Welcome to the Risk Management Toolbox!

Building a risk management program requires you to have a variety of tools on hand. This toolbox is designed to help financial institutions better mitigate payment risk through Federal Reserve Financial Services (FRFS) information and tools.

This resource center will ask you to choose the area that best represents your role. You will then be guided through a series of potential payment risks challenging institutions like yours.

Let's get started by selecting which area best describes your role.

Operational Risk Management

I measure and manage the operational risks that threaten my institution, such as processing fraudulent payments or possible employee fraud.

Compliance or Audit

I monitor and manage internal and external compliance or audit obligations for my institution, including matters related to payment systems and processes.

Industry insights: Dive into payment risk trends with the FRFS Financial Institution Risk Officer Survey

FRFS polls hundreds of risk management professionals every year to better understand the challenges and market forces they face in the payment services business. The results are then presented with an overview of the key findings on fraud, cybersecurity, operational risk, strategic risk, etc. These findings provide insight into the current and future risk management landscape to help risk officers advocate for improvements across their organizations.

Current survey results:

2024 Key Findings (PDF)

The 2024 survey collected responses from over 360 financial institutions of various sizes across the U.S. This summary focuses on fraud and its associated losses and concludes with financial institutions' perception of risks impacting their risk profile.

Previous survey results and webinars:

The Risk Management Toolbox is not intended to provide business or legal advice, nor is it intended to promote or advocate a specific action, risk mitigation strategy, or product. Readers should consult with their own business and legal advisors. For complete information regarding the products and services outlined in this Risk Management Toolbox, including the related terms and conditions of use, please review the applicable Federal Reserve Bank Operating Circulars and Agreements.