Developing a QA/QC Program Within the Trust Division

Credit Reporting Agencies are the backbone of our nation’s lending practices, as the information they deliver about a consumer’s financial profile often determines the terms of any loan and whether an application is approved. In normal times, as a best practice, banks and other financial institutions regularly furnish customer data to those agencies, also known as credit bureaus – but they maintain autonomy on what they furnish and to which agency.

In late March, several Spinnaker team members participated in ABA Risk 2021, both as panelists and attendees. This premier risk conference from the American Bankers Association combines enterprise risk management, insurance risk management and risk quantification, while delivering expert takes on current and emerging threats along with best practices.

Have you ever experienced that moment of frustration when you realize a project nearing final implementation does not meet your expectations? Everyone started on the same page, but somewhere along the way, the project team deviated from what you were expecting. Consider inserting a checkpoint, called a “planning tollgate”, to explicitly review and approve the project team’s proposed solution prior to the beginning of project delivery. Here are a few reasons why a planning tollgate makes sense: