The FDIC OIG has issued its report on the FDIC’s Significant Service Provider (SSP) Examination Program. We conducted the audit to determine the effectiveness of the SSP Examination Program in evaluating the risk exposure and risk management performance of SSPs and determining the degree of supervisory attention needed to ensure weaknesses are addressed and risks are properly managed.
We found that while the FDIC has developed strategic objectives and made progress in its performance management efforts, the FDIC has not established program-level performance goals and metrics to measure overall SSP Examination Program effectiveness and efficiency.
To address this finding, the OIG recommended that the FDIC complete efforts to develop and implement program-level goals and metrics for its Service Provider Examination Programs.
The FDIC concurred with our recommendation and plans to complete corrective actions by March 31, 2026.