Tag: occ

“Deficient Vendor Management Practices” Result in $1.5 Million Fine

A Missouri bank is facing a $1.5 million civil money penalty as part of an OCC enforcement action after allegedly…

OCC Singles Out a Bank Director for Excessive CEO Compensation

It’s not every day that an individual bank director gets called out in a consent order by the Office of…

FDIC Guidance: Model Risk Management of Third-party Vendors

FDIC-regulated banks with more than $1 billion in assets and those that use a model that is “significant, complex, or…

Don’t Confuse Clarity with Forgiveness

In an effort to improve communication between the OCC and bank boards and management, the agency will begin labeling violations…

STOP! Collaborate Cautiously and Listen- The OCC is Back with New Third-Party Risk Management Guidance

Just in time for your summer beach reading, the OCC has released frequently asked questions based on OCC Bulletin 2013-29,…

OCC Vendor Management: What the OCC Really Wants

Third-party risk is a hot button issue for regulators. When a financial institution (FI) outsources an activity to an outside…

OCC: Marketplace Lenders Are Third-Party Vendors

Are marketplace lenders considered third-party vendors? The OCC sure thinks so. In January the agency released exam procedures to supplement…

Does Vendor Size Matter?

Sometimes, but it doesn’t replace the need for vendor risk management Some institutions try to simplify vendor management by picking…

Are You Connecting the Risk Management Dots?

Banks accustomed to thinking of risk management as a point-by-point checklist should take note of the OCC’s Semiannual Risk Perspective…

Documentation is Key: Takeaways from the OCC’s Third-Party Vendor Risk Management Procedures

Ever wish for a list of exactly what an examiner is looking for? When it comes to the Office of…