On September 14, 2016, the US Office of the Comptroller of the Currency released its bank supervision operating plan for fiscal year (FY) 2017. The plan sets forth the foundation for policy initiatives and for supervisory strategies applicable to individual banks. OCC staff members will use this plan to guide their supervisory priorities, planning and resource allocations.
Of note, the agency indicated that it will focus on Bank Secrecy Act/anti-money laundering compliance management in 2017. Additional supervisory strategies for FY 2017 will focus on: (i) commercial and retail loan underwriting; (ii) business model sustainability and viability; (iii) operational resiliency; and (iv) change management processes to address new regulatory requirements.
The OCC will provide periodic updates about supervisory priorities through the Semiannual Risk Perspective in the spring and fall of 2017, and with a mid-cycle operating plan status report in the third quarter of FY 2017.
The OCC’s Fiscal Year 2017 Operating Plan is available at: http://www.occ.gov/news-issuances/news-releases/2016/nr-occ- 2016-112a.pdf.