Start Date: 12/7/2022 1:00 PM MST
End Date: 12/7/2022 2:30 PM MST
Ultimate responsibility for your institution’s risk-management program lies with your board of directors. Examiners will evaluate the overall effectiveness of management and the board by analyzing:
- Board and senior management oversight
- Policies, procedures, and limits
- Risk monitoring and management information systems
- Internal controls
To facilitate this review, examiners will look at reports and minutes from board and subcommittee meetings to confirm whether management is effectively communicating with the board and that the board has appropriate oversight over risk management, compliance, operations, and financials. Therefore, receiving clear, concise, complete information is critical to a board’s decision-making.