Common use of Management Information Systems Clause in Contracts

Management Information Systems. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program establishing an effective management information system (MIS) which facilitates risk identification, establishes controls, and delivers accurate information for timely review. In so doing, the Board shall identify the Bank’s specific information requirements and establish effective reporting mechanisms to guide decisions. The program shall include procedures for: (a) expediting the timely delivery of current information; (b) establishing controls to ensure the accuracy and confidentiality of information; (c) ensuring that data are processed and compiled uniformly to facilitate meaningful trend analysis, and provide for future systems changes; (d) producing complete and relevant information in a summarized form, for Board and management reports, to permit effective decision making; (e) identifying, recording, and tracking missing, incomplete, or imperfect loan and collateral documentation, including lacking or outdated appraisals and operating statements on real estate projects; (f) generating periodic reports, on at least a monthly basis which identify emerging problem loans, identified problem loans, Other Real Estate Owned (OREO), and foreclosed assets; (g) maintaining a system by which the Board, or a delegated committee of the Board, can identify at the time of extension of credit, the aggregate customer liability relationship of that customer with the Bank; (h) maintaining a system to calculate each concentration as a percentage of total capital; (i) producing the information, which is listed in the XXX, that is necessary to effectively supervise the credit portfolio. (2) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article. As a part of the Board’s ongoing responsibility to ensure that the Bank has an effective MIS, the Board shall designate a senior officer to coordinate the execution of this program.

Management Information Systems. (1) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program establishing an effective management information system (MIS) which facilitates risk identification, establishes controls, and delivers accurate information for timely review. In so doing, the Board shall identify the Bank’s specific information requirements and establish effective reporting mechanisms to guide decisions. The program shall include procedures for: (a) expediting the timely delivery of current information; (b) establishing controls to ensure the accuracy and confidentiality of information; (c) ensuring that data are processed and compiled uniformly to facilitate meaningful trend analysis, and provide for future systems changes; (d) producing complete and relevant information in a summarized form, for Board and management reports, to permit effective decision making; (e) identifying, recording, and tracking missing, incomplete, or imperfect loan and collateral documentation, including lacking or outdated appraisals and operating statements on real estate projects; (f) generating periodic reports, on at least a monthly basis which identify emerging problem loans, identified problem loans, Other Real Estate Owned (OREO), and foreclosed assets; (g) maintaining a system by which the Board, or a delegated committee of the Board, can identify at the time of extension of credit, the aggregate customer liability relationship of that customer with the Bank; (h) maintaining systems and reports which identify and analyze real estate portfolio concentrations, including commitments, by type, collateral and location; (i) maintaining a system to calculate each concentration as a percentage of total capital; (ij) maintaining systems and reports identifying each real estate loan or project that evidences one or more of the following characteristics: slower than anticipated sales, lease or rental activity; slower than anticipated construction progress; cost overruns; other impediments to orderly project completion; or inadequate reserves to pay interest and/or tenant improvements until project stabilization; and (k) producing the information, which is listed in the XXX, that is necessary to effectively supervise the credit portfoliobank. (2) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article. . (3) As a part of the Board’s ongoing responsibility to ensure that the Bank has an effective MIS, the Board shall designate a senior officer to coordinate the execution of this program. (4) The Board shall submit a copy of the program to the Assistant Deputy Comptroller.

Management Information Systems. (1) Within sixty ninety (6090) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program establishing an effective management information system (“MIS”) which that facilitates risk identification, establishes controls, and delivers accurate information for timely review. In so doing, the Board shall identify the Bank’s specific information requirements requirements, particularly regarding the lending portfolio, and establish effective reporting mechanisms to guide decisions. The program shall include procedures for: (a) expediting the timely delivery of current information; (b) establishing controls to ensure the accuracy and confidentiality of information; (cb) ensuring that data are processed and compiled uniformly to facilitate meaningful trend analysis, and provide for future systems changes; (dc) producing complete and relevant information in a summarized form, for Board and management reports, to permit effective decision making; (ed) identifying, recording, and tracking missing, incomplete, or imperfect loan and collateral documentation, including lacking or outdated appraisals and operating statements on real estate projects; (fe) generating periodic reports, on at least a monthly basis which identify emerging problem loans, identified problem loans, Other Real Estate Owned (“OREO”), and foreclosed assets; (gf) maintaining a system by which the Board, or a delegated committee of the Board, can identify at the time of extension of credit, the aggregate customer liability relationship of that customer with the Bank; (g) maintaining systems and reports that identify and analyze loan portfolio concentrations, including commitments, by type, collateral, and location; and (h) maintaining a system to calculate each concentration as a percentage of total capital; (i) producing the information, which is listed in the XXX, that is necessary to effectively supervise the credit portfolio. (2) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article. . (3) As a part of the Board’s ongoing responsibility to ensure that the Bank has an effective MIS, the Board shall designate a senior officer to coordinate the execution of this program. (4) The Board shall submit a copy of the program to the Assistant Deputy Comptroller for review and prior written determination of no supervisory objection.

Management Information Systems. (1) Within sixty (60) days, the The Board shall develop, implement, and thereafter ensure Bank adherence to a written program establishing an effective management information system (MIS) which that facilitates risk identification, establishes controls, and delivers accurate information for timely review. In so doing, the Board shall identify the Bank’s specific information requirements requirements, particularly regarding the loan portfolio, and establish effective reporting mechanisms to guide decisions. The program shall include procedures for: (a) expediting the timely delivery of current information; (b) establishing controls to ensure the accuracy and confidentiality of information; (c) ensuring that data are processed and compiled uniformly to facilitate meaningful trend analysis, and provide for future systems changes; (dc) producing complete and relevant information in a summarized form, for Board and management reports, to permit effective decision making; (ed) identifying, recording, and tracking missing, incomplete, or imperfect loan and collateral documentation, including lacking or outdated appraisals and operating statements on real estate projects; (fe) generating periodic reports, on at least a monthly basis which identify emerging problem loans, identified problem loans, Other Real Estate Owned (OREO), and foreclosed assets; (gf) maintaining a system by which the Board, or a delegated committee of the Board, can identify at the time of extension of credit, the aggregate customer liability relationship of that customer with the Bank; (g) maintaining systems and reports which identify and analyze real estate portfolio concentrations, including commitments, by type, collateral and location; (h) maintaining a system to calculate each concentration as a percentage of total capital;; and (i) producing the information, which is listed in the XXX, that is necessary to effectively supervise the credit loan portfolio. (2) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the program developed pursuant to this Article. . (3) As a part of the Board’s ongoing responsibility to ensure that the Bank has an effective MIS, the Board shall designate a senior officer to coordinate the execution of this program. (4) The Board shall submit a copy of the program to the Assistant Deputy Comptroller.