Assignment Task:
You have learned about the Risk Management frameworks defined by the OCC and FRB as well as the FRB proposed guidance for Management. You have also now learned about the very specific requirements for Compliance Risk Management.
You have been asked to join the board at Wells Fargo. In this role, you are accountable for overseeing the firm's remediation of the various enforcement actions, including reviewing and ensuring the corrective actions are appropriate and being implemented effectively.
As you prepare for your first board meeting, describe at least five actions you will be looking to see included in the action plans submitted by Wells Fargo to the regulators. It will help to refer to readings from Module 2 in terms of expectations of what controls and oversight should be in place at a Financial Institution.