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Financial Services Law Insights and Observations

OCC releases bank supervision operating plan for fiscal year 2019

Federal Issues OCC Risk Management Bank Secrecy Act Anti-Money Laundering Bank Compliance Privacy/Cyber Risk & Data Security

Federal Issues

On September 26, the OCC’s Committee on Bank Supervision released its bank supervision operating plan (Plan) for fiscal year 2019. The Plan outlines the agency’s supervision priorities and specifically highlights the following supervisory focus areas: (i) cybersecurity and operational resiliency; (ii) commercial and retail credit loan underwriting, concentration risk management, and the allowance for loan and lease losses; (iii) Bank Secrecy Act/anti-money laundering compliance; (iv) change management to address new regulatory requirements; and (v) internal controls and end-to-end processes necessary for product and service delivery.

The annual plan guides the development of supervisory strategies for individual national banks, federal savings associations, federal branches, federal agencies, and service providers.

The OCC will provide updates about these priorities in its Semiannual Risk Perspective, as InfoBytes previously has covered.

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