CFPB Readiness Series: Making Risk Assessment Work For You
Once you’ve determined that you need to undergo a CFPB audit, conducting a risk assessment enables you to find and address gaps before the audit begins. What is a Risk Assessment and Why Should I Care? A risk assessment is a systematic process of evaluating the potential risks that may be involved in a projected activity or undertaking. It involves evaluating operational, compliance, and reputational risks. Aside from being mandated…