Social Media Risk Management Process for Banks, Step 2: Processes

Posted by Jenny Watz on June 22, 2017

Social media is no longer considered a passing fad -- it’s now an integral part of the overall marketing strategy for most companies. It’s one of the most cost effective ways to disperse information, engage with audiences and build brand awareness.

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Topics: risk management

Updated Social Media Guidance from the FFIEC: Is Your Bank Still Compliant?

Posted by Emily Lange Rodecker on December 19, 2013

December 2013 – UPDATE:  

Nearly one year after putting out a proposed guidance on social media use for financial institutions, the Federal Financial Institutions Examination Council (FFIEC) issued “Social Media: Consumer Compliance Risk Management Guidance.” This guidance has been adopted by FFIEC member organizations, including the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Federal Reserve Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), the Consumer Financial Protection Bureau (CFPB) (collectively, the Agencies), and the State Liaison Committee (SLC).

These regulatory bodies overseeing financial institutions recognize the importance social media plays in marketing, customer service and audience engagement – but stress the importance of banks, credit unions and savings institutions to remain compliant while participating.

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Topics: Board, Business, CFPB, Compliance, compliance regulationss, consumer compliance, FDIC, FFIEC, NCUA, OCC, risk management, SLC, social media, social media banking, social media compliance, Social Media for Banking, social media regulations

Protect Your Brand from Bad Language

Posted by Emily Lange Rodecker on November 12, 2013

Four letter words. Yuck. You know the ones we mean… that bad language that makes you cringe when you see it coming from the wrong source -- like a brand's Twitter handle. We all like to think that we would never be that social media manager who makes the mistake, but what can you do to really ensure it never happens on YOUR company's accounts?

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Topics: brand damage, Business, compliance, Compliance, compliant social media, filtration, moderation, risk management, secure social media, social branding, social media, social media for business

Risky Business: How to Protect Your Social Media Presence

Posted by Emily Lange Rodecker on May 14, 2013

Social media has a love-hate relationship with risk. You’re encouraged and expected to take some risks by trying new content concepts, playing around with your posting schedule, and developing methods to elicit customer engagement. Being at the mercy of your customers, fans, and followers can be risky indeed – but it can also prove beneficial for your marketing, brand awareness, and customer service efforts.

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Topics: Business, business, facebook, linkedin, risk management, social media, Social Media for Small Business, twitter

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