Overview & Recommendations for DFS & Federal Climate Risk
Late last year, federal regulators and Department of Financial Services (DFS) released separate guidance on managing climate risk for financial institutions. Our expert will review the high-level principles of federal regulators' October 2023 guidance and the difference between the two agency’s guidance, before turning focus to DFS’s guidance for state-regulated banks. The DFS portion of the webinar will cover the scope of DFS climate guidance, timeline for implementation, the role of the bank's board and management in creating and implementing a risk management framework, and how climate risk is incorporated into a bank’s overall risk management process. At the end of this session, attendees will come away with a clear understanding of how to prepare for implementation of this guidance.