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Financial Services Law Insights and Observations

OCC releases new Model Risk Management booklet

Agency Rule-Making & Guidance OCC Risk Management Comptroller's Handbook Examination Supervision

Agency Rule-Making & Guidance

On August 18, the OCC issued a new Model Risk Management booklet as part of the Comptroller’s Handbook’s safety and soundness series. The booklet is used by OCC examiners when examining and supervising national banks, federal savings associations, and federal branches and agencies of foreign banking organizations. Among other things, the new booklet (i) outlines model risk management concepts and general principles; (ii) “informs and educates examiners about sound model risk management practices that should be assessed during an examination”; and (iii) “provides information needed to plan and coordinate examinations on model risk management, identify deficient practices, and conduct appropriate follow-up.” The booklet aligns with principals laid out in OCC Bulletin 2011-12 “Sound Practices for Model Risk Management: Supervisory Guidance on Model Risk Management.”

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