OCC Heightened Standards (12 CFR Part 30, Appendix D)
II. Standards for the risk governance framework – OCC Heightened Standards (12 CFR Part 30, Appendix D)

OCC Heightened Standards (12 CFR Part 30, Appendix D) II.C.3.(d): Internal audit: Annual independent assessment of the framework

What does II.C.3.(d) require?

Internal audit, which in addition to Appendix A should ensure the framework complies with the Guidelines and suits the bank's size, complexity and risk profile, should establish and adhere to processes for independently assessing the design and ongoing effectiveness of the risk governance framework at least annually, concluding on compliance with the Guidelines; the assessment may be done by internal audit, an external party or both.

Maintained by Gerard BlokdykVerified against the published standard Control text last updated

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