Due Diligence and Ongoing Monitoring

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  • 1.  Due Diligence on public government-sponsored enterprises

    Posted 12-04-2020 08:28 AM
    Hello everyone!

    I'm wondering how you handle due diligence for vendors like, The Federal Home Loan Mortgage Corporation (Freddie Mac).  
    We're thinking it would be very hard to get any type of due diligence from them and leaning towards making them exempt from oversight requirements due to the fact they are a public government-sponsored enterprise.

    Thoughts and suggestions?
    Thank you!


  • 2.  RE: Due Diligence on public government-sponsored enterprises

    Posted 12-04-2020 09:21 AM
    The great thing about public enterprises is that everything is available- its the magnitude of documentation that can be overwhelming due to the amount of regulation and oversight they are subject to. One risk factor we consider is the amount of regulation an organization is subject to.  We may exempt an organization from certain requirements based on the amount of regulatory oversight they are subject to.  One report I do like however specifically for regulated financial institutions is the FFIEC TSP report.
    For Freddie Mac, similar to other public companies, you can get allot of information from their investor relations portal on their website.​Freddie Mac Investor Relations
    Original Message


  • 3.  RE: Due Diligence on public government-sponsored enterprises

    Posted 12-04-2020 09:35 AM

    I actually saw this one in my email this am and already read it haha chase caught my interest!!

     




    Original Message


  • 4.  RE: Due Diligence on public government-sponsored enterprises

    This message was posted by a user wishing to remain anonymous
    Posted 12-07-2020 10:22 AM
    This message was posted by a user wishing to remain anonymous

    Interesting...I haven't been able to find all due diligence information on the Federal Reserve for example for ACH services.  I've found some of their information (Business Continuity Guide and Audited Financials) but not all.  I'd be interested to know where to find the rest.
    Original Message


  • 5.  RE: Due Diligence on public government-sponsored enterprises

    Posted 12-07-2020 10:37 AM
    The Federal has 2 main auditors: the GAO and OIG. 
    The financial statements are released annually as are regular balance sheets.

    Below is a link to audit information for the Fed:
    The Fed - Audit

    The Fed also has an annual report that is available online and includes summary of OIG and GAO reviews completed, ongoing and planned: 
    The Fed - Annual Report

    Not sure what if anything might be available specific to only ACH.
    Original Message