A booklet issued by the FFIEC discusses on determining whether an institution effectively identifies and controls development and acquisition risks. Without identifying the risks, there is the possibility of loss from inadequate processes, personnel, or systems then lead to errors, fraud, or an inability to deliver products or services, maintain a competitive position, or manage information.
This is helpful for institutions or credit unions to be aware of their management, procedures, and controls and TCFS & Associates are enriched with services that can help your company maintain operations effectively and efficiently. Connect with TCFS & Associates and read more to gain information on development and acquisition.