Director's Book: Role of Directors for National Banks and ...

November 2020

DIRECTOR'S BOOK Role of Directors for National Banks and Federal Savings Associations

DIRECTOR'S BOOK Role of Directors for National Banks and Federal Savings Associations

Office of the Comptroller of the Currency November 2020

Director's Book Role of Directors for National Banks and Federal Savings Associations

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Contents

Preface...........................................................................................................1

OCC's Bank Supervision Organizational Structure................................3 Midsize and Community Banks...........................................................3 Large Banks.........................................................................................4 Trust Banks..........................................................................................4

Full-Scope, On-Site Examination Requirement and Supervisory Activities....................................................................... 5

OCC's Risk-Based Supervision Approach................................................7 Regulatory Ratings...............................................................................8 Communication....................................................................................8 Appeals Process.................................................................................10

Resources....................................................................................................12 OCC Resources..................................................................................12 Other Resources.................................................................................12

Corporate Governance..............................................................................14 Board's Role in Corporate Governance.............................................14 Board Composition, Qualifications, and Selection.......................15 Leadership Structure of the Board................................................18 Outside Advisors and Advisory Directors.....................................18 Board and Board Committee Meeting Minutes............................19 Access to Senior Management and Staff.......................................20 Director Orientation and Training.................................................21 Board Compensation.....................................................................22 Board Tenure.................................................................................22 Board's Responsibilities................................................................22 Provide Oversight.....................................................................24 Establish an Appropriate Corporate Culture............................25 Code of Ethics..........................................................................26 Comply With Fiduciary Duties and the Law............................27 Select, Retain, and Oversee Management................................28 Succession Planning.................................................................30 Oversee Compensation and Benefits Arrangements................31 Incentive Compensation...........................................................32 Employee Benefits....................................................................33 Maintain Appropriate Affiliate and Holding Company Relationships........................................................34 Establish and Maintain an Appropriate Board Structure..........35 Perform Board Self-Assessments.............................................36

Office of the Comptroller of the Currency

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