Community bank spending on regulatory compliance continues to increase with the ever-growing number of regulations imposed on the financial service sector. This situation creates a significant challenge, requiring you to constantly evaluate and improve your operations — and not just to keep up with regulations, but also to satisfy rapidly changing consumer expectations.
What is a Risk Assessment?
A risk assessment can help identify critical events that could impact your organization, some of which you may not have taken into consideration. This includes the amount of time needed to recover and restore operations and assessing the likelihood of that event happening, and the severity of the event. If your business doesn't have a Business Continuity Plan for disaster recovery, you can download our templatehere.