Lexis Nexis Practices and Procedures for Financial Institution Risk Management
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This manual covers the most critical areas on which regulators are focusing examinations, including:
• Setting up a risk management function, organizing for risk management, and appointing a Risk Management Officer (Chapters 1 through 3);
• Evaluating when to purchase insurance to transfer risks (Chapter 4);
• Conducting risk assessments for the entire institution's products, services, and functions consistent with the seven regulatory risk management areas: credit risk, interest rate and market risk, liquidity risk, transaction risk, compliance and legal risk, reputation risk, and strategic risk (Chapter 5); and
• Evaluating preventative measures to help you respond to common risk issues found in examinations that may also impact your institution (Chapters 6 through 11).
As you adopt the practices and programs in this manual, you are likely to uncover risk areas that require additional controls to reduce risks. We suggest that you work closely with your internal and external auditors to determine what controls are the most cost-effective to implement. In addition, for best results, your internal auditor should use a risk based audit approach to audit planning. The risk based audit approach can be coordinated with the risk assessments covered in this manual to optimize the auditor's efforts. You should also coordinate periodic risk assessment updates with the risk based audit planning schedule and the institution's strategic planning sessions to provide for good communications among all institution functions.
The manual also includes more than 100 examples of specific risks, drawn from each of the major risk areas, and includes suggested remedies.
Subscribers will receive a downloadable file containing editable forms.
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Chapters 7A, 9, and 14 reprint material that appears in Risk Assessments for Financial Institutions, also by Gary Deutsch.Editable Documents
The publication subscription includes downloadable files delivered through the LexisNexis® Store download center. The downloadable files include the following features:
• The entire publication is provided in a Folio infobase, offering a robust search engine and the ability to jump from one search match to the next through the entire publication. The Table of Contents for the entire publication can be viewed side-by-side with the text.
• Editable Microsoft® Word files are included in the Folio infobase and can be downloaded and customized. The Word files are fully formatted and will be updated to reflect changes made in corresponding text sections of the publication. Word files are provided for a variety of documents, including exhibits, checklists, sample policies, sample procedures, sample audits, questionnaires, and model forms.
This publication includes editable Word files for the following documents:
No. Title
No. Title
1.4 ABC Bank and Affiliates Vendor Relationship Risk Assessment Form
App1.1 Sample Position Description for Risk Manager
App1.2 Sample Vendor Relationship Management Policy
2.1 Risk Tolerances and List of Management Control Areas Where Risk Must Be Addressed
Ex 2.2: Sample Product/Service Risk Assessment
5.1 Management and Controls Risk Assessment Strategy and Organization
5.2 Policies and Procedures
5.3 Process and Controls/Measurement and Monitoring
5.4 MIS/Reporting
5.1 Risk Assessment Rating Recap Form
5.2 Risk Categories, Definitions, and Examples
5.3 Sample Inherent Risk Survey
5.4 Inherent Risk Survey Form
5.5 Sample Management of Risk Survey
CK6.1 Real Estate Lending Risk Management
CK6.2 Lending Operations Risk Management
CK6.3 Loan Policy Control
CK6.4 Loan Review Controls
CK6.5 Purchased and Brokered Loans Risk
