The Office of the Comptroller of the Currency ("OCC") outlined an operating plan for bank supervision in fiscal year 2018. The plan identifies priority objectives and serves as a guide for the development of supervisory strategies for banks.
The plan will act as the foundation for policy initiatives and the establishment of individual plans for the National Risk Committee, Large Bank Supervision, Midsize and Community Bank Supervision, Compliance and Community Affairs, the Office of the Chief National Bank Examiner and the supervision of technology service providers. Supervisory efforts will concentrate on the following areas:
- cybersecurity and operational resiliency;
- commercial and retail credit loan underwriting, concentration risk management, and the allowance for loan and lease losses;
- business model sustainability and viability and strategy changes;
- Bank Secrecy Act/anti-money laundering ("BSA/AML") compliance management; and
- management processes for implementing new regulatory requirements.
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