Description
Join us for a discussion on the uses of social media for banks and credit unions and learn how to identify and mitigate the associated risks.
Background
Social media has become an integral part of people's lives and has changed the way companies do business. It can be used to expand business relationships and attract new customers. However, as regulated entities, financial institutions need to exercise caution when utilizing this technology since it comes with legal, compliance and reputational risks.
For example, marketing traditional banking products or dealing with customer complaints via social media need to be handled carefully, especially in the current regulatory environment in which regulators are issuing record enforcement actions and fines. Federal financial regulators have taken notice of the unique online risks and in January the Federal Financial Institutions Examination Council (FFIEC) released proposed guidance governing social media use by banks, credit unions and non-banks supervised by the Consumer Financial Protection Bureau. This proposed guidance discusses risk management guidelines for consumer interactions via social media, including necessary policies, procedures, training, and governance.
Agenda
Join us for a discussion on the uses of social media for banks and credit unions and learn how to identify and mitigate the associated risks. By attending, you’ll be better equipped to:
• Understand how financial firms (and their employees) use social media via Facebook, Twitter, LinkedIn, etc.
• Review the pitfalls of social media and specific examples of how it may impact financial institutions (including those who do not even actively pursue a social media profile)
• Identify related legal, regulatory and reputational risks for internal and external communications
• Develop a plan on how to best utilize this technology based on the opportunities and the risks
• Implement and adopt a comprehensive compliance program for social media use
Benefits
This is an exceptional opportunity for marketing managers, information security personnel, human resources officials, general counsel and compliance officers to learn how any financial institution can ensure their social media activities comply with federal consumer protection and compliance requirements proposed by the FFIEC and the ongoing regulations as it relates to online activities. This session can provide you with the tools to:
• organize resources within your organization
• put together a social media team that can create a strategic business plan around social media
• utilize a social medial business plan to drive revenue for your organization
• develop a comprehensive risk management program that ensures ongoing compliance with laws and regulations
• avoid penalties, enforcement actions, customer complaints and other financial losses
Who Should Attend
• Marketing Managers
• Social Media managers
• General Counsel
• Information Security
• Human Resources
• Compliance officers