CK6.6 Controls over Past Due and Charge-Off Loans
CK6.7 Troubled Debt Restructurings
CK6.8 Controls over Other Real Estate Owned (OREO)
CK6.9 Foreclosed Property Controls
CK6.10 ALLL Controls
CK6.11 Physical Safeguards over Loan Collateral
CK6.12 Loan Accounting Controls
CK6.13 Compliance with Regulation O and Regulation B
CK6.14 Investor-Owned, One- to Four-Family Residential Properties
CK6.15 Debt Collection Risk Assessment Checklist
WS6.1 Worksheet 6.1: Sample IRR Risk Assessment
6.8 Credit Risk Management Issues and Prevention Measures
7.1 ALM Risk Management
7.2 IRR Risk Management
7.3 Establishment of Other Frameworks
7.4 Funds Management
7.5 Securities Investment Risks
7.6 Trading Risks
7.7 Treasury Management and Funds Management Risk Assessment Checklist
7.8 IRR Analysis and Reporting Risk Assessment
7.9 Derivatives Risk Assessment
7.1 Base Case Interest Rate Assumption
7.2 Interest Rate Scenarios
8.1 Sample Correspondent Bank Concentration Policy
8.2 Liquidity Risk Management Issues and Prevention Measures
8.1 Liquidity Management Risk Assessment
8.2 Investment Management Risk Assessment
8.3 Correspondent Banking Risk Assessment Checklist
8.4 Capital Management Risk Assessment
8A.1 Primary Regulator: FDIC Regulations Applicable to State Nonmember Banks
8A.2 Capital for Market Risk Cross References to Regulatory Documents for Banks Regulated by the FDIC
8A.3 Primary Regulator: Office of the Comptroller of the Currency Regulations Applicable to National Banks
8A.4 Capital for Market Risk Cross References to Regulatory Documents for Banks Regulated by the FDIC
8A.5 Primary Regulator: Federal Reserve Board Regulations Applicable to State Member Banks
8A.6 Capital for Market Risk
8A.7 Regulations Applying Specifically to the Bank Holding Company
9.2 Pandemic Preparedness Actions for HR Departments
9.3 Risk Chart
9.1 Technology and Operational Risk Controls Checklist
9.2 EDP Risk
9.3 Control Over Wire Transfer Environment Checklist
9.4 Deposit Operations Controls Checklist
9.5 Information Security (IS) Controls Checklist
9.1 Sample Blank Technology and Operations Risk Assessment
9.2 Business Risk Assessment
9.3 Technology Risk Assessment
9.4 Retail Payment Systems Risk Assessment
9.5 Retail Payment Systems Internal Controls Risk Assessment
9.6 Data Confidentiality and Privacy
9.7 Risk Assessment of a Cloud Computing Implementation
CK9A.1 Remote Deposit Capture (RDC) Legal Issues
CK9A.2 Mobile RDC Risk Assessments Checklist
10.1 Sample ABC Finance Compliance Review Procedures for Bank Secrecy Act
10.2 Risk Assessment and Fraud
10.3 Assessing Shell Company Risks
10.2 Fraud Risk Assessment Matrix
10.4 Sample Security Risk Assessment
CK11.1 Payroll Controls Risk Assessment
CK11.2 Purchasing Controls Risk Assessment
CK11.3 Receiving Controls Risk Assessment
CK11.4 Accounts Payable Controls Risk Assessment
CK11.5 Cash Disbursement Controls Risk Assessment
CK11.6 Asset Controls Risk Assessment
CK11.7 General Ledger Controls Risk Assessment
CK11.8 Income Tax Accounting Controls Risk Assessment
CK11.9 Computer Program Controls Risk Assessment
CK11.10 Trust Accounting Controls Risk Assessment
CK11.11 Financial Reporting Accuracy after a Disaster Strikes
13.1 Human Resources Strategic Planning Checklist
13.2 Checklist for the Review of Director Duties and Responsibilities
13.3 Checklists of Internal Control Considerations for Derivatives Activities
13.4 Outside Vendor Internal and External Risk Review Checklists
13.5.1 THE GLBA RISK ASSESSMENT PROCESS
13.5.2 INSTRUCTIONS FOR COMPLETING THE GLBA INFORMATION SECURITY RISK ASSESSMENT
15.5.3 III. SYSTEMS AND INFORMATION INVENTORY
13.5.4 IV. INFORMATION ASSET CLASSIFICATION
13.5.5 V. POSSIBLE THREATS
13.5.6 VI. INFORMATION SECURITY INPUT SHEET WITH ASSET CLASSIFICATION
13.5.7 VII. SAMPLE INFORMATION SECURITY RISK ASSESSMENT INPUT WITH ASSET CLASSIFICATION
