A fair lending risk management program is a set of policies and procedures that financial institutions use to identify, manage, and mitigate potential fair lending risks. The program is designed to ensure that financial institutions comply with fair lending laws and regulations, which prohibit discrimination in the lending process on the basis of race, gender, ethnicity, religion, national origin, age, or disability.

Here are some key components of a fair lending risk management program:

1. Policy statement: A written policy statement that outlines the institution's commitment to fair lending practices and compliance with fair lending laws.
   
   
2. Risk assessment: A comprehensive analysis of the institution's lending practices to identify potential fair lending risks and areas for improvement.
   
   
3. Training: Regular training for employees on fair lending laws and regulations, as well as on the institution's fair lending policy and procedures.
   
   
4. Monitoring and testing: Regular monitoring and testing of lending practices to ensure compliance with fair lending laws and regulations.
   
   
5. Complaint response: A process for receiving, investigating, and resolving complaints related to fair lending practices.
   
   
6. Record keeping: A system for maintaining records of lending activities and fair lending compliance efforts.

By implementing a fair lending risk management program, financial institutions can help ensure that they are complying with fair lending laws and regulations, while also reducing the risk of costly litigation and reputational damage associated with fair lending violations.