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Financial institutions news from around the web: September 12 – 16, 2022

Written on Sep 13, 2022

The five stages of third-party risk management for financial institutions 
An IBM report revealed that the cost of a data breach increased by almost 3% from 2021 to 2022, amounting to $4.35 million. Businesses can take essential steps to minimize their risks. These include IT audits. But first, let's talk about the reasons for third-party risk management. 

ESG risk management for banking 
As the ESG landscape evolves, general counsel, chief legal officers and corporate boards must closely monitor the latest developments to ensure they are aligning their corporate purpose with their business strategy, as well as identifying and mitigating potential risks. 

JPMorgan readies overseas retail expansion with German hiring spree 
JPMorgan plans to hire a team of retail bankers in Germany as the biggest U.S. lender prepares to expand its international consumer business in pursuit of steadier revenue streams. 

How regulations are moving ESG into the risk and compliance field 
New regulatory rule-making around disclosure could push companies and financial services firms to move their ESG activities under the oversight of risk and compliance teams