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How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.


Reminder on use of appraisal management companies

The OCC has issued Bulletin 2019-43 to remind banks that engage appraisal management companies (AMCs) of the new registration requirement for AMCs that became effective on August 10, 2019. Under this requirement, AMCs must register with the state or states in which they do business and must be subject to state supervision. Federal law bars AMCs from providing appraisal management services to financial institutions for consumer credit transactions secured by a consumer’s principal dwelling that are federally related transactions if the AMCs are not registered as required. The bulletin discusses considerations for banks with regard to confirming AMC registration as part of sound third-party risk management and suggests alternatives that banks can use when no registered AMCs are available.

The OCC's rules on banks' use of AMCs can be found in 12 CFR 34, subpart H. The same requirements are included in the Federal Reserve Board's Regulation H, subpart E, and the FDIC's requirements are found in 12 CFR 323 subpart B.

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