ACA Spotlight Blog

ACA Spotlight Blog

Risk and compliance alerts, insights, and resources for financial services firms
 

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Bank Asset Management

 

OCC Supervision Priorities and Objectives for 2021
October 23, 2020
The OCC's Committee on Bank Supervision recently released the agency’s supervision priorities and objectives for fiscal year 2021. We summarized what trust companies' and bank asset managers' should ensure are adequately covered by risk, compliance, and internal audit.
OCC Announces Civil Money Penalty for Vendor Management Control Deficiencies
October 15, 2020
The Office of the Comptroller of the Currency recently assessed a $60 million civil money penalty for a bank's failure to exercise proper oversight of the 2016 decommissioning of two U.S. wealth management business data centers.
OCC's Semiannual Risk Perspective: What Bank Asset Managers Should Know
May 29, 2019
The Office of the Comptroller of the Currency (“OCC”) recently issued its Spring 2019 Semiannual Risk Perspective, a recurring report of key risk areas and emerging threats to the federal banking system that are monitored by the OCC's National Risk Committee. In this blog post, we summarize the risk areas that impact banking asset management groups, and operational risk, strategic risk, and BSA/AML.