Press Release – New Whitepaper from Banking Expert Samuel Smith
Nationally recognized firm Firestorm Solutions today announced the release of a new White Paper titled, “A CONUNDRUM, PERSPECTIVES ON BANKING AND RISK MANAGEMENT” by Samuel Smith
Atlanta, Georgia 10/28/2011
Press Release: Firestorm White Paper Explores the role risk and crisis management have in today’s economic climate for financial institutions— Speech by Samuel D. Smith urges a commitment to identify and mitigate risk and realistically test recovery and crisis management communications plans.
Nationally recognized firm Firestorm Solutions today announced the release of a new White Paper titled, “A CONUNDRUM, PERSPECTIVES ON BANKING AND RISK MANAGEMENT” by Samuel Smith.
The White Paper asserts that, in the current environment, failure to mitigate evolving threats and to have an effective program to gracefully recover from a disaster, including both “Black Swan” events and local outages, can virtually lead to failure of a banking franchise. It goes on to say that it is not a matter if a significant event will happen but when.
Further, business continuity management includes identifying and mitigating threats, developing a plan for recovering from a disaster, testing plans and managing recovery when a disaster strikes.
Firestorm COO Jim Satterfield states: “Sam Smith’s white paper offers valuable insights into emerging critical risks and explains the role crisis management has in the financial community today. He provides clarity to the chaos impacting every financial institution. While his insights here focus on the banking and finance world, the principles apply to all businesses.”
White paper and speech author Samuel Smith’s perspectives were gained through more than ten years of experience leading this function as senior vice president at the Federal Reserve Bank of Cleveland, and as a banking consultant.
This White Paper includes best practices, valuable lessons learned from his years of direct experience, and a case study. The case study shows the financial impact on the Return on Equity and Assets caused by a service disruption, placing the case study bank in crisis and causing increased regulatory engagement in operations.
The views expressed are Samuel Smith’s and are not those of the Federal Reserve System. Mr. Smith is a member of Firestorm’s Expert Council™, and his insights align to the Firestorm Predict. Plan. Perform.® process.
About Samuel Smith
Sam Smith is a banking consultant and president of Pinales Consulting, LLC of Evergreen, Colorado. He currently advises bank directors and officers on issues of policy and management, and, as an Expert Council member of Firestorm, he provides business continuity consulting to its clients.
Mr. Smith retired from the Federal Reserve Bank of Cleveland in 2007 as senior vice president, a post he held for 21 years. His 37 year Federal Reserve career began at the Federal Reserve Bank of Atlanta, which he joined in 1970 after serving as a Naval Officer in Vietnam. To Read more about Mr. Smith, please visit http://www.firestorm.com/samuel%2Dsmith/
Firestorm Solutions is a recognized leader in business continuity, vulnerability analysis, risk mitigation and crisis management. Staffed by attorneys, engineers, physicians, law enforcement professionals, psychologists and many other talented individuals, Firestorm Principals work directly with their Expert Council on behalf of clients. Firestorm brings years of expertise to the analysis and planning process. They provide extensive expertise in security, governance, insurance, human resources, crisis communications and media relations. For more information, visit Firestorm at http://www.firestorm.com
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