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Entries in risk management (3)


FFIEC Proposes Compliance and Risk Management Guidance for Social Media Use

The Federal Financial Institutions Examination Council (“FFIEC”) has issued proposed guidance on compliance issues and risk management in the use of social media (the "Proposed Guidance"). The term "social media" as used in the Proposed Guidance applies to "interactive online communication" where users "generate and share content." (i.e., Facebook, Yelp, LinkedIn, YouTube, etc.) Financial institutions are increasingly using social media to generate new business and develop stronger relationships with customers. The Proposed Guidance is intended to assist financial institutions in identifying and addressing potential areas of risk, including compliance, legal, operational and reputational risk...

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OCC Issues Guidance for Community Bank Stress Testing

On October 18, 2012, the Office of the Comptroller of the Currency (OCC) issued stress testing guidance for national banks and federal savings associations with total assets of $10 billion or less (community banks). Stress testing is essentially the process of analyzing and determining the possible effects that events (such as a sudden economic downturn) might have on a bank, its loan portfolio, and its earnings and capital. Dodd-Frank required that banks with assets greater than $10 billion engage in comprehensive stress testing at least annually pursuant to regulatory guidance issued earlier this year. The Guidance makes clear that the OCC expects community banks to follow suit, although under somewhat less rigorous standards.

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FDIC forms Office of Corporate Risk Management

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.

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