Regulatory Expectations of a "Strong Risk" Management Rating
Before the financial crisis, a "satisfactory" risk management program provided assurance of appropriate attention to risks and a balanced investment in risk management infrastructure. To be "satisfactory," a firm needs an acceptable organizational structure and an appropriate risk management framework, including supporting processes. To be considered "strong," a firm needs to add to that list a strong risk culture and an influential and highly effective risk management organization.
Regulators now have higher expectations for risk management. Achieving a "strong" rating is more desirable, but also more difficult. New regulations and directives issued by Congress are putting further strain on financial institutions as they strive to keep up, often with limited personnel. The emphasis on risk management is apparent in government penalties and formal actions resulting from an institution's failed processes, not just violations of law. The speaker will discuss the Office of the Comptroller of the Currency’s thinking around guiding the larger, complex banks towards achieving a “strong” rating, what it means to be “strong” and what some in the industry are finding on their journey to “strong.”
RBS Citizens Financial Group, Wischnowsky Media Center, 13th Floor
One Citizens Plaza, Providence, Rhode Island 02903
Douglas W. Roeder, Managing Director, Financial Services Advisory, PricewaterhouseCoopers LLP
6:00PM - 7:30PM
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For more information, please contact:
Robert K. Fournier, GARP Chapter co-Director and VP, Senior Risk Manager, Finance Division, Citizens Financial Group/RBS America - email@example.com
Margaret W. Burgess, GARP Chapter co-Director and EVP, Head of Risk Re-Engineering, Citizens Financial Group/RBS America - firstname.lastname@example.org