ability to integrate and use public resources (both on a national and international level). Crisis management extends the normal processes of business continuity management. A crisis event can create multiple issues that evolve over time, requiring unique responses, flexibility in strategy, and interdependence between other organizations and public resources on a national and possibly international scale.
The webinar discusses the distinctive characteristics associated with crisis management planning, with a focus on organizational responses to a pandemic. Specific topics include:
- Overview of crisis management
- Potential impact
- Communication plans
- Infrastructure dependency plans
- Governance
Presenter Stephany Head, Ph. D., who has worked with the federal government and private industry implementing enterprise risk management programs, and who recently co-authored an RMA Journal article on cybersecurity readiness, will provide various scenarios and a crisis management response-planning framework to help institutions get started immediately.
Who will benefit?
Individuals within an organization responsible for understanding, planning, and overseeing the implementation of the institution's pandemic response program should attend. This webinar is appropriate for all size institutions.
Employment Issues During the Fast-Changing COVID-19 Response
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Session Description
Since March 11, U.S. employers have gone from planning for a possible pandemic to widespread voluntary self-isolation, and increasing mandatory government restrictions to try to limit the spread of COVID-19. Many business have seen dramatic drops in customers. This webinar will provide practical answers to the most common questions facing employers, and a high-level analysis of any new federal legislation.
With Covid-19 Spread, Cybersecurity and Data Privacy Risks Also Rise
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Session Description
The COVID-19 crisis is expanding cybersecurity and data privacy risks for financial services organizations in important ways: First, cyber criminals are taking advantage of this crisis to launch phishing campaigns specifically intended to lure email users into clicking on malicious links or attachments that appear to be legitimate information from public health officials and other news sources about the growing coronavirus risk.
Second, as more organizations are moving towards remote transactions, cyber criminals will be taking advantage of the COVID-19 crisis to increase business email compromise attacks intended to trick unsuspecting companies and individuals into wiring funds to fraudulent accounts.
Third, as organizations of all kinds have more staff working remotely as part of their overall coronavirus response, there is a heightened risk that staff may handle privacy-protected information outside of secure channels – forwarding sensitive information to personal email accounts, uploading it into non-secure or personal cloud storage platforms, downloading it onto removable media, and the like. All of these workarounds, and other common work-from-home scenarios, increase the risk that there could be unauthorized disclosures of data that’s subject to various privacy laws or contractual data protection obligations, and that cyber actors may gain access to the organization’s data or systems.
Finally, the coronavirus outbreak is confronting organizations with complex questions under U.S. and international data privacy laws as they consider how to balance rapid and effective containment, mitigation, and response to COVID-19 threats while complying with the complex requirements of multiple privacy laws. From biometrics to data mining, organizations are looking at novel technologies as well as traditional measures to identify and forecast potential impacts of COVID-19.
This session will provide an overview of the ways in which the current incident is increasing the complexity of privacy and cybersecurity legal risks, and discuss steps that organizations can take to mitigate those risks.
First Quarter CECL Considerations Amid the COVID-19 Pandemic
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Mike A Shearer, PricewaterhoueCoopers Advisory Services LLC
Jonathan Prejean, Deloitte Advisory Financial Services Deloitte & Touche, LLP
Benjamin Hoffman, KPMG LLP
Session Description
Stress Testing for Pandemics Representatives from EY, PWC, KPMG, and Deloitte will discuss and answer questions about the CARES Act, Covid-19 and what they mean for the CECL process in terms of governance, validation, models, calculations, application of national forecast models, and qualitative factors.
Target audience: This webinar is for leaders in U.S. financial institutions that are adopters of CECL for 2020. It is useful to all senior level positions, and analytics practitioners who work with data gathering, build, model and test, finalize and report, and validation.
CARES Act – SBA Paycheck Protection Program: Basics and Beyond
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Jai Massari, Davis Polk firm
Session Description
The Small Business Administration’s Paycheck Protection Program is set to launch on Friday. The webinar will cover the basics of the PPP and provide details on key aspects of lender and borrower eligibility and loan forgiveness under SBA and Treasury guidelines.
FEDERAL RESERVE PROGRAMS FOR COMPANIES IN RESPONSE TO THE COVID-19 PANDEMIC WEBINAR
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Session Description
This session, targeted to the financial services institutions that will help fund the nation’s recovery, will describe the different programs that the Federal Reserve, working with the Treasury, has or will soon be putting in place for companies of all sizes.
