Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
FSB recommendation on compensation reporting
The Financial Stability Board (FSB), a Basel, Switzerland-based international body that monitors and makes recommendations concerning the global financial system, has published a public consultation on Recommendations for consistent national reporting of data on the use of compensation tools to address misconduct risk.
The proposed data set included in the Recommendations is designed to help firms and supervisors answer a number of important questions, including whether governance and risk management processes surrounding compensation:
- appropriately include conduct considerations in the design of their compensation and incentive systems, including the setting of individual goals, ex ante performance measurement mechanisms and ex post compensation adjustments;
- support the effective use of compensation tools to help promote good conduct or to remediate individual conduct that is not in line with the firm’s expectations, including holding individuals accountable for any misconduct that occurs;
- promote wider risk management goals, including for conduct issues, consistent with the firm’s strategy and risk tolerance; and
- support the effective identification of emerging misconduct risks and where appropriate, review use of incentive systems and compensation decisions in response to conduct incidents to ensure alignment of incentives, risk and reward.
The FSB has been established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability. It brings together national authorities responsible for financial stability in 24 countries and jurisdictions, international financial institutions, sector-specific international groupings of regulators and supervisors, and committees of central bank experts. The FSB also conducts outreach with 65 other jurisdictions through its six regional consultative groups. The United States is represented by the Board of Governors of the Federal Reserve System, the U.S. Department of the Treasury, and the Securities and Exchange Commission.