Week of Jan. 30

In This Issue…

ABA survey finds cybersecurity top risk priority for community banks

Cybersecurity will be the top risk priority for most community banks over the next 18 months, with operational risk and compliance risk also high priorities, according to the ABA Banking Risk and Compliance Management 2023 Outlook survey released this week.

The survey also polled banks on their compliance priorities. Most banks rank fair lending as a high compliance priority over the next 12 months, followed by cybersecurity and Bank Secrecy Act/anti-money laundering compliance.

Seventy-four percent of respondents identified cybersecurity as their top risk priority, compared to 64% for operational risk, the second highest-ranked priority. Cybersecurity has become so complex and dynamic that some banks now treat it as separate and distinct from operational risk.

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OBA Bankers’ Night Out programs ready for spring

The dates for the OBA Bankers’ Night Out programs have been finalized. Mark your calendar for the date of the program that’s in your area of the state and plan to attend. Bring your coworkers with you so that everyone can be up to speed on the most recent developments affecting their job. In addition to state and federal legislative updates, the program will include a discussion on the recent developments in your industry.

As in the past, the schedule for each of these meetings is:

5:30 p.m. – Drinks
6:15 p.m. – Program
7 p.m. – Dinner

PRE-REGISTRATION IS REQUIRED. The cost is $50 per person. Click here for a registration form.

Locations and dates for this year’s events are:

  • Tulsa, March 27.
  • Oklahoma City, March 28.
  • Guymon, March 30.
  • Enid, April 6.
  • Krebs, April 10.

Click here to access sponsorship information. Please contact Thi Pham (thi@oba.com) for sponsorship questions.

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Review your bank’s information for OBA directory – deadline this week!

The Oklahoma Bankers Association Directory of Banks is again being produced this year by NFR Communications. To best serve you, we want to include the most up-to-date and accurate information about your bank, your branches and your staff. However, we need your help.

To ensure we are using the most accurate information, please follow the instructions provided in the letter that was mailed to your bank last week by NFR Communications. Please review and revise as necessary the financial directory listing for your holding company, your main bank and your branches. You can also use the login information that was included in the letter to update your listing online or, if needed, download a new form.

For questions and completed forms, please email directories@nfrcom.com. Please update the information no later than Friday, Feb. 3.

We appreciate your help in making the 2023 Edition of the Oklahoma Bankers Association Directory of Banks a success.

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OBA education corner …

It’s cold. It’s too cold to even say something pithy or funny about it being cold. So, while you shiver, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • IRA Annual Reporting Requirements to IRS, Feb. 10, webinar — Although the IRS may never see your bank IRA forms, they will see the results of the contribution and distribution choices and coding when the annual 1099-Rs and 5498s are submitted to the IRS. One of the biggest sources of letters and bills sent out to bank clients is either a mistake made by the bank by incorrect IRS reporting or possibly the client not completing their tax forms correctly. How do we know the difference and who must do the correction?
  • Best-Ever Compliance Checklists for Consumer Loans, Feb. 13, webinar — These colorful and easy-to-use checklists are designed to chronologically lead lenders and processors through the various lending compliance requirements.
  • Building an IT Strategic Plan That Helps You Make Decisions, Feb. 13, webinar — Does your IT strategic plan work for you, or is it just a document that you review once a year? Traditional FFIEC regulatory guidance calls for an IT strategic plan that identifies medium-to-long-term goals and allocations of IT resources over a three-to-five-year time frame.
  • Garnishments of Federal Benefit Payments: What a Banker Needs to Know, Feb. 14, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.
  • Letters of Credit, Feb. 15, webinar — Whether your bank issues letters of credit, accepts letters of credit or takes liens on letter of credit rights, this program is for you.
  • Basic Bankruptcy for Bankers, Feb. 15, webinar — This webinar will introduce you to the world of bankruptcy.
  • Flood Insurance: Compliance Issues and Enforcement Topics, Feb. 16, webinar — A deep examination of the Flood Insurance regulations and new interagency questions and answers. Focus on problematic issues and questions with recommendations for compliant programs.
  • 2023 Call Report Update, Feb. 23, Oklahoma City — This six-hour training will provide information on new, proposed, and revised changes to the Call Report with identification of specific Call Report line items impacting March 2023 and beyond.
  • 2023 Branch Manager Workshop, March 1-2, Oklahoma City — This two-day workshop is packaged full of checklists, job aids, case studies, examples and “real world” situations.

Additionally, the Oklahoma Bankers Association 2023 Senior Management Conference is scheduled for April 2-4 at the Bellagio in Las Vegas. One of the key benefits in the conference will be talking with your peers. Attendees at the OBA 2022 Senior Management Conference will be surrounded by those with similar titles, similar workloads, similar problems and likely solutions to issues that can be just as similar. If you have any questions or want to get signed up, contact the OBA’s education department at 405-424-5252.!

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