Tackling the first step, "Identify and Understand Major Risks," can sometimes be intimidating, so it is always helpful to ID a few common problem areas faced by most FIs. Below are some of the most common risks we see while working with our members:
Processing Content
internal fraud
external fraud
member or client interactions
financial products
business practice
damage to physical plant
business interruption
system failures
execution and delivery of commitments
process management
employment practices
workplace safety
