The major management challenges represent what we believe to be the areas that, if not addressed, are most likely to hamper the Board’s and the Bureau’s accomplishment of their strategic objectives. We identified these challenges by assessing key themes from our discussions with management and our knowledge of the agencies’ programs and operations.
For the Board, the major management challenges, in order of significance, are as follows:
- Designing and Operationalizing Emergency Lending Programs to Address the Economic Effects of the COVID-19 Pandemic
- Enhancing Organizational Governance and Risk Management
- Enhancing Oversight of Cybersecurity at Supervised Financial Institutions
- Ensuring an Effective Information Security Program
- Strengthening the Human Capital Program and Ensuring Workforce Safety
- Remaining Adaptable to External Developments While Supervising Financial Institutions
- Ensuring That Physical Infrastructure Effectively Meets Mission Needs
For the Bureau, the major management challenges, in order of significance, are as follows:
- Ensuring That an Effective Information Security Program Is in Place
- Managing Human Capital and Ensuring Employee Safety
- Remaining Adaptable to External Developments While Continuing to Refine the Supervision and Enforcement Strategy
- Managing Consumer Complaints
