An occurrence that has caused or is likely to cause a financial, customer or reputational loss to the group
What is an Event
100
The four issue classifications
What are Major, Significant, Important and Minor
100
GIA
What is Group Internal Audit
100
The risk that negative publicity regarding business practices, whether true or not, will cause a decline in the customer base, costly litigation or revenue reductions
What is Reputational Risk
100
This regulation places limits and stipulations on the credit extension that a member bank can offer to its executive officers, principal shareholders and directors.
What is Reg O
200
An application that was developed outside of a formal IT department
What is a EUDA
200
Put these lines of defense in order: Group Internal Audit (GIA), You, Risk Management
What is
1. You
2. Risk Management
3. Group Internal Audit
200
EtP
What is Exception to Policy
200
The risk of material loss, reputation damage liability arising from violations or nonconformance with the laws, regulations, regulatory expectations, ethical standards or contractual obligations
What is Regulatory Risk
200
What Act was created to repeal the Glass-Steagall Act?
What is GLBA (Gramm-Leach-Bliley Financial Services Modernization Act)
300
These ensure that we have the proper check and balance in place in our processes to reduce risk
What is a Control
300
They are accountable for owning and developing the risk and control frameworks and tools that we use to manage risk.
Who are Operational Risk
300
FCRA
What is Fair Credit Reporting Act
300
4 types are contained in this risk, Processes, People, Systems and Assets
What is Operational Risk
300
Most of the requirements imposed by the 1968 Truth in Lending Act are contained within this regulation
What is Reg Z
400
Spreadsheets, databases, automated forms/macros are types of what (when speaking in risk terms)
What are types of EUDA's
400
A risk that management intends to reduce to an exposure level that is acceptable to the business
What is an ORC issue
400
EUDA
What is End User Developed Application
400
The risk that a borrower will not pay a loan as called for in the original loan agreement and may eventually default on the obligation
What is Credit Risk
400
Why FCRA was passed
What is what is to ensure fairness, accuracy and privacy of personal information contained in the files of the credit reporting agencies
500
Investors are protected from the possibility of fraudulent accounting activities by corporations since the passing of this Act in 2002
What is SOX
500
They provide independent assurance over the key risks to the organization, which includes an assessment of the entire control framework.
Who are Group Internal Audit
500
SOX
What is Sarbanes-Oxley
500
This risk includes operational risk and external risk and is defined as the risk of direct or indirect loss resulting from inadequate or failed internal processes, people, systems and assets, or from external risks
What is Enterprise Risk
500
What does FCRA regulate
What is the collection of credit information and access to your credit report