F, G, H, I
SES Glossary of terms, F through I.
Financial Review Date
The as-of date for certain financial data requested. This date is optional and may not apply to certain business types.
Findings
An issue identified by a state agency
user during the supervision of a financial institution in SES. The
finding may describe the company’s strengths and/or weaknesses regarding
its compliance management system, assess the company’s compliance with
consumer protection laws or regulations, or any potential consumer harm.
A finding may be either a violation, recommendation or observation.
- Types of Findings
- Violation.
- A type of finding in SES. A violation includes an act or omission by the company that amounts to the transgression of a law, regulation, rule, or administrative code. The agency may require the company to take steps to correct the violation and there will generally be a follow-up from the state agency regarding the plan or steps that the company will take to correct the violation.
- Recommendation.
- A type of finding in SES. Offers an opportunity for the company to improve compliance or risk management posture with a statute, regulation, rule, company policy/procedure or other regulatory expectation.
- Observation.
- A type of finding in SES that a company should take into consideration in order to improve their overall risk management posture or compliance with an internal policy or regulatory expectation.
- Alleged Violation.
- This type of potential finding is used only in the SES Consumer Complaints area of the system. An alleged violation is a potential finding against the company identified by the state agency during the handling of a complaint about the company in SES Consumer Complaints. Alleged violations are identified by the state agency during the agency’s research and assessment of facts and circumstances surrounding the consumer complaint, and communication with the company about the complaint.
Frequently Asked Questions
Frequently Asked Questions (FAQs)
FAQs
Follow Up Scope
Includes, but is not limited to the review of
items needed to determine if the company remediated issues prior to examination findings.
Full Scope
Includes, but is not limited to the review of
standard core information requests, state-specific information requests, or loans (i.e.,
transactional review).
In-Flight
Part of a Milestone. The state agency participants complete their review for the areas for review, add findings, add procedures, and add report commentary.
Initial Compliance Review Scope
Includes, but is not limited to the review of:
new companies (e.g., with six, 12, or 24 months of licensure). Typically driven by
accreditation standards.
Investigation
An ad hoc supervisory activity conducted by a state regulatory agency over a company, prompted by a complaint against the company, an adverse finding during an exam or other matters.
Invoice
A bill issued by a regulatory agency for costs associated with their work performed during a regulatory examination.
Information Requests
Entries used to request information and documentation from a
company for the examination. In SES, the IRs are divided into “standard” requests and
“state-specific” requests.
Information Request (IR)