What is missing? | Disaster Recovery Planning

With all of the focus on Cybersecurity in IT these days I think it is important to not forget about your disaster planning.  A cyber-event can definitely be considered a disaster and sometimes your Disaster Recovery Plan (DRP) could save you from a cyber-event but I want to talk about a basic element of a… Read more »

ISACA | State of Cybersecurity Survey

ISACA recently released results from the annual global State of Cybersecurity Survey conducted last October.  A total of 2,366 individuals with a Certified Information Security Manager (CISM) and/or Cybersecurity Nexus Practitioner (CSX Practitioner) participated in the 2017 survey.  The results were not earth shattering but some were of interest. From a threat landscape perspective, the… Read more »

Who’s On First? | What is team building and why is it important? 

We most commonly think of teams in the context of sporting events. We watch the players run, hit, skate, or shoot, all within the prescribed timeline of a game or period, and at the end of the game, someone wins, and someone loses.  A team consists of a group of individuals working together to achieve… Read more »

Regulatory Update: What to Expect from your Examiners in 2018

For the third year running, I have had the opportunity to participate in the Virginia Bankers Association’s Operations & Technology Conference, this year as part of the consolidated VBA Protect Conference, on the “What to Expect from your Regulators” panel. It’s always fun and interesting to forecast hot-button topics but as with any forward looking… Read more »

Back to Basics: Protecting the Perimeter

The past several articles in the Back to Basics series have addressed controls inside the network—passwords, user management, and mobile device security. But even the best of these controls are for naught without strength at the perimeter of your network. Today we consider ways to minimize cybersecurity risk to your organization’s system from the outside… Read more »

Related Party Transactions

As calendar year-end audit season moves into full swing, you can expect to receive a request from your audit firm for your related party listing. Related parties can sometimes be a topic of confusion and gray area.  While judgment may still be required when applying the standards to your entity, hopefully the overview below will… Read more »

Tax Cuts & Job Act | Congress Passes 2017 Tax Reform

The Tax Cuts and Jobs Act has been approved by Congress and signed by President Trump. While the tax reform bill has seen various modifications and transformations, it now appears it has reached it’s final form as it was signed into law by President Trump December 22, 2017. updated 12/29/17   |   updated 12/27/17 Learn More… Read more »

What Tax Changes Will Mean for Banks | Tax Planning for Rate Reduction

Financial Statement Impact While a tax rate reduction is beneficial long term, the immediate impact will likely be a charge to the income statement for most banks. This is because a net deferred tax asset (“DTA”) carried on the balance sheet must be re-measured to carry the DTA at the lower enacted tax rate that… Read more »

Community Banking Industry Update | Q3 2017

This Q3 update covers FASB, FASB Effective Date Calendar, Regulatory updates and YHB News. Click Here to Download About Your Community Bank Team Our large Community Bank Services Team, which includes dozens of dedicated professionals, focuses exclusively on serving financial institutions of all sizes. In addition to more than 50 years of experience in serving banks throughout the… Read more »

Equifax | When the bad guys have everything, what do we do next?

We have all become accustomed to hearing about Cybersecurity Breaches but this one may be the Mother of all Breaches.  The latest estimate, released October 2, is that 145.5Million people were impacted by the breach.  So almost half of America has had their Social Security Number compromised. When a credit bureau is breached to this… Read more »