Citibank’s disclosures in its proxy statements claiming compensation is tied to risk mitigation apparently weren’t enough to convince regulators that execs were addressing risk appropriately….While the financial services industry might have made strides, the compensation committee at Citigroup has work to do to become compliant with the OCC, according to the regulator. Citibank, which did not respond for comment for this article, was fined $400 million by the banking regulator last month for inadequate practices related to its risk management, data governance programs and internal controls.

Agenda – Pay and Risk Misalignment a ‘Friction Point’