Negative Interest Rates – Impacts and Readiness
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Lisa Maus, Principal, Ernst and Young LLP
David Gagne, Managing Director, Ernst and Young LLP
Orla Hanrahan, Senior Manager, Ernst and Young LLP
Mark Nichols Senior Manager, Ernst and Young LLP
Session Description
A briefing on the implications of a negative interest rate policy in the U.S. on financial institutions. RMA Global Markets Risk Director Fran Garritt will moderate a panel of subject matter experts from Ernst & Young as they discuss actions financial institutions can take to prepare for a potential negative rate environment.
On March 15, the Federal Reserve cut interest rates to a range of 0% to 0.25% to protect the U.S. economy from effects of the COVID-19 outbreak. Now, U.S. market participants are preparing for a negative rate policy given continued market instability and the prevalence of negative rates in other countries.
Panelists will outline practices for firms to assess and mitigate disruptions to ongoing business activity, risk management, technology, and operations. Key areas of focus to be covered during the session include:
- Recent market developments and negative rate scenario analysis
- Observations and lessons learned from negative rates in Europe and Japan
- Negative interest rate readiness assessment and program mobilization
- Product pricing impacts and profitability considerations
- Potential enhancements to operational processes, systems, models, and legal contracts
UPDATES ON CECL AMID THE COVID-19 PANDEMIC IMPACT ON REGULATIONS, MODELING, AND QUALITATIVE CONSIDERATIONS – PART 2
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Session Description
This is the second session that will build upon the prior session by diving deeper into consumer and commercial modeling considerations under COVID-19 and the connection to the qualitative framework. Additionally, we will discuss the latest updates from FASB and the regulatory bodies on CECL deferral and TDRs.
Provides participants with relevant background on the stimulus package as well as discuss the current concerns around CECL – COVID 19 impact. Panelists will discuss the deferment of CECL; current modeling forecasts concerns. Key areas of focus to be covered during the session include:
- Defer or not to defer? – That is the question.
- Scenarios and R&S forecasts (i.e., how are people thinking about scenarios and weighting, lagging information vs. subsequent events, changing or maintaining the R&S horizon)
- Regulatory actions and guidance (i.e., capital buffers, TDR guidance, true structural problems vs. near term cash flow relief, etc.)
- Modeling and qualitative overlay considerations (this is where the consumer vs. commercial discussion will start to be differentiated - variables in the models and variable transformations driving intuitive / non intuitive response, sectoral risks not captured through more generalized variables, nuances around PD, LGD, EAD, Prepayment model components, etc.)
- Disclosures (perspectives on disclosures in the face of uncertainty)
Liquidity at Community Banks in a Pandemic: Being Prepared for the Unknown
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Session Description
Bank lending had been robust, both commercial and consumer lending, and liquidity was tightening in the community banking industry. Then in mid-February everything changed with the rapid growth of the Coronavirus. This session will focus on the state of the industry in early April. Key areas of focus to be covered during the session include:
- State of liquidity in the community banking industry pre-crisis
- Drivers of liquidity going forward
- Mitigating factors: the $2.2 trillion Cares Act and SBA initiatives plus expansive monetary policy from the Fed
- Deposit flows, borrowing sources and the Fed Discount Window
- Opportunities given the rate environment and caveats
- Excess liquidity with zero yield on cash vs. loan deferments and cash flow disruptions Check list
A Lender’s Guide to Workouts- Before and After COVID-19
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David Sewell
Sidra Mahfooz
Session Description
This webinar will address the rules of the road for banks in their dealings with financially distressed customers, and how the paradigm has shifted as a result of COVID-19 and changes to the bank regulatory framework.
Managing through a Downturn
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Preston Thompson, EY Managing Director Credit Risk
Session Description
The scope, duration, and severity of the COVID-19 threat is, as yet, unknown, leaving financial institutions to confront a new reality.
How can leaders act decisively to protect the financial well-being of their customers, support critical operations, and restore market confidence? What tools do firms have to confront this crisis? And what tools do they need to build to face unprecedented challenges?
