The Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) recently presented the Washington Department of Financial Institutions (DIF) with CSBS banking accreditation and CSBS/AARMR mortgage accreditation.
“Congratulations to Director Jarvis and his entire staff for achieving banking reaccreditation,” John W. Ryan, president and chief executive officer of CSBS, said. “This accreditation demonstrates the constant commitment of the DFI to maintaining top-notch standards in financial services supervision.”
The accreditation program uses a comprehensive review process that investigates all department operations, including administrative responsibilities, financing, personnel, training programs, examinations, supervision and legislative powers. To obtain CSBS accreditation, state agencies must submit to an evaluation process by CSBS and AARMR. The process involves a questionnaire on department operations and an external review that conducts on-site evaluations. After the review, veteran state regulators present their findings to an audit team and the Performance Standards Committee.
“Washington DFI is proud of our re-accreditation process and results, especially in light of how challenging the CSBS accreditation standards are,” Scott Jarvis, director of Washington State DFI, said. “Staff works hard to ensure the agency meets, and often exceeds, the regulatory standards set for the banking and mortgage industries.”