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Should the board of directors approve and review all the business strategies and policies?


Question: Should the board of directors approve and review all the business strategies and policies?

Answer: The Board is responsible for:
  • Understanding risk limits and setting acceptable ones for the institution's major business activities.
  • Establishing organizational control structure.
  • Making sure senior management identifies, measures, monitors, and controls risks.
  • Monitors internal control adequacy and effectiveness.


    FI Compliance Solutions Boilerplate FI Compliance Solutions, Inc. provides highly-focused risk management solutions for financial institutions. With over 35 years of experience in banking and software development, our solutions are designed to help clients strengthen their risk management programs through web-based software and advisory services. Learn more by visiting www.ficsas.com, or call 610-265-1002, or email us at info@ficsas.com.



    First published on BankersOnline.com 3/14/11









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