A controller may obtain data associated with operation of an engine of a machine that comprises a first engine bank associated with a first set of turbochargers and a second engine bank associated with a second set of turbochargers, and may determine, based on the data, that the engine is in an operating state that requires the first and second sets of turbochargers to be operative. The controller may determine, based on the data, a difference in operation of the first engine bank and the second engine bank and identify, based on the data, a turbocharger failure condition associated with a particular set of turbochargers, of the first and second sets of turbochargers. The controller may identify, based on the data, a particular turbocharger, of the particular set of turbochargers, as a failed turbocharger, and may perform one or more actions based on identifying the particular turbocharger.