During this timely webinar, Tom Sebekos, EY Principle Credit Risk and Preston Thompson, EY Managing Director Credit Risk, will discuss the challenges that banks are facing from a credit risk perspective, focusing on three themes:
- Assessing and managing risk
- Workout and restructuring approach
- Communications and operations management
A Lender’s Guide to Dealing with COVID-19
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Steven Martin, RMA Solutions
Session Description
With the nation under stay-at-home orders, large sectors of the economy have ground to a halt. Business owners face immediate cash flow disruptions, and are having to make tough choices quickly and without much guidance.
All banks are now faced with a huge volume of activity. New government support programs will run through the banks. What are some things banks can do to handle the challenges of this shock to the economy?
In this webinar, we present a set of practical ideas banks should consider to address the near term, and to lay the groundwork to come out of the pandemic stronger than ever before. If you are looking for inspiration to dealing with these challenging times, please join us.
Sponsored by: Fincura
Consumer Credit in the Time of COVID-19: Saviors or Victims?
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Session Description
In the blink of an eye the global economy changed with the arrival of COVID-19. In this session we will consider projections for the US economy at both a national and regional level. We will discuss the trajectory of the COVID-19 virus and how it could impact the re-opening of the US economy. We will examine recent real-time and alternative economic data to gauge the impact of widespread lockdown and stay-at-home measures. We will summarize monetary and fiscal policies and how they may shorten – or prolong – a recovery. Finally, we consider how all of these factors are impacting individual families and their spending, saving and borrowing decisions.
Real Estate in the time of COVID-19: a REIT perspective
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Session Description
Real estate in the time of Covid-19: a REIT perspective.
The impact of COVID-19 will be felt across all properties types as the effects of social distancing, travel restrictions and economic recession will deteriorate the financial health of tenants. S&P Global real estate analysts will discuss ongoing developments in multiple property types, as well as key financial considerations as REITs weather through this pandemic.
Steps Banks & Financial Institutions can take to mitigate fraud & risk during the COVID-19 crisis
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Session Description
COVID-19 has opened the door to many new risks and will continue to throughout the year. New processes and procedures need to be developed for once people begin to return to work and physical businesses re-open. As the Payroll Protection Program is poised to receive additional funding, financial institutions will need to consider operational risks around distribution of these funds, identification of fraud as well as potential lawsuits from companies unable to secure funding. Learn practical steps for identifying risks and how to manage them.
Sponsored by: LogicManager
Auditing Financial Services Companies Operating in a Virtual Business Model
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David Horn, Managing Director, Head of EMEA Technology Audit, Bank of New York Mellon
Session Description
Attendees of this Webinar will hear about the challenges, pitfalls and best practices related to working and auditing from home. Given the changing risk profiles of financial services companies during these unprecedented times, the presenters will share real life examples of how, and what, they are focusing on as audit professionals in a virtual world.
COVID-19: FINANCIAL IMPACTS AND BOARDROOM PERSPECTIVES
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Kevin Blakely, Senior Advisor, Oliver Wyman
Ken Phelan, Senior Advisor, Oliver Wyman
Eric Czervionke, Partner, Financial Services, Oliver Wyman
Douglas Elliott, Partner, Financial Services, Oliver Wyman
Jai Sooklal Partner, Financial Services, Oliver Wyman
Session Description
Join a webinar hosted by Oliver Wyman, focused on issues Board members are facing as the U.S. banking industry faces the financial consequences of the COVID-19 pandemic. The discussion will center on issues faced by Board members, as well as highlight watchpoints for the second quarter and beyond. Topics covered will include:
- The Public Sector Response and Opportunities: What has been the U.S. government response so far? How have programs impacted banks? What are the associated risks and opportunities associated with Main Street Lending and other government programs?
- The Financial Impact Thus Far: How has the pandemic impacted bank earnings and capital adequacy in Q1? How has performance varied by bank category and business? How has CECL implementation affected the interpretation of results? Where are the bright spots and where were the weak points?
- The Road Ahead – Preparing the Cockpit: How are earnings like to evolve in Q2 on beyond? What information will be critical to monitor and manage bank financial performance as the crisis evolves? What capabilities are required to re-forecast capital and funding plans and conduct scenario analyses? How do I trust and interpret the results?
Brave New World: COVID-19, Economic Disruption, and the Outlook for Multifamily and Commercial Real Estate
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Session Description
In this webinar, Moody’s Analytics head of commercial real estate, Victor Calanog, will provide an overview of the near-term future of the US economy, and how to think through the forces that are stressing various property types and geographic markets – where is the stress concentrated? Why? And how will the built environment evolve in response to this shock? Which effects will be transitory and which ones are likely to be more lasting?
