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• W47572371 abstract "The president and the senior managers of Federal National Bank have gathered in the boardroom to formally hear the findings of the of national bank examiners who have been in the bank for the last month or so. The bankers have already begun to form an impression of the team's exam, through short briefings or consultations held throughout the process, but this large meeting is where everything gets tied together. At the request of the Comptroller's Office, the real names of examiners and bankers involved in the examination recounted here have been changed. The name and certain identifying features of the bank have likewise been disguised. Our thanks to all parties cooperating in the article. Frank Higgins, the examinerin-charge, has been joined by his boss, Doug Johnson, head of the OCC's area duty station, as well as two of the three examiners who assisted him in the exam. Higgins opens by complimenting the bank for improvements made in response to past OCC examiners' criticisms. A former banker himself, Higgins adds, Hopefully we were a little less intrusive than usual. In response, William Rodgers, the bank's president, notes that this was very much the case. There was much less time spent with me and with other members of the bank's staff, says Rodgers. This has probably been the most enjoyable exam in a while. 'Little less intrusive?' 'Enjoyable exam ?' What's wrong with this picture? We'll return to Federal National Bank's boardroom, but first, here's what came before. Rethinking small-bank exams Last fall, the Comptroller's Office rolled out new examination procedures for community banks that, by design, lean more toward performance rather than procedure. The new procedures apply to those banks deemed noncomplex. In broad terms, CAMEL 1- or 2-rated banks operating under stable conditions and under management that has previously been judged responsive in meeting the bank's risks. Additionally, noncomplex banks must be consistently strong financial performers and not handle more than a few nontraditional products. Typically noncomplex banks are $100 million or less in assets; Federal National is about $95 million in assets. OCC estimates that 1,700 banks meet these criteria. Those that do will be examined under a different set of procedures than other community banks. The new procedures are intended to stress performance over documentation and policies, though it isn't true, as some have understood it, that examiners won't pay any attention to formal policies. The changes are also intended to reduce the burden that examinations place on smaller banks. For example, the procedures require smaller loan samples than are typically used in OCC examinations. Unless the examiner finds cause, the portion of commercial loans selected for review will never exceed 30%. Overall, the new procedures reduce the number of items examiners are required to review in each area of the safety-and-soundness examination. The checklists they use are much shorter than for traditional examinations. While this examination is Federal National Bank's first experience with the new procedures, it's also a fairly new experience to the OCC examining the bank. The veteran member of the team, Herb Wheatley has been on two such exams before; 'the rest of the four-man has taken part in just one noncomplex exam each. Because this is a streamlined exam, the is smaller than would otherwise be used for such a bank. An exam at the same bank in 1993, by contrast, used seven examiners, including one compliance specialist, and 1992's exam was performed by a ten-member training team consisting of five examiners and five trainees. Only 15 working days have been scheduled for the 1994 exam. In a preliminary meeting with bank president William Rodgers, acting examiner-in-charge Frank Higgins explains the new approach. …" @default.
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• W47572371 title "Test-Driving OCC's Streamlined Exam" @default.
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