International Training & Assistance (ITA)
for Bank Supervisors
Principles of Fiduciary Supervision
Federal Reserve System Courses
October 9 - October 12, 2018 (New York, NY)
Type of Participant Targeted
Principles of Fiduciary Supervision is designed for assistant or commissioned examiners with limited to no fiduciary examination experience. It is expected that attendees will participate in fiduciary examinations upon completion of the course. This course may also be useful to supervisory managers or staff with fiduciary industry experience, but limited examination experience, and other supervisory staff that need a general understanding of the fiduciary business.
Course Overview
This course will introduce fiduciary concepts and risk management practices common to the fiduciary industry by focusing on particular fiduciary business activities. These activities include personal trust, charitable trusts/foundations/endowments, employee benefit/retirement services, trust operations, asset management, and corporate trust, as well as agency relationships with a focus on non-complex institutions. After completing this course, participants should be able to identify significant fiduciary risks and related supervisory issues.
Course Objectives
After completing this 4-1/2-day course, participants will be able to
- Assess the impact of fiduciary activities on the financial institution and apply the uniform interagency trust rating system
- Evaluate compliance with governing laws and fiduciary principles, including conflicts of interest
- Appraise capability of management to identify, measure, and control risks of fiduciary activities
- Analyze operations and internal controls and assess adequacy of audit coverage of fiduciary activities
- Appraise the adequacy of processes related to investment of funds, including unique asset holdings and non-traditional investment products and services
- Identify risks in fiduciary activities and assess the adequacy of risk management practices