Managers assess and evaluate the risks and controls within their scope of authority at least annually. However, an enterprise-wide compliance-risk management program is dynamic and proactive, meaning that risks are assessed whenever new business lines or activities are added or existing activities and processes are altered.
As normalization moves into its later stages, my colleagues and I also believe that this is an important  -2moment to take stock of issues raised by the remarkable experiences of the past decade. We are therefore conducting a review of the Fed’s monetary policy strategy, tools, and communications practices. I will conclude with some thoughts on the review.