Model Risk Management and the Impacts of Covid-19
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David Andrukonis, Managing Director, RiskSpan
Session Description
Attendees of this webinar will hear about the challenges facing financial institutions in managing model risk in these unprecedented times. The presenters will discuss some of the key aspects of models including input data, processing components, outputs and the overall governance framework and how four broad model categories are impacted in these areas by the pandemic. The presenters will share insights and best practices related to managing these risks.
Anticipating and Mitigating the Coming Wave of COVID-19-Related Litigation and Government Enforcement Actions
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Justin Danilewitz Partner, Saul Ewing Arstein & Lehr LLP
Session Description
Across all industries and practice areas, attorneys are predicting a wave of litigation and government enforcement actions stemming from the COVID-19 pandemic. Indeed, the first indications of a groundswell are already apparent, with both newly filed COVID-triggered private civil complaints and the first COVID fraud-related criminal prosecutions already underway. On the civil side, potential claims will run the gamut, touching on employment related issues and newly created statutory rights. With the overnight transition to remote working and the unexpected need to lay off large numbers of workers, employers can expect to see a variety of Fair Labor Standard Act claims and potential WARN Act violation allegations, both of which are uniquely situated to become class actions. On the enforcement side, prosecutors and regulators are responding to a variety of fraud schemes, including fraud and abuse in connection with the federal stimulus funds available under the CARES Act. Meanwhile, all of this is occurring against the backdrop of new state and federal legislation creating a legislative minefield for compliance professionals.
Join us for a discussion of COVID-19 litigation, including exposure risks, damages, and potential mitigation efforts.
The CARES Act, Cannabis and Banking: Hot Topics
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Suzanne Saxman, Partner, Seyfarth Shaw
John Shire, Partner, Seyfarth Shaw
Session Description
The CARES Act has created a number of new lending programs including the Paycheck Protection Program (PPP) and the Main Street Lending Program. Interim Regulations, Model Term Sheets and FAQs have been issued at a dizzying pace leaving many questions unanswered. While “plant touching” marijuana related businesses have been excluded from these programs, questions remain as to whether “non-plant touching” businesses serving the marijuana industry can access programs under the CARES Act. This webinar will cover hot topics and unanswered questions related to these issues and of particular interest to the banking industry.
COVID-19’s Impact on Rates Including Potential Negative Rates, Yields and Other Markets Risk Contingencies
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Session Description
Get details on the risks to various markets unleashed and exacerbated by the COVID-19 pandemic, including the possibility of a negative interest rates policy and other moves by the Federal Reserve, and uncertainty surrounding yields and the LIBOR transition. This session hosted by the head of Bank of America’s interest rate strategy team will also address the impact of fiscal policy including various government stimulus programs, and a look at what the rest of 2020 may hold.
Fraud Risk in an Environment of Uncertainty and Change
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Bruce Goldberg, Deloitte
Margarita de Guzman, TD Bank
Jasmine Williams, Deloitte
Session Description
The COVID-19 pandemic has caused rapid changes in oversight with new risks emerging across the industry, including fraud risk. Managing fraud risk is critical for effective enterprise risk management. This webinar focuses on internal audit's role in identifying and mitigating those risks in uncertain times.
Our panel of fraud and financial crime professionals have broad knowledge and experiences in enterprise fraud risk assessments and investigations and will share leading strategies and practices to implement now and post crisis.
After attending this webinar, attendees will be able to:
- Identify the heightened fraud risks that your institution is facing during the COVID-19 crisis because of increased business pressures and uncertainties.
- Understand the causes of heightened fraud risks and anticipate issues emerging three months to one year from now and post crisis.
- Identify and address emerging risks while maintaining the most critical components of the enterprise fraud risk management program.
Agenda
- Challenges due to the COVID-19 crisis
- Fraud risk management
- 3. Fraud risk considerations
- Perspectives on evolving fraud risk priorities
Resilient leaders in a crisis take specific actions across three dimensions - Mitigating and managing fraud risk in times of uncertainty
Crisis management, strong leadership, culture of compliance - Awareness –Why do we miss fraud?
