Updated Director's Responsibility Guide and Guide to Management Reports

GuidanceOffice of Thrift Supervision (OTS)Disaster Recovery / Business Continuity
Information Security
Risk Management

The Office of Thrift Supervision (OTS) is issuing updated versions of the Directors' Responsibility Guide and the Directors' Guide to Management Reports to highlight our supervisory expectation for a strong, consistent approach towards sound corporate governance practices, as well as the importance of strong, independent boards of directors. The updated Director's Guide adds a new section on statutory and regulatory responsibility and clarifies the issue of blurred lines of responsibility between the board and management. We have also added a chart on the applicability of selected Sarbanes-Oxley requirements. The streamlined, restructured Guide to Management Reports consolidates some existing reports and adds additional red flags to monitor internal controls and financial performance.

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