Checking for risks of all levels is critical during a bank branch risk assessment. The internal audit measures the total number of threats present and their potential impact on your institution based on categories like transactions, products, customers, employees, services and locations. The assessment should also account for fraud risk and regulatory compliance requirements.
When conducting a risk assessment, sort each risk into a category, such as products and services, location and customer risks. Then, rank the risks based on their potential effect on your institution. For example, some areas present risks due to a higher prevalence of crimes, or insufficient staffing at the branch may result in customer complaints.