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Banking executives discuss overseeing emerging risks and accelerating digital transformation while grappling with credit and reputational risk through the COVID-19 crisis

On June 2 and 8, Bank Governance Leadership Network (BGLN) participants joined two virtual meetings to continue discussions around the COVID-19 pandemic and implications for large bank operations, technology, and credit, conduct, and reputational risks. The key themes that emerged include:

·         As digital transformation has accelerated, new risks have emerged

The COVID-19 crisis has forced banks and their customers to use digital tools and processes to compensate for branch, office, and call center closures. Participants discussed moving more quickly to the cloud and expanding the use of AI, the acceleration of internal processes, and the related cyber and operational risks they have accepted in the short term, and what may persist over the longer term.

·         Persistent uncertainty continues to challenge forecasting

The unprecedented steps taken to control the pandemic, the delayed effects on some sectors, and the continuing uncertainty about global economic recovery forecasts compound the challenge for banks trying to model the impact on their customers and portfolios.

·         Banking models and reputations will be tested

      Participants discussed the risks for banks as government programs to support individuals and companies through the COVID-19 pandemic expire and the financial impact of the pandemic and economic shutdowns catch up with more customers. 

Read the full ViewPoints here.

Board and audit committee oversight of COVID-19 pandemic response and recovery

From April 14 to April 30, 2020, Tapestry Networks convened a series of virtual meetings with the audit committee chairs of more than 100 large US public companies, to discuss how boards and audit committees are responding to the COVID-19 pandemic. EY experts and senior leaders joined the audit chairs in these meetings.

Tapestry Networks published two earlier special editions of ViewPoints based upon similar meetings from March 24–April 11. This third special edition synthesizes discussions about two issues and offers questions for reflection.

  • Charting the path to a ‘new normal’ as employees return to work

  • Assessing supply and demand uncertainty as companies restart their businesses

Read the full ViewPoints here.

The Cyber Risk Director Network

Private sector wants more — and better — cybersecurity cooperation with government

Morning Consult is a global technology company revolutionizing ways to collect, organize, and share survey research data to transform how decisions are made.

On March 9, 2020, Morning Consult published an Op-Ed written by Jonathan Day and Michael Mahoney of Tapestry Networks. The piece highlights the need for better coordination between the government and corporations on dealing with emerging and evolving cybersecurity threats. 

Read the Op-Ed in full.

Highlights: Assessing the results of the diagnostic quality assurance pilot


In May 2019, Tapestry and members and liaisons of the multistakeholder Steering Committee (SC), which oversees the progress of the diagnostic quality assurance pilot, met to discuss the pilot’s results. Since its launch in 2016, the pilot has aimed to create a process to compare the performance of molecular diagnostic tests that are used for selection of targeted therapies, using a test case of a next generation sequencing (NGS) diagnostic for a specific targeted cancer treatment. Earlier this year, 18 volunteer laboratories returned data to the pilot’s technical implementation team at the College of American Pathologists, marking an end to the pilot testing phase. The data compared performance of laboratories’ validated tests with specifications set by an FDA-approved companion diagnostic (CDx).  


During the May meeting, the CAP’s Scientific Technical Working Group (STWG) leadership presented a summary of the dataset and lessons learned from implementing the pilot. Collectively, the STWG representatives and SC discussed the results’ technical implications, and their meaning for various stakeholders and SC members’ organizations.  Moving forward, SC members are committed to sharing outcomes later in 2019 through a peer-reviewed technical publication, a white paper, and, potentially, through other mediums. Read more here

Upcoming meetings

Audit Committee Leadership Summit

September 2020



Southwest Audit Committee Network 

September 2020



Northeast Audit Committee Network

September 2020



Central Audit Committee Network

September 2020



Cyber Risk Director Network

September 2020



Financial Services Leadership Network

September 2020



Welcome To Tapestry

Tapestry is pleased to announce our newest partner, Marsha Ershaghi Hames. Marsha is a certified compliance and ethics professional. 

Prior to joining Tapestry, Marsha was a managing director of strategy and development at LRN, Inc. a global governance, risk and compliance firm where she specialized in the alignment of leaders and organizations for effective corporate governance and organizational culture transformation. She has been interviewed and cited by the media including CNBC, CNN, Ethisphere, HR Magazine, Compliance Week, The FCPA Report,, Chief Learning Officer, ATD Talent & Development, Corporate Counsel Magazine, the Society of Corporate Compliance and Ethics and more. She hosted the “PRINCIPLED” Podcast, profiling the stories of some of the top transformational leaders in business.

Marsha joins Tapestry's corporate governance practice. Welcome, Marsha!


Recent Publications

Accelerating digital transformation while grappling with credit and reputational risks

Bank Governance Leadership Network, June 2020

Read more here

Sustainability and purpose in banking

Bank Governance Leadership Network, April 2020

Read more here.

Shareholder activism

European Audit Committee Leadership Network, April 2020

Read more here

Private sector wants more — and better — cybersecurity cooperation with government

An Op-Ed from Morning Consult, March 2020

Read more here

Dialogue with Ralf Bose and Alain Deckers on Audit Committee Realities

European Audit Committee Leadership Network, February 2020

Read more here

Corporate purpose and the post-global world

Compensation Committee Leadership Network, December 2019

Read more here