The Federal Deposit Insurance Corporation (FDIC) announced the approval of a plan to establish the Office of Corporate Risk Management to assess external and internal risks faced by the bank regulator. The plan was approved today by the FDIC board of directors.
“By creating a central risk office, the FDIC is adopting a current best practice in the financial industry and will build upon its existing commitment to careful risk management within the corporation. This change will enhance the agency’s existing practices, while incorporating key lessons from both the public and private sector into the FDIC’s approach to risk management,” said Martin Gruenberg, acting chairman of the agency.