Q1 Credit Trends in Commercial Lending - Risk Analysis Service
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Jeremy Chalson, AFS
Steven Martin, RMA
Session Description
To get one of the first looks at credit quality since COVID-19, please join us for the Q1 Credit Trends in Commercial Lending webinar on May 21, 2020 from 1:00-2:00 PM Eastern. We are already seeing the impacts, including:
- Total C&I loan balances surged during the end of the first quarter.
- CRE loan balances continued to expand at a healthy pace.
- Short-term C&I delinquencies (30-89 days past due) spiked in 1Q2020.
- The median vacancy rate for hotel properties nearly doubled quarter over quarter in March.
Special Topic: Update on the Energy Sector. This quarter, we analyze recent and historical trends in loan growth and credit quality for the Energy industry, a sector battered by recent price declines as well as the COVID-19 pandemic
Workout and Pre-bankruptcy Basics and Strategies for Community and Regional Banks Amid Covid-19
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Session Description
As we maneuver through the financial crises brought on by Covid-19 we may find business customers facing uncertain financial futures and seeking relief on their debts, whether through a structured workout or a bankruptcy proceeding. When a borrower’s financial future is in doubt, or it is facing insolvency, the account is usually transferred to a workout specialist, but community and regional bank bankers who are not workout specialists need to know the basics to navigate the troubled credit process. What should you be doing in the workout phase to maximize recovery and minimize the risk on a troubled loan? Are there measures you can take prior to a bankruptcy brought on by Covid-19 to mitigate your risk? Hear from an attorney who specializes in workouts and bankruptcy law explain how to maneuver during this very critical period.
CRA Modernization Final Rule
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Bao Nguyen, Principal Deputy Chief Counsel, OCC
Ralph DeLeon, Director of Banking Relations, OCC
Session Description
RMA is pleased to present a special webinar session that will cover the features of the Office of the Comptroller of the Currency’s recently issued final rule modernizing the agency’s regulations under the Community Reinvestment Act. Joining us for this session will be OCC Acting Comptroller Brian Brooks, Senior Deputy Comptroller Grovetta Gardineer, and OCC Principal Deputy Chief Counsel Bao Nguyen. These OCC officials will compare and contrast the new rule with the agency’s previous rule and the CRA rules currently in place and enforced by the Federal Reserve Board and the Federal Deposit Insurance Corporation. A question and answer session will follow the presenters’ formal remarks.
Return to Normalcy – What Internal Audit Should Focus On
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Kevin Murray, Managing Director Head of Americas Audit, UBS AG
Paul Jensen, Managing Director, Global Head of Audit Practices, MUFG
Session Description
As the initial wave of the COVID-19 pandemic tapers off, businesses are looking to reopen and some of the remote workforce will be going back onsite. As a result, the work environment we have become accustomed to will be changing, creating new challenges and risks that internal audit groups will have to assess. This webinar focuses on internal audit's role in identifying and planning for those risks in uncertain times.
Our panel of internal audit professionals have first-hand experience in managing an IA function through this pandemic and planning for post-COVID operations; and will share leading strategies and practices for consideration.
After attending this webinar, attendees will be able to:
- Identify new and unique risks facing your institution as you shift away from a fully remote workforce.
- Understand the causes of post-COVID business pressures, related uncertainties and anticipate emerging issues post crisis.
- Help your organization’s internal audit function align the audit plan in response to the evolving business environment, using the insights gained from your colleagues in this discussion.
Agenda:
- What will “a return to normalcy” look like post-COVID?
- IA’s mission during and post-COVID
- How IA can evolve the internal audit plan
- Audit plan considerations for COVID and related events/risks
- Key takeaways
BOARD ROOM PERSPECTIVES: COMMERCIAL CREDIT RESPONSE IN THE COVID-19 ERA?
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Kevin Blakely, Oliver Wyman Senior Advisor, Board Member at HSBC USA and formerly Chief Risk Officer at KeyCorp and Huntington
Ken Phelan, Oliver Wyman Senior Advisor, Board Member at Huntington and formerly Chief Risk Officer at the U.S. Department of the Treasury, RBS Americas, Fannie Mae, and Wachovia
Scott Bredall, Partner, Risk & Public Policy
Ross Eaton, Partner, Risk & Public Policy
Session Description
Join a webinar hosted by Oliver Wyman, focused on issues Board members and Senior Managers are facing in managing commercial credit during the Pandemic. The discussion will center on issues faced with existing credit decisioning tools and processes as well as highlight approaches to tackle those issues. Topics covered will include:
- Shifting economic landscape due to Covid-19 - impact on commercial/corporate credit: how has the economic lockdown affected corporate credit performance so far? How does this compare to historical experience? What are the expectations for the next few months?
