Monitor the safety and soundness of financial institutions under the jurisdiction of the Banking Division of the State Board of Financial Institutions (the Agency).
Agency examiners will conduct examinations of South Carolina state chartered depository financial institutions and prepare Reports of Examination. Such reports will be provided to the financial institutions examined and shared with appropriate Federal regulatory authorities. Recommendations based on examination findings will be made to the examined institutions. Off-site analysis will be performed on all financial institutions in order to determine supervisory strategies. Such off-site analysis will enable the Agency to determine which financial institutions are in the greatest need of supervision. This will enable the Agency to reach its ultimate goal of preserving a safe and sound State chartered depository financial system.
Ensure that the Agency satisfies its statutory responsibilities.
Examinations of financial institutions under the Agency’s jurisdiction will be scheduled in order to accomplish the objective of examining all such financial institutions within the timeframes required by applicable law and regulation. Administrative actions will be pursued where, in the Agency’s judgment, such actions are warranted. Applications coming before the Agency will be thoroughly reviewed, evaluated and acted upon.
Protect the interests of the citizens of South Carolina.
Through the examination process, Agency examiners will determine whether financial institutions under its jurisdiction are operating in a safe and sound manner and in compliance with applicable laws, regulations and rules. Communication will be solicited from the financial institutions regarding Agency policies, regulations and operational instructions. When possible, the Agency will cooperate with members of the General Assembly in the drafting of legislation concerning applicable State laws.
Maintain a competent and well-trained staff.
A qualified and diverse group of employees is an invaluable asset to the Agency. Therefore, the recruiting process will have as its primary goal the hiring and retention of such employees. State of the art training will be provided and the opportunity for advancement will exist for all employees willing to commit themselves to high performance standards and continuous improvement.
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