Justification Memo Post Exam Survey - Compliance

Federal Deposit Insurance Corporation

550 17th Street NW, Washington, D.C. 20429-9990

550 17th Street NW, Washington, D.C. 20429-9990

June 11, 2019

 

Memorandum to: William E. Bestani

Policy Analyst

Office of Information and Regulatory Affairs

Office of Management and Budget

Executive Office of the President                            

                                    

From: Manny Cabeza

Regulatory Counsel

Assessments and Legislation Group

Legal Division

Federal Deposit Insurance Corporation      

     

RE: FDIC 2019 Post-Examination Survey (Compliance Examination)

Under FDIC’s “fast-track” generic clearance entitled “Occasional Qualitative Surveys” (3064-0127), the FDIC hereby submits for OMB review the generic survey “FDIC 2019 Post-Examination Survey (Compliance Examination).” This survey will be transmitted to each financial institution after FDIC’s completion of a Compliance examination to obtain feedback from these financial institutions regarding the compliance examination process. The survey will be sent to a senior bank official after the examination is conducted.

The purpose of the survey is to gauge bankers’ views on the effectiveness and quality of the compliance examination, as well as to identify ways to improve the examination process.

Bankers will be asked to rate the efficiency of the pre-examination process; examiners’ professionalism and their understanding of the laws and regulations; the compliance examination process; and compliance examination report quality. Bankers will also be allowed to provide feedback on any areas for improvement and will be given an option to have someone from the FDIC Office of the Ombudsman confidentially contact the institution about its recent examination or any other matters.

The FDIC estimates that there will be approximately 84 responses per quarter based on examination’s historical data.

Annual Estimated Number of respondents: 337

Estimated Time per response: 45 minutes

Total Estimated Annual Burden: 253 hours

Total estimated annual burden for the collection of this information is 253 hours. If you have any questions, please let me know. Thank you for your consideration.