- Responding to the Commercial/Corporate Credit Challenge: What are the key challenges the pandemic poses to banks in their credit processes? What are the emerging best practices in addressing those? What are the execution and reputational risks for banks?
- Navigating the Pandemic: a need for new credit tools: What are the key limitations of traditional approaches in the current context? How to reassess credit scoring and decisioning in a world with rapidly changing epidemiological scenarios and macroeconomic forecasts? How align epidemiological forecasts into existing credit loss forecasting tools?
Operating in a Resiliency Environment: What is the Impact on Regulations, AML and Enforcement Actions?
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Session Description
Join your fellow internal audit and risk professional colleagues for RMA’s Regulatory Compliance Webinar, “Operating in a Resiliency Environment: What is the impact on Regulations, AML and Enforcement Actions.” The complementary webinar, brought to you by RMA’s Internal Audit Council, will consist of three 60-minutes sessions with financial industry risk and audit experts. Attendees will learn about the developments, priorities, and issues organizations are facing in operating in these unprecedented times. Topics will include emerging issues in pandemic event financial crimes, bank supervision and enforcement, and understanding a firm’s operational resilience capabilities. 3.6 CPE credits are available for this webinar.
Agenda
Session 1 - 2:00 P.M. EST to 3:00 P.M. EST
Emerging Issues in Financial Crimes As We Go Through the Current Pandemic Event”
Speakers: Tim Ryan, Managing Director of Adherence, Sheltered Harbor, LLC; Gino Ercolino, Director, Treliant, LLC; Alan K. Halfenger, Managing Director, Treliant, LLC; Paul F Roberts, Jr., Supervisory Special Agent, Federal Bureau of Investigation, New York, NY
Sponsored by: KPMG
Session 2 - 3:00 P.M. EST - 4:00 P.M. EST
What Happens When Compliance Goes Wrong?
Speaker: David Sewell, Counsel, Debevoise & Plimpton, LLP
Session 3 - 4:00 P.M. EST - 5:00 P.M. EST
A New Era of Resilience: Regulatory and Compliance Perspectives on Operational Resilience
Speakers: Douglas (Doug) Wilbert, Managing Director – Risk &Compliance US Operational Resilience Leader / US Capital Markets Leader, Protiviti; Carlo di Florio, Partner & Global Chief Services Officer, ACA Compliance Group; David Cass, Vice President - Cyber & IT Risk, The Federal Reserve Bank of New York Supervision Group; Ihab Dana, US Regional Head of Business Continuity Management, Royal Bank of Canada; Theresa (Terry) Grafenstine, Global Audit Leader for Cyber, Resiliency & Third Parties, Citi
Sponsored by: Protiviti
Part II: Model Risk Management and the Impacts of Covid-19
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David Andrukonis, Managing Director, RiskSpan
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
When we asked the question, “What challenges does the COVID-19 economic shock pose to model risk management?”, we opened the door to many more questions than we could answer on our May 13, 2020 webinar. Clearly this topic is weighing on many people, and we regretted not having the time to respond. So, we’ve asked our experts to present Part II, which will answer the questions from that webinar, and provide time for more Q&A on the topic of model risk management in the time of COVID-19.
Board Room Perspectives: The Great Reopening - Epidemiological Update, Scenarios, and Implications
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Kevin Blakely, Oliver Wyman Senior Advisor, Board Member at HSBC USA and formerly Chief Risk Officer at KeyCorp and Huntington
Helen Leis, Oliver Wyman, Partner, Health & Life Sciences
Gokce Ozcan, Partner, Finance & Risk
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
Join a webinar hosted by Oliver Wyman, focused on issues Board Members and Senior Managers are facing during the Pandemic. Many economies have begun to reopen, but the latest epidemiological data suggests that the road to reopening may be bumpy. Helen Leis, a Partner in our Health & Life Sciences practice, will provide an epidemiological update including the latest data and forecasts from Oliver Wyman’s Pandemic Navigator, as well as share her perspectives on potential suppression scenarios over the coming months. The session will conclude with a discussion on the implications of these potential scenarios on the economy and on corporations as they navigate reopening.
