Commerce - Banking
Thomas B. Gronstal,
Superintendent
Mission Statement:
Protect the interests of those doing business with banks
and other financial services providers by ensuring safety,
soundness and adherence to the laws and regulations of Iowa.
Measures:
Financial institutions in compliance
Charter banks: examined timely
Financial institutions: examined per
statute
Financial Institutions: complaints
resolved timely
New Business Development
On-line License Renewals
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Performance Plan - How we measure our progress
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Strategic Plan - How we plan for progress
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Performance Report - How we report our progress
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Department Home Page - Learn more about this department
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Highlighted Measure:
Percent of Iowa chartered Banks operated
in a safe and sound manner
and in compliance with applicable laws
and regulations.
Data Source: Dept. of Commerce, Division of Banking
Updated 5/1/08
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Why
this is important:
Composite ratings are based on a careful evaluation
of an institution's managerial, operational,
financial, and compliance performance. The six
key components used to assess an institution's
financial condition and operations are: capital
adequacy, asset quality, management capability,
earnings quantity and quality, the adequacy
of liquidity, and sensitivity to market risk.
The rating scale ranges from 1 to 5, with a rating
of 1 indicating: the strongest performance and
risk management practices relative to the institution's
size, complexity, and risk profile; and the level
of least supervisory concern. A 5 rating indicates:
the most critically deficient level of performance;
inadequate risk management practices relative
to the institution's size, complexity, and risk
profile; and the greatest supervisory concern.
The composite ratings are defined as follows:
Composite 1 Rating - indicates strong performance and
risk management practices, and any weaknesses are minor and can be
handled in a routine manner. These credit unions give no cause for
supervisory concern.
Composite 2 Rating - reflects satisfactory
performance and risk management
practices, areas of weakness may be present
but are considered minor and if left unchecked
could develop into greater concern. These
credit unions have minor supervisory contact.
Composite 3 Rating - represents
performance that is flawed to some degree
and risk management practices may be less
than satisfactory, credit unions
require more than usual supervisory attention
to address deficiencies.
Composite 4 Rating - refers to poor
performance of serious supervisory concern
that, if left unchecked, would be expected to
lead to conditions that could threaten the viability
of the credit union, and weaknesses and problems
are not being satisfactorily resolved.
Composite 5 Rating - considered unsatisfactory
performance that is critically deficient
and in need of immediate remedial attention,
weaknesses and severity of problems are beyond
management's ability or willingness to control
or correct, and these conditions directly threaten
the viability of the credit union. These credit
unions have a high probability of failure, are
under continuous supervisory scrutiny and involvement,
and will likely require emergency assistance,
liquidation, merger or acquisition.
What we're doing about this:
All financial institutions chartered and
licensed by the Iowa Division of Banking are examined within statutory
timelines
and assigned a CAMELS rating.
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Highlighted Measure:
Percent of state chartered banks
examined within statutory time
limitations.
Data Source: Dept. of Commerce, Division of Banking
Updated 5/1/08 |
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Why
this is important:
All financial institutions chartered and licensed
by the Iowa Division of Banking are operated
in a safe and sound manner ensuring their safety
for the citizens of Iowa. Pursuant to Section
524.217 of the Iowa Code, every state chartered
bank must be examined at least once during each
two-year period.
What we're doing about this:
Continue to meet its statutory requirements of 524.217.
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Highlighted Measure:
Percent of state licensed non-depository
financial institutions required
to be examined by statute examined.
Data Source: Dept. of Commerce, Division of Banking
Updated 5/1/08 |
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Why
this is important:
All financial institutions licensed by the Iowa
Division of Banking are operated in a safe and
sound manner ensuring their safety for the citizens
of Iowa.
What we're doing about this:
Continue to meet the statutory requirements.
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Highlighted Measure:
Percent of complaints against
licensed non-depository financial
institutions resolved within
30 days.
Data Source: Dept. of Commerce, Division of Banking
Updated 5/1/08 |
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Why
this is important:
Iowa residents deserve to receive a timely response
from entities that are licensed to conduct business
in the state. It is felt that 30 days is a reasonable
time for a licensee to respond to a consumer
complaint.
What we're doing about this:
The finance bureau was re-organized in February 2005 in
an effort to coordinate the decision to grant a license
renewal with a company's ability to resolve complaints in
a timely manner. Individual performance expectations have
been established and clearly communicated. Several measures
within the complaint process have been established which
will help the individual better understand where improvement
is needed in the process to reduce the number of days from
receipt of a complaint till it is resolved.
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Highlighted Measure:
Percent of license applications
processed within 30 days.
Data Source: Dept. of Commerce, Division of Banking
Updated 5/1/08
Qtr 3 Note: transitioning
to a new system. |
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Why
this is important:
Businesses seeking a license to conduct business in Iowa
are able to begin offering their services to the public
sooner when their license applications are approved quickly.
What we're doing about this:
The finance bureau was re-organized in February 2005 in
an effort to coordinate the licensing/renewal decision with
a company's ability to resolve complaints in a timely manner.
As of the third quarter 2008, IDOB has transitioned approximately
25% of the licensing application/renewal process to a third
party online system.
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Highlighted Measure:
Percent of on-line license renewals.
Data Source: IowaInteractive - calendar year quarterly report
Updated 2/14/08 |
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Why
this is important:
The Professional Licensing Bureau has the responsibility
of protecting the citizens of Iowa in their dealings
with members of the professions under its jurisdiction:
Accountants, Architects, Engineers and Land Surveyors,
Landscape Architects, Real Estate Brokers and
Salespersons, Real Estate Appraisers and Interior
Designers. The bureau
regulates 30,000 licensees, receives and
investigates 125 complaints, conducts 200
Trust Account audits, administers uniform national
exams to more than 2000 candidates yearly, registers
approximately 1000 new individuals yearly, and
renews 13,000 individuals and firms
annually.
The Professional Licensing Bureau has implemented on-line license
renewal for the professions. The goal is
to have 100% renewal on-line. The on-line
license renewal process is an efficiency
measure that will allow a reduction in the
amount of personnel time, office supplies,
and postage currently being expended for
this process and will give the professional
a more expedient response from the bureau.
When license renewals are not delayed it
assures a more safe profession for the citizens
of Iowa.
What we're doing about this:
The Professional Licensing Bureau is continuing
to work with Iowa Interactive and the division's
IT staff to make the current on-line license
renewal system more reliable. Reliability
has been a problem with the current system
and it is believed that this has caused a
lower percentage of those renewing on-line.
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