FOR IMMEDIATE RELEASE
April 12, 2016
Contact: William Grassano
OCC Releases Its Risk Appetite Statement
WASHINGTON — The Office of the Comptroller of the Currency today released its Risk Appetite Statement, which sets boundaries of acceptable levels of risk in key areas of agency operations.
“The OCC’s Risk Appetite Statement is an important step toward more rigorous and transparent risk management for our agency,” said Comptroller of the Currency Thomas J. Curry. “It is a key component to better identification, evaluation, management, and communication of risks to the agency. By clearly articulating the acceptable level of risks within our operations, agency management and employees have clearer signposts by which to guide their decisions, and external stakeholders can better understand OCC actions in the context of the risks facing the agency.”
The Risk Appetite Statement documents the agency’s overall conservative risk appetite. It also states that the OCC will accept more risk in some areas to remain nimble, and can adapt to the changing needs of supervising national banks and federal savings associations. Agency management and employees will use the statement to evaluate their decisions and actions during the course of overseeing national banks and federal savings associations as well as the execution of agency management functions such as human resources, procurement, and information technology.
The Risk Appetite Statement is developed and maintained by the OCC’s Office of Enterprise Risk Management and is approved by the agency’s Enterprise Risk Committee. The agency plans to review and update its Risk Appetite Statement periodically as the federal banking system and its supervision evolve.
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