Topics covered will include:
Latest epidemiological update: Economies are re-opening. What do the latest epidemiological data and forecasts suggest in terms of the likelihood of future outbreaks? How does the story vary by country and region? What have we learned about the virus and what remains unknown?
Suppression scenarios: What possible paths could the pandemic take from here and which ones are most likely? What actions can be taken to influence the course? How should corporations be responding?
Implications: Given the great deal of uncertainty that remains, how should corporations be thinking about these scenarios and their responses to them? What recommendations do we have for preparing for the next 6-12 months?
Now, Next, and Beyond in Managing Through the Current Downturn
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Ben Pickering, EY Partner/Principal, Restructuring
Stephanie White Booker, EY Managing Director, Risk
Rob Weniger-Araujo, EY Senior Manager, Capital Management
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
Join RMA and presenters Preston Thompson and Tom Sebekos from E&Y to discuss how to manage your financial institution through the current downturn, including near-term implications like preparing for loan mod/loan workout, and interim-term issues like changes in demand for commercial real estate (especially office space) as well as residential real estate in certain locations – with an eye on valuations and cash flow for property owners who have loans secured by the property. We will also discuss “the beyond” - how do you leverage the data being used to track infection rates and how can it be leveraged from a credit monitoring perspective?
The Post-COVID-19 CRE World: Economics, Theory, and Practice
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Christian Henkel, Senior Director, Moody’s Analytics
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
Where is distress manifesting in commercial real estate performance metrics, and where are we in the so-called post-COVID-19 world given reopening efforts? How has COVID-19 shifted our approach to the reliability of data, the soundness of forecasting, and traditional methods for monitoring and prediction? And how have market participants with skin in the game - not just researchers - reacted to these changes? Which approaches resonated with them and which did they disagree with? Join RMA and Moody’s Analytics Head of Commerical Real Estate Economic, Victor Calanog, and Senior Director, Christian Henkel, for a discussion on economic forecasting, credit risk analysis, and actual case studies with clients - given how the world is struggling to make sense of how things have changed (or not).
COVID 19’s Impact on ALLL (Including CECL): The Role of Internal Audit
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Session Description
Once you have registered through the RMA website you will receive an email to complete your registration for this event in Zoom.
Richard Reynolds, Partner at PWC, will moderate a panel which will discuss the following topics:
CECL will continue to present unique challenges in effectively forecasting macroeconomic conditions. Banks should challenge themselves to determine if the current Reasonable & Supportable and Regression periods are appropriate in the current environment. Economic scenarios will need to reflect the unique profile of each bank and anticipated customer behavior.
Qualitative adjustments to CECL credit loss modeling will be a significant portion of final forecasted results for the immediate future. Proper analysis, documentation, and effective challenge will be required to support these adjustments.
Banks will need to update their models and assumptions to incorporate the impact of COVID-19 in their credit loss forecasts, while considering the lack of meaningful historical data. They will need to assess the impact of unprecedented unemployment rates, government stimulus, and customer forbearance programs.
Similar to CCAR and other areas of critical judgments, the Board of Directors and Senior Management will have an expanded role in the governance of CECL and need to provide more direct effective challenge in the areas of economic forecasting and critical modeling judgments.
The Post-COVID-19 CRE World: Economics, Theory, and Practice
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3:00–4:00 P.M. E.T.
Christian Henkel, Senior Director, Moody’s Analytics
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
Where is distress manifesting in commercial real estate performance metrics, and where are we in the so-called post-COVID-19 world given reopening efforts? How has COVID-19 shifted our approach to the reliability of data, the soundness of forecasting, and traditional methods for monitoring and prediction? And how have market participants with skin in the game - not just researchers - reacted to these changes? Which approaches resonated with them and which did they disagree with? Join RMA and Moody’s Analytics Head of Commerical Real Estate Economic, Victor Calanog, and Senior Director, Christian Henkel, for a discussion on economic forecasting, credit risk analysis, and actual case studies with clients - given how the world is struggling to make sense of how things have changed (or not).
COVID-19: Accelerating Digital Transformation
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Session Description
Once you have registered through the RMA website you will receive an email to complete your registration for this event in Zoom.
COVID-19 has rapidly accelerated the need for financial institutions to transform and respond to unprecedented change in a way that can be labeled as the new normal. Black Swan events in recent months have resulted in global dislocation, impacting how organizations operate in almost every aspect of life. Therefore, financial institutions need to consider an end-to-end approach to strategic initiative governance as fundamental to digital transformation of processes and the application of new technology.
