Monday, September 26, 2022

Week of Sept. 12

In This Issue…

Agencies reaffirm commitment to Basel III standards

Federal bank regulatory agencies reaffirmed their commitment late last week to implementing enhanced regulatory capital requirements that align with the final set of “Basel III” standards issued by the Basel Committee on Banking Supervision in December 2017.

The implementation of these standards for large banking organizations would strengthen the resilience of the domestic banking system and is a priority for the agencies, according to their joint press release on Friday.

The agencies plan to seek public input on the new capital standards for large banking organizations and are currently developing a joint proposed rule for issuance as soon as possible. Community banking organizations, which are subject to different capital requirements, would not be impacted by the proposal.

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OCC announces chief climate risk officer

The Office of the Comptroller of the Currency earlier this week announced the appointment of Dr. Yue (Nina) Chen as chief climate risk officer.

Dr. Chen will lead the agency’s climate risk efforts related to supervision, policy and external engagement. She will oversee the activities of the OCC’s Office of Climate Risk and report directly to the acting Comptroller of the Currency. Under Chen’s leadership, the OCC will continue to focus on the development and implementation of climate risk management frameworks for the federal banking system.

Chen previously served as the inaugural executive deputy superintendent of the Climate Division at the New York State Department of Financial Services and was responsible for integrating climate-related financial risks into supervision of regulated entities. She also served as the vice-chair of the Climate Risk Steering Group at the International Association of Insurance Supervisors.

Before joining DFS, Chen served as the director of conservation investments at the Nature Conservancy. She has also held positions in asset management at Goldman Sachs and as vice president at Royal Bank of Canada Global Arbitrage and Trading.

She follows Jonathan Fink in this role, who assumed these duties in an acting capacity in March 2022 while also serving as senior advisor to the acting Comptroller.

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Deadline this week to apply for Emerging Leaders Academy

Take note the OBA 2022-23 Emerging Leaders Academy is currently accepting applications, with the deadline rapidly approaching on Thursday.

We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through non-traditional methods.

The OBA extends an invitation to any employee of a bank that is a member of the OBA to apply. A panel of bankers will review the applicants and choose those accepted into the Academy (maximum 30 bankers). Participants must attend all sessions to successfully graduate from the program.

There are six sessions to the Academy: Nov. 9, Dec. 8, Jan. 27, Feb. 22, March 24, April 28. Graduation will take place in May 2023 at the OBA Annual Convention.

Click here to apply! Again, the deadline for applications is Thursday, Sept. 15. Also, for more information, please contact Megan McGuire at (405) 424-5252 or megan@oba.com.

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OBA Oktoberfest Golf Tournament set for Oct. 24

Show off your golfing skills or simply join your banking peers as a social registrant at the 2022 OBA Oktoberfest Golf Tournament on Oct. 24 at River Oaks Golf Club in Edmond.

The tournament fee is $150 and the registration deadline is Oct. 20. The tournament will begin with registration and lunch. Immediately following the tournament, we will hold an awards ceremony. Sign up now to reserve your spot. We hope to see you on the course!

Not golfing? Join your banking peers as a social attendee for lunch, refreshments and fellowship on the patio. Social attendee registration fee is $50.

Click here to access the registration form. If you are interested in sponsorship opportunities, contact Thi Pham.

Tournament Schedule
10 a.m. — Registration
11 a.m. — Lunch

12 p.m. — Shotgun Start
Immediately Following Golf — Awards

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Final week to order 2023 OBA calendars

The order deadline for 2023 Oklahoma Views & Vistas Calendar is Thursday, so get your bank’s request in today!

Click here (.pdf) to download an order form and get them secured for your bank before the deadline passes!

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OBA welcomes new strategic member

The OBA would like to extend a welcome to a new strategic member:

Mercadien Financials Institutions Services Group

Mercadien is dedicated to helping financial institutions across the nation manage risk, maintain compliance and increase profitability with a sophisticated, best-practice approach based on extensive experience and top credentials in the banking and regulatory compliance sectors. The Group provides a multitude of cost-effective services to clients across the nation, including outsourced internal audit, regulatory compliance reviews, enterprise risk management, BSA/AML
validation, loan reviews and consulting.

CONTACT INFORMATION:

Melissa Correa (lives in Oklahoma City)
3625 Quakerbridge Road
Hamilton, N.J.  08619
Phone: (609) 689-9700 Cell: (915) 861-1564
Email: mcorrea@mercadien.com
Website: www.mercadien.com
https://www.mercadien.com/industries-we-serve/financial-institutions-consulting-services/

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OBA education corner …

CSome of us were able to open windows over the weekend! Does that mean autumn is here?!

Well … about that. Prepare to sweat if you’re watching the college football game of your choice this weekend on the patio or otherwise outside. But just because the Oklahoma weather can’t make up its mind, doesn’t mean you can’t when trying to decide what continuing education courses to take! Look at what the OBA has to offer:

  • Vendor Management – Due Diligence and Compliance Requirements, Sept. 21, webinar — This webinar features an in-depth discussion of vendor management and due diligence requirements. It also includes a review of compliance requirements when dealing with third parties, including compliance program expectations of regulators.
  • Loan Documentation 101: Basic Secured Loan Documentation, Sept. 21, webinar — Learn about basic loan documentation principles and practices under Revised Article 9 for collateral.
  • Loan Documentation 101: Lien Perfection, Business Collateral, Sept. 22, webinar — Learn about specific classifications of collateral and language description requirements for UCC-1s and security agreements.
  • Endorsements A to Z, Sept. 22, webinar — Having an understanding of endorsements and handling checks is crucial to making sound check cashing decision. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item.
  • Best-Ever Compliance Checklists for Commercial Loans, Sept. 27, webinar — This colorful checklist, patterned after the popular Best-Ever Consumer Checklists, will guide bankers through those traps and ensure compliance.
  • Wage and Hour Basics, Sept. 28, webinar — At the core of HR compliance is knowing how to pay your employees within the bounds of the law. Join to review basic (and some not-so-basic) wage and hour law concepts that will help you spot issues to avoid problems.
  • Being Strategic with Base Compensation for Non-Executive Positions, Sept. 28, webinar — This webinar focuses on performance-based compensation approaches that community and regional banks should consider to attract and motivate staff level employees and officers. In this webinar we discuss keys to having an effective salary administration program, performance management and staff level and producer cash incentive plans.
  • Escrows, Sept. 29, webinar — This webinar will give you a clear understanding of how to set up and maintain compliant escrow accounts in plain English.
  • SARs and Cyber Crimes, Sept. 30, webinar — During the webinar, you will review line-by-line the text fields and requirements to complete the SAR. There are fields for cybercrimes, notes to FinCEN and narrative instructions.
  • Real Estate Lending Compliance, Oct. 11-12, Oklahoma City — Every year major changes appear and this year is no exception. Big changes are pending with Fair Lending, Regulation B and flood insurance. The program and the manual have been completely updated for these rules.
  • 2022 Annual Advanced BSA/AML Compliance Update, Oct. 25-Tulsa; Oct. 26-Oklahoma City — Be sure and register for this timely, one-day AML/BSA program which provides current trends and tools for today’s BSA Officers and BSA team members. This program also assists financial institutions in meeting the annual training requirements by the BSA regulations.

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