Comments
The Compliance Risk of Social Media
Newest First  |  Oldest First  |  Threaded View
MrJesseTorres
50%
50%
MrJesseTorres,
User Rank: Apprentice
1/31/2013 | 7:00:03 AM
re: The Compliance Risk of Social Media
Hope these tools help:

Social Media Risk Assessment:-áhttp://socialmediabanking.blog...

Social Media Policy:-áhttp://socialmediabanking.blog...

Social Media Training Tool:http://www.amazon.com/exec/obi...
Byurcan
50%
50%
Byurcan,
User Rank: Author
1/30/2013 | 3:32:29 PM
re: The Compliance Risk of Social Media
-áProbably not worrying about it too seriously now, but when concrete regulations come up around the use of social media, they will.
Cara Latham
50%
50%
Cara Latham,
User Rank: Apprentice
1/30/2013 | 1:34:59 PM
re: The Compliance Risk of Social Media
I agree with Bryan -- the social media compliance officer type of position has evolved in other industries. But even elsewhere, say pharmaceuticals, for example, the guidelines released by governing bodies are just as broad as the FFIEC proposed guidelines seem to be, so these new social compliance officers will have to rely on innovation and best practices and a strong understanding of the Truth in Savings Act and other laws to navigate this growing area of concern.
FritzNelson
50%
50%
FritzNelson,
User Rank: Apprentice
1/30/2013 | 1:01:25 AM
re: The Compliance Risk of Social Media
How serious do you think financial services firms are taking this? The guidelines don't seem to amount to much more than "be careful" and "don't violate existing government regulations." I wonder if, like with most other things, institutions will only be forced to take action after something bad happens, or laws are passed with more than just guidelines (likely BECAUSE something bad happens).
Byurcan
50%
50%
Byurcan,
User Rank: Author
1/29/2013 | 8:14:11 PM
re: The Compliance Risk of Social Media
-áYes, I do think this will eventually lead to a "social media compliance officer" type of position.
IvySchmerken
50%
50%
IvySchmerken,
User Rank: Author
1/29/2013 | 8:05:42 PM
re: The Compliance Risk of Social Media
This is quite interesting. Do you think risk management for social media will become a new field of specialization within financial services? But the notion of banning FS employees from accessing social media on their mobile phones, seems to contradict the point of social media.


Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Dec. 2, 2014
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.