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Identifying Hidden Risks Through Self Assessments
Gary Deutsch

Learn how a self-assessment can identify and prevent risks.

Price: $299.00


This is a virtual event, accessible online and over the phone. Access instructions will be provided after registration.
Identifying Hidden Risks

No one likes surprises, especially if the surprises result in losses for the institution. For instance, consider news reports about a loan manager that committed an $800,000 fraud or a teller who stole $80,000 over a period of years. What if alert employees could have identified fraud risks and helped to implement improved control procedures saving these institutions thousands of dollars?

Fraud isn’t the only issue that could cost institutions. What if a risk assessment could uncover operational errors causing problems for customers? Wouldn’t it be better to discover and correct these errors before they resulted in unhappy customers? Taking preemptive measures to keep customers happy can also help to avoid surprises.

Avoiding losses and having happy customers can also help institutions during regulatory exams. Instead of examiners finding risks that could lead to safety and soundness fines, penalties, or punitive damages, wouldn’t it be better to focus on identifying risks before the examiners visit your institution?

Although institutions conduct risk assessments, the typical assessment methods may not address the hidden risks that lead to fraud or operational errors. Sometimes these hidden risks go unnoticed for years. Often, the risks are only uncovered when an employee notices something unusual or enough customers complain. This reactive approach to risk identification can lead to surprises, losses and regulatory scrutiny. Alternatively, institutions can take a proactive approach to avoid surprises by conducting risk and control self-assessments.

Risk and control self-assessments can help institutions to avoid surprises because the assessment process involves a coordinated approach that includes the employees responsible for daily banking activities and transactions. These are the same employees that might notice unusual activity well after a fraud was committed. These employees may also be the ones that deal with unhappy customers but don’t have management’s attention to recognize a growing customer relations problem.

Please join our expert, Gary Deutsch, CPA MBA, as he discusses how to implement risk and control self-assessments for your institutions. Institutions of all sizes can implement the methods discussed during the presentation. Most importantly, the methods can be instituted quickly and even phased in to fit within any organization structure. It’s not too late to identify hidden risks and avoid surprises!


  • How to select employees to participate in the self-assessment process
  • Methods to identify hidden risks related to the institution’s products, services and activities
  • How to analyze hidden risks and identify current controls, if any, that are in place to protect the institution from losses and regulatory scrutiny
  • How to assess whether the current controls that were identified are effective
  • Methods for documenting control weaknesses and recommending control improvements
  • The process for assigning responsibilities for control improvements and monitoring results
  • How to develop a periodic advisory report for senior management and the Board that summarizes the progress made towards identifying hidden risks and preventing surprises
Price: $299.00



Gary Deutsch


  • Access your training anywhere, with a computer, tablet or smartphone.
  • Engaging and up-to-date training to support your career and your organization.
  • Handouts you can distribute to your board and staff.