Setting processes and procedures for managing the agency’s Student Resource Center (SRC) and developing SRC performance goals, things that appeared to be lacking since the center’s inception, are among the corrective actions the federal deposit insurer has agreed to make related to an inspector general audit report released Wednesday.
The report says the Federal Deposit Insurance Corp. (FDIC) Office of Inspector General (OIG) conducted the audit to assess the agency’s efforts to determine the cost benefits of, and organizational risks associated with, operating the SRC. Among the findings is that the FDIC “could not provide documentation that SRC cost benefits have been assessed since 1986 or that organizational risks specifically related to operating the SRC have been formally identified, assessed, or addressed.”
The OIG said this was due, in part, to the FDIC’s lack of (1) asset management processes and procedures; (2) centralized, accessible SRC-related financial and non-financial data; and (3) performance goals and objectives for SRC operations.
The OIG made four recommendations that it wants the agency to implement this year. They are:
- develop and finalize processes and procedures for real property asset management-related activities;
- establish and execute a data-driven decision-making process regarding the current and future use and operation of the SRC;
- develop performance goals and objectives for the SRC; and
- leverage FDIC Directive 4010.03, Enterprise Risk Management and Internal Control Program, to identify, assess, and mitigate risks related to achieving the SRC performance goals and objectives identified.
It said the agency agreed with the recommendations and plans to complete all corrective actions by Sept. 30.
FDIC OIG AUD-26-01 (Jan. 6, 2026)
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