13.5.8 VIII. RISK MATRIX
13.5.9 IX. INFORMATION SECURITY RISK ASSESSMENT SUMMARY
13.5.10 X. RISK MITIGATION ACTION PLAN
13.5.11 XI. IS RISK AND ADMINISTRATIVE ISSUES
13.6 Credit Management Controls Checklist
13.7 Interest Rate Risk Internal Control Checklist
13.8.1 Sample Compliance Risk-Assessment Matrix
13.9 UDAAP Risk Assessment Program
14.1 Information Technology Audit Checklist
14.2 Sample Audit Committee Charter
14.3 Sample Internal Audit Charter
14.4 Risk Management Action Plan Worksheet
14.5 Outsourcing Responsibilities Checklist
14.6 Sample Audit-Planning Questionnaire
14.7 Sample Memos
14.8 Sample Audit Plan Template
14.9 Time Report Worksheet
14.10 Pre-Audit Self-Assessment Questionnaire
14.11 Sample Charter for an Audit Committee Authority
14.12 Questions to Be Considered in Evaluating an Internal Control Structure within a Financial Institution
14.13 Checklist for Internal Controls
1.4 ABC Bank and Affiliates Vendor Relationship Risk Assessment Form
App1.1 Sample Position Description for Risk Manager
App1.2 Sample Vendor Relationship Management Policy
2.1 Risk Tolerances and List of Management Control Areas Where Risk Must Be Addressed
Exhibit 2.2 Sample Product/Service Risk Assessment
5.1 Management and Controls Risk Assessment Strategy and Organization
5.2 Policies and Procedures
5.3 Process and Controls/Measurement and Monitoring
5.4 MIS/Reporting
5.1 Risk Assessment Rating Recap Form
5.2 Risk Categories, Definitions, and Examples
5.3 Sample Inherent Risk Survey
5.4 Inherent Risk Survey Form
5.5 Sample Management of Risk Survey
CK6.9 Foreclosed Property Controls
CK6.10 ALLL Controls
CK6.1 Real Estate Lending Risk Management
CK6.2 Lending Operations Risk Management
CK6.3 Loan Policy Control
CK6.4 Loan Review Controls
CK6.5 Purchased and Brokered Loans Risk
CK6.6 Controls over Past Due and Charge-Off Loans
CK6.7 Troubled Debt Restructurings
CK6.8 Controls over Other Real Estate Owned (OREO)
CK6.9 Foreclosed Property Controls
CK6.10 ALLL Controls
CK6.11 Physical Safeguards over Loan Collateral
CK6.12 Loan Accounting Controls
CK6.13 Compliance with Regulation O and Regulation B
CK6.14 Investor-Owned, One- to Four-Family Residential Properties
CK6.15 Debt Collection Risk Assessment Checklist
WS6.1 Worksheet 6.1: Sample IRR Risk Assessment
6.8 Credit Risk Management Issues and Prevention Measures
7.1 ALM Risk Management
7.2 IRR Risk Management
7.3 Establishment of Other Frameworks
7.4 Funds Management
7.5 Securities Investment Risks
Table of contents
Chapter 1: Organizing for Risk Management
Chapter 1A: Establishing an Internal Control Framework and Guidelines
Chapter 1B: Assessing the Institution’s Internal Control Systems
Chapter 1C: Conducting ERM Risk Assessments
Chapter 2: Establishing a Risk Management Program Policy
Chapter 3: Sample Risk Assessment Report
Chapter 4: Assessing Your Insurance Management Program
Chapter 4A: Evaluating Consumer Compliance Risk
Chapter 5: Conducting Overall Risk Assessment Surveys
Chapter 6: Evaluating Your Credit Risk Management Program
Chapter 6A: ACH Risk Management Program
Chapter 7: Evaluating Your Interest Rate Risk Management Program
Chapter 8: Evaluating Your Liquidity Risk Management Program
Chapter 8A: Providing Capital for Market Risk
Chapter 8B: Identifying Capital Management Planning Risk
Chapter 8C: Stress Testing to Manage Credit Risk and Preserve Capital
Chapter 8D: Assessing Safety and Soundness Compliance in the Lending Function
Chapter 9: Evaluating Your Technology and Operations Risk Management Program
Chapter 9A: Risk Management of Remote Deposit Capture
Chapter 10: Evaluating Your Security Risk Management Program
Chapter 10A: Assessing Fraud Risks
Chapter 11: Evaluating Your Accounting Risk Management Program
Chapter 12: Risk Assessment of Sound Practices for Model Risk Management
