Reviewing the OCC Bulletin 2019-11 reminds us of how time can test the strength of fundamentals. The FFIEC Policy Statement on the Report of Examination rescinds the “Interagency Policy Statement on the Uniform Core Report of Examination” issued October 1, 1993. The OCC Examining Bulletin 1993-7 is rescinded as well. The updates focus on how the FFIEC Report of Examinations are documented and presented. Yes, the rescinded documents were issued in 1993.
To get a process right from the beginning requires various degrees of time, attention, understanding, and effort.
- Time and attention can be in short supply for most organizations.
- Understanding and effort tend to become subjective and open to frequent change.
But when a solid, fundamental structure is built, for even a seemingly simple process, it can outlast and outperform expectations. In return, time and effort is saved and attention can be placed on higher priorities, thus improving efficiencies.
Our products and services underscore the importance of building on a solid foundation. Change can be good. Getting it right from the beginning is even better.
Let’s talk about your TPRM program. Is it fundamentally solid or a constant source of revision and change? We are ready to help, and we welcome the opportunity to start a conversation. Contact us today.