Consumer financial products and services continue to evolve, driving credit
unions to innovate to keep pace with the competition. As such, how your credit
union collects, processes, analyzes, and disseminates information is as critical
to the bottom line as the revenue generated by any new product or service. Prior
to launching a new product or service, a thorough assessment of the types and
measurements of risk must be addressed to align with enterprise risk tolerance.
This webinar will detail best-practice product and service controls through the
product lifecycle, due diligence pitfalls and post-mitigation solutions to
ensure inspection meets expectation.
product and service risk compared and measured against back-end controls
Seven stages of the product life cycle (Federal Reserve framework)
- Recommended assessment process for new product and service offerings
- Development of a formal change management control process
- Product and
service post-implementation strategies supporting sustained due diligence
Brian Vitale, NCCO, CAMS-Audit, Compliance Advisory Services