This is very interesting - I've never requested an IT-ROE report. How can I learn more?
Original Message:
Sent: 12-16-2019 09:27 AM
From: Rosalie Stremple
Subject: TSP Report of Examination Disclosure Statement to Board Members
Re Colleen Jewell-Suiter's post:
Interesting. I have never received the "note to be disclosed to the board" you provided.
When I request and receive an IT-ROE from the OCC, the following statement is included in the email:
This ROE remains the property of the OCC and is provided to you as a courtesy and useful tool in your vendor management process. These ROEs are confidential, and you should only share them with officers, employees or those professionals under contract with the bank. Failure to comply with these confidentially rules can subject you and your bank to penalties under Section 641 of Title 18 of the U.S. Code.
Please acknowledge receipt of the attached Report of Examination and notice of the above confidentiality covenants by responding to this email.
Rosalie Stremple, MS-MIS, CTPRP, CBCP
Vice President, Westfield Bank (Ohio)
Original Message:
Sent: 12-16-2019 02:23 AM
From: Colleen Jewell-Suiter
Subject: TSP Report of Examination Disclosure Statement to Board Members
When I requested our critical vendors most recent examination reports, the FDIC provided the below "note" to be disclosed to our board. I was wondering if anyone else has been given this same "note"? If so, can someone provide clarity about what that disclosure statement is for and the context? Answering more concisely, "Why is the Board looking at that statement?"
Subject: Information Technology Report of Examination Members of the Board:
Your bank requested one or more Technology Service Provider Reports of Examination for which you are a client. The requested Report(s) of Examination is(are) enclosed. If a requested Technology Service Provider Report of Examination is not included, the service provider is not examined regularly by the FDIC or FFIEC.
Basis of Evaluation: In evaluating the operations of these servicers, we depended upon the following sources of information:
- Records and books of the servicer.
- Statements made by the servicer's directors, officers, and employees.
- Other sources believed to be reliable and presumed correct. This evaluation does not diminish direct audit responsibilities of institutions serviced by this organization.
Confidentiality Notice: The information contained in the evaluations is confidential and cannot be disclosed or made public in any manner. Notify us immediately if you receive a subpoena or other legal process document, which calls for the production of this evaluation.