Departmental Front End Risk Assessment FERA Policy at HUD – 2022

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The HUD panel discusses the Department’s FERA policy. The FERA policy is a key tool used by HUD to buttress its risk responsibilities. This policy was developed to align with the authorities prescribed by OMB Circular A-123 , the GAO Green Book , Payment Integrity Information Act of 2019 (PIIA) , the Fraud Reduction and Data Analytics Act of 2015 , and the GAO Fraud Risk Framework . to identify, understand, prioritize, and treat programmatic risks with the potential of having the greatest level of adverse impact on a program’s ability to meet mission goals and objectives, operations, and reputation. More specifically, the FERA policy was created to facilitate the identification of risks associated with launching or substantially revising a HUD program. As such, this policy is aligned HUD’s ERM framework, which can be mapped back to the 17 principles of GAO’s Standards for Internal Control in the Federal Government, including Principle 8, which specifically addresses fraud risks.