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Board Report: 2018-SR-B-013 September 5, 2018

Knowledge Management for the Board’s Comprehensive Liquidity Analysis and Review Is Generally Effective and Can Be Further Enhanced

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The Board and Reserve Banks assess an aspect of the financial resiliency of each of the largest, most complex financial firms under Board supervision through the Comprehensive Liquidity Analysis and Review program. We assessed the effectiveness of the CLAR program's knowledge management processes and practices.

We determined that CLAR's knowledge management approach generally aligns with leading practices—it is part of the program's culture, encouraged by leadership, reinforced in policies, and enabled by technology. We also found that knowledge related to supervisory findings and emerging risks is effectively preserved. Even so, knowledge management within the program can be further enhanced. Increasing program employees' awareness of time dedicated to speak with management regarding the rationale for supervisory decisions would improve the program's transparency. In addition, formalizing onboarding and better documenting meetings would reduce learning curves and help ensure historical program knowledge is preserved over time.

This report contains recommendations to further enhance these practices throughout the CLAR program.