This webinar will provide you with insight into:
- Best practices for investment governance in the digital and technology space during a period of uncertainty and volatility.
- A framework that will help your institution reduce operational, strategic, and transformation risks.
- The creation of a responsive contingency planning framework that can rationalize spending while mitigating risk across multiple lines of business and risk management functions.
- The importance of establishing a standard comprehensive risk management model in terms of governance and overall management.
Speaker Info:
Suraj Nekram, CEO and Co-Founder, Inpensa Software
Inpensa Software is a SaaS provider of end-to-end digital investment governance solutions used by forward-thinking leaders in banking, healthcare, life sciences, technology, and other highly demanding and regulated industries to manage the full lifecycle of strategic initiatives. Before founding Inpensa, Suraj served as a senior finance executive for several organizations, including Bank of America Merrill Lynch, where he was responsible for the integration and prioritization of more than $16b in technology initiatives with a cost take-out mandate of $500m across Bank of America, Merrill Lynch and Countrywide.
Bank Supervision During the “Time of” and Post Crises
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11 A.M. - 12 P.M. E.T.
Session Description
Once you have registered through the RMA website you will receive an email to complete your registration for this event in Zoom.
As the COVID-19 pandemic enters its sixth month, navigating the associated economic and operational challenges has become the “new normal” for financial institutions in the United States. Guidance from the bank regulatory agencies has been helpful but, in many cases, raises as many questions as answers. This practical, interactive panel will discuss, among other topics:
- Current supervisory priorities and recent examination guidance from the federal banking agencies
- Preparing for upcoming examinations: best practices and “do’s and don’ts”
- Loan modifications and workouts in the current environment
- Handling loan forgiveness requests under the Paycheck Protection Program
- Managing pandemic-related compliance and operational risks
The Post-COVID-19 CRE World: Economics, Theory, and Practice
13
3:00–4:00 P.M. E.T.
Christian Henkel, Senior Director, Moody’s Analytics
Session Description
Once you have registered through the RMA website, you will receive an email to complete your registration for this event in Zoom.
Where is distress manifesting in commercial real estate performance metrics, and where are we in the so-called post-COVID-19 world given reopening efforts? How has COVID-19 shifted our approach to the reliability of data, the soundness of forecasting, and traditional methods for monitoring and prediction? And how have market participants with skin in the game - not just researchers - reacted to these changes? Which approaches resonated with them and which did they disagree with? Join RMA and Moody’s Analytics Head of Commerical Real Estate Economic, Victor Calanog, and Senior Director, Christian Henkel, for a discussion on economic forecasting, credit risk analysis, and actual case studies with clients - given how the world is struggling to make sense of how things have changed (or not).
COVID-19: Accelerating Digital Transformation
28
This webinar has ended
Session Description
Once you have registered through the RMA website you will receive an email to complete your registration for this event in Zoom.
COVID-19 has rapidly accelerated the need for financial institutions to transform and respond to unprecedented change in a way that can be labeled as the new normal. Black Swan events in recent months have resulted in global dislocation, impacting how organizations operate in almost every aspect of life. Therefore, financial institutions need to consider an end-to-end approach to strategic initiative governance as fundamental to digital transformation of processes and the application of new technology.
This webinar will provide you with insight into:
- Best practices for investment governance in the digital and technology space during a period of uncertainty and volatility.
- A framework that will help your institution reduce operational, strategic, and transformation risks.
- The creation of a responsive contingency planning framework that can rationalize spending while mitigating risk across multiple lines of business and risk management functions.
- The importance of establishing a standard comprehensive risk management model in terms of governance and overall management.
Speaker Info:
Suraj Nekram, CEO and Co-Founder, Inpensa Software
Inpensa Software is a SaaS provider of end-to-end digital investment governance solutions used by forward-thinking leaders in banking, healthcare, life sciences, technology, and other highly demanding and regulated industries to manage the full lifecycle of strategic initiatives. Before founding Inpensa, Suraj served as a senior finance executive for several organizations, including Bank of America Merrill Lynch, where he was responsible for the integration and prioritization of more than $16b in technology initiatives with a cost take-out mandate of $500m across Bank of America, Merrill Lynch and Countrywide.
