{"id":9826,"date":"2022-04-18T20:33:22","date_gmt":"2022-04-18T20:33:22","guid":{"rendered":"https:\/\/zhorse.net\/?p=9826"},"modified":"2022-04-18T22:25:41","modified_gmt":"2022-04-18T22:25:41","slug":"small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively","status":"publish","type":"post","link":"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/","title":{"rendered":"Small Banks Can Strengthen Risk Management Simply, Easily and Cost Effectively\ufffc"},"content":{"rendered":"\n

For many community banks risk management<\/strong> costs can eat up more and more of the annual budget.  There is a way to quickly strengthen risk management and not increase the budget at the same time.  It also just happens to be something that all stakeholders will appreciate even if they don\u2019t notice the impact.<\/p>\n\n\n\n

Yes, we are talking about Policy Risk Management and four easy steps any bank can take regardless of budget, staffing or other limitations. Follow these four simple steps and immediately strengthen your risk management infrastructure and engage more employees in managing risks.<\/p>\n\n\n\n

  1. Assign key policies an owner.<\/strong> This person will ensure that policies are written (or updated), vetted and approved annually. More importantly, this person will also assure that policies and procedures are synched.<\/li>
  2. Reconcile policies to procedures and processes.<\/strong> There is no need to wait for an internal or external audit to highlight gaps.  The policy owner can do this timely.<\/li>
  3. Leverage training tools.<\/strong> Each policy can be supported through webinars, podcasts, self-paced training or formal training. Use all the tools available and use them often.<\/li>
  4. Ensure that Quality Control tests controls often so that policy adherence is confirmed.<\/strong> This will promote understanding and highlight gaps that can be addressed before problems arise.<\/li><\/ol>\n\n\n\n

    These four simple steps will add vigor to your risk management process and is a real confidence boost for stakeholders.<\/p>\n","protected":false},"excerpt":{"rendered":"

    For many community banks risk management costs can eat up more and more of the annual budget.  There is a way to quickly strengthen risk management and not increase the budget at the same time.  It also just happens to […]<\/p>\n","protected":false},"author":4,"featured_media":9829,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"class_list":["post-9826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-risk-management"],"yoast_head":"\nSmall Banks Can Strengthen Risk Management Simply, Easily and Cost Effectively\ufffc - Z Horse - GRC Software<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Small Banks Can Strengthen Risk Management Simply, Easily and Cost Effectively\ufffc - Z Horse - GRC Software\" \/>\n<meta property=\"og:description\" content=\"For many community banks risk management costs can eat up more and more of the annual budget.  There is a way to quickly strengthen risk management and not increase the budget at the same time.  It also just happens to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\" \/>\n<meta property=\"og:site_name\" content=\"Z Horse - GRC Software\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZHorseGRC\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-18T20:33:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-18T22:25:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zhorse.net\/wp-content\/uploads\/2022\/04\/pexels-cottonbro-3943719-1-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1366\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Daniel Clark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZHorseGRC\" \/>\n<meta name=\"twitter:site\" content=\"@ZHorseGRC\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Daniel Clark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\"},\"author\":{\"name\":\"Daniel Clark\",\"@id\":\"https:\/\/zhorse.net\/#\/schema\/person\/e79985ab46d090fdf552ca89d0450a83\"},\"headline\":\"Small Banks Can Strengthen Risk Management Simply, Easily and Cost Effectively\ufffc\",\"datePublished\":\"2022-04-18T20:33:22+00:00\",\"dateModified\":\"2022-04-18T22:25:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\"},\"wordCount\":243,\"publisher\":{\"@id\":\"https:\/\/zhorse.net\/#organization\"},\"image\":{\"@id\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/zhorse.net\/wp-content\/uploads\/2022\/04\/pexels-cottonbro-3943719-1-scaled.jpg\",\"articleSection\":[\"Risk Management\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\",\"url\":\"https:\/\/zhorse.net\/risk-management\/small-banks-can-strengthen-risk-management-simply-easily-and-cost-effectively\/\",\"name\":\"Small Banks Can Strengthen Risk Management Simply, Easily and Cost Effectively\ufffc - 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