Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#451469 - 11/02/05 07:49 PM aggregated risk assesment
Simply Sheldon Offline
Diamond Poster
Simply Sheldon
Joined: Oct 2005
Posts: 2,047
S.E. TX
Do regulators, in my case the OCC, expect all risk assessments to be aggregated. We are just starting to do risk assessments and management doesn't think a total score is important, but all my research on risk assessment indicates that I should. Is it just up to what I think will be sufficient?

Return to Top
Operations Compliance
#451470 - 11/02/05 09:41 PM Re: aggregated risk assesment
blvsinangels Offline
Gold Star
Joined: Aug 2003
Posts: 372
We do a weighted risk assessment. Our primary is the FDIC, they like to see the numbers!!

Return to Top
#451471 - 11/03/05 03:32 PM Re: aggregated risk assesment
The Incredible ComplyGuy Offline
Power Poster
The Incredible ComplyGuy
Joined: Sep 2005
Posts: 7,350
The he11 of suburbia
Based on my experience in dealing with the OCC and Fed I would say definitely yes. I am in the corporate compliance group of a very large institution, and am in the process of getting all of our LOB compliance teams on a common risk assessment tool. From my perspective I want to be able to see aggregated information, whether or not the regulators pushed for it -- I believe it is important for our Head of Compliance to be able to view the "state of compliance" across all LOBs and across regs in order to more effectively manage the department, report to the board & senior management, and allocate resources. And it's not really about a "total score." One compliance risk number for the institution doesn't really tell you anything. The importance is being able to "slice and dice" the information across the company to spot trends and weak spots. The bigger and more complex the institution, the more important this is (but also the more difficult it is).

Return to Top
#451472 - 11/03/05 07:21 PM Re: aggregated risk assesment
Simply Sheldon Offline
Diamond Poster
Simply Sheldon
Joined: Oct 2005
Posts: 2,047
S.E. TX
Thanks ComplyGuyMAye

Return to Top

Moderator:  Andy_Z, John Burnett