Board and Management Oversight

Action Summary

The board of directors and senior management are responsible for developing the institution's e-banking business strategy, which should include:

  • The rationale and strategy for offering e-banking services including informational, transactional, or e-commerce support;
  • A cost-benefit analysis, risk assessment, and due diligence process for evaluating e-banking processing alternatives including third-party providers;
  • Goals and expectations that management can use to measure the e-banking strategy's effectiveness; and
  • Accountability for the development and maintenance of risk management policies and controls to manage e-banking risks and for the audit of e-banking activities

 

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Risk Management of E-Banking Activities
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E-Banking Strategy