Risk Management

In the early- to mid-1900s, banking and excitement went together, well … like water and oil.

It’s hard to imagine anything lucky about a data breach affecting more than 100 million customers.

From rising customer expectations, to digital disruption, to threats from non-traditional competitors, the same forces that reshape the banking industry demand new thinking and approaches from risk management teams.

Risk management professionals are voracious data consumers.

For all the fears and hand wringing sparked by the Great Recession, banks have weathered few if any financial tremors since it faded into the rear view.

Technology tends to charge ahead of most other industries, and Facebook’s recent enormous data security breaches are no exception.

For years, financial institutions have found themselves in the headlines as a result of an ethics, compliance or risk breach.

It seems the number of data breaches jumps every year, with a 48 percent increase from 2016 to 2017 alone.

Miguel Cervantes wasn’t a banker.