Examiners expect all financial institutions to conduct, and document a comprehensive, ongoing, institution-wide risk assessment. The Risk Assessment evaluates and rates inherent risk, the quality of controls and residual risk. Benchmarks are provided for each rating for each factor. The UDAAP Risk Assessment provides a framework upon which the risk related to the legal and regulatory requirements that form the basis of Unfair, Deceptive, and Abusive Acts or Practices is evaluated.
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