2.3: Work Environment
Provide a dynamic work environment that is challenging and rewarding. Enhance efficiency and effectiveness, while remaining
sensitive to the burden on supervised institutions, by addressing the supervision function’s procedures, technology, resource
allocation, and staffing issues.
Other Information:
This objective will be pursued in part through the following actions: • Ensure that the Federal Reserve hires and maintains
a qualified staff with the right mix of experience, education, and specialized skills to meet the challenges of a rapidly
evolving banking system. • Coordinate the use of examiners throughout the System to ensure that skill sets, schedules, and
priorities of the staff at all Reserve Banks are aligned. • Use System resources as efficiently as possible. • Harness the
benefits of technology in carrying out responsibilities to improve efficiency and consistency in the supervisory process so
as to effectively manage the increased information needs as required. Seamlessly integrate technology into the supervisory
business process. Discussion The industry’s continued expansion into new activities calls for supervisory tools and staff
that are capable of analyzing individual institutions and various types of risks. Examination staff must have the necessary
authority, skills, and expertise to manage information and reach informed judgments. Greater consistency and coordination
in banking supervision ultimately rely on the ability to access, analyze, and share information in a timely and effective
manner. Technological advances in processing information have brought continued improvements to the effectiveness and efficiency
of bank supervision. These efforts will need to continue, in light of recent laws and regulations that have new information-sharing
requirements.
Indicator(s):
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