Risk assessments are an important tool, not only identifying the risks your institution faces but also what you plan to do to mitigate those risks. There is no right or wrong way to do a risk assessment because no two institutions are exactly the same. There are differences in location, geographical factors, customer base, product offerings, state laws, etc. In other words, you can’t rubber stamp a risk assessment developed for another institution. That said, you do still need to document and support the conclusions reached because the burden of proof is on you.
Jerod explains more in the video.
Published 2026/01/28