Don’t look now—we may have made it through the July 4 weekend, but the seas are roiling for banks regulated by the federal Office of the Comptroller of the Currency (OCC). That agency has adopted new “safety and soundness” guidelines which impose important human resources-related obligations on large foreign and domestic banks.
These new guidelines, which apply to banks with average total consolidated assets equal or greater to $50 billion, make talent management, recruitment, succession planning, and compensation practices a focus of covered banks’ boards and senior executive officers. In doing so, the guidelines equally cement the crucial role of banks’ human resources executives in compliance-related functions.
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