OCC Bulletin 2020-97| November 5, 2020

Corporate and Risk Governance: Revised and New Publications in the Director’s Toolkit

To

Chief Executive Officers of All National Banks and Federal Savings Associations; Department and Division Heads; All Examining Personnel; and Other Interested Parties

Summary

The Office of the Comptroller of the Currency (OCC) today issued a revised Director's Book: Role of Directors for National Banks and Federal Savings Associations and the new Director’s Reference Guide to Board Reports and Information. These publications are part of the Director’s Toolkit.

Rescissions

The Director's Book: Role of Directors for National Banks and Federal Savings Associations replaces and rescinds the publication of the same title issued in 2016. The Director’s Reference Guide to Board Reports and Information replaces, rescinds, and combines three publications: Detecting Red Flags in Board Reports—A Guide for Directors, Internal Controls—A Guide for Directors, and Pocket Guide to Detecting Red Flags in Board Reports. These three publications were revised in 2013.

Note for Community Banks

The Director’s Toolkit applies to directors of all national banks and federal savings associations (collectively, banks) to assist directors in fulfilling their corporate governance responsibilities.

Highlights

These publications serve as helpful guides to directors and supplement other OCC publications.

The Director's Book: Role of Directors for National Banks and Federal Savings Associations

  • was revised to include revisions from the “Corporate and Risk Governance” booklet of the Comptroller’s Handbook, issued in July 2019.
  • provides an overview of the OCC.
  • outlines directors’ responsibilities as well as management’s role.
  • explains basic concepts and standards for safe and sound operation of banks.
  • delineates laws and regulations that apply to banks.

The Director’s Reference Guide to Board Reports and Information

  • focuses on key areas of planning, operations, and risk management.
  • is organized to provide examples of sources of information, measures, questions to consider, red flags, and references to directors. The types, amount, and frequency of information that directors should receive to effectively perform their duties vary at each bank and continually evolve.

Further Information

Please contact Caroline Stuart, Governance and Operational Risk Policy Analyst, Operational Risk Division, at (202) 649-6550.

 

Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy

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