The FDIC is stepping up its internal risk management practices. On December 8th, the FDIC announced formation of the Office of Corporate Risk Management under the leadership of Stephen Quick, the Chief Risk officer for the FDIC.
Formation of the 15-person office follows what the FDIC considers a “best practice” among banks and will allow the FDIC to better manage risks for the Corporation within the financial industry. These risks include the recent financial crisis, changes in regulation of the industry, and changes within the banking industry itself.
For more information, the FDIC issued a press release describing the new office.