Social Media The Risks and the Rewards – ON-DEMAND WEBINARS

Date Recorded: June 21, 2021

Presenter: Anetria Cohen, Vice President and Senior Consultant, FORVIS

A two-hour webinar focusing on the concerns that engaging in social media can raise.

Social media is relatively easy, inexpensive, and can reach a wide array of people and potential customers, and thereby can be a wonderful advertising/marketing and relationship tool for financial institutions. Yet it can also bring a great amount of risk – compliance, legal, and reputational. The chance that institutions may violate laws or make other errors is high, along with the potential for complaints to be publicly broadcasted, for accounts to be hacked, and a response to a media campaign to go wrong.

This webinar will review agency guidance on social media and consumer compliance risk management, as well as a number of other practical issues and concerns. We will look at the definition of social media, what laws may apply (advertising/marketing, UDAP/UDAAP, along with others), and examples of various risks that are raised, including potential employment/employee issues.

HERE IS WHAT YOU WILL LEARN:

• FFIEC social media guidance
• Compliance, legal, and reputational risks
  • Assessing and managing your risk
• Tips and best practices to manage social media
• Importance of policies, supervision, and training