Introduction to Mortgage Servicing Examinations Training - March 2023

Internal Use Only

Corporate Governance Evaluate the board of directors for their responsibilities in:

 Establishing a written corporate governance framework  Monitoring and ensuring company compliance with the corporate governance framework

Internal Use Only

Corporate Governance

Board of Directors – What should examiners look for?

Determine board committee structures and delegated responsibility and reporting lines for matters, such as to an audit committee or risk committee.

Review the meeting minutes and supporting materials of those committees for coverage of compliance matters.

Review the annual risk assessment and determine whether the company addressed the risks appropriately.

Review policies and procedures for changes management committed to make following monitoring, audit, and examination findings and recommendations.

Review board or committee consideration of audit matters for coverage of key risks, independence from business functions, and resolution of identified issues.