Financial Institutions Examinations and Audits: Prior Preparation Leads to a Successful Outcome

02-25 to 02-26-2025 1:00 PM EST

Passing a financial institution's regulatory examination or audit requires more than acceptable performance. In addition, it requires preparation prior to the examination or audit. Examinations of financial institutions vary depending on whether the institution is state or federally chartered and their regulator. There are many types of financial institution examinations; CAMELS rating, risk-focused, specialty, horizontal, etc.  Similarly, financial institutions undergo different types of audits.   However, a successful conclusion to either an audit or examination depends on strong preparation beforehand. Our expert speaker, Dan Clark, is a former Chief Auditor who has had decades of experience with international banking giants and regional banks. Dan will discuss what you need to do to prepare prior to, during, and after the examination in this two-part examination and audit prep series.  Ultimately, success depends largely on strong prior preparation.

What You’ll Learn

During this highly informative exam and audit prep webinar Mr. Clark will discuss:

• Preparing for the examination or audit
• How to respond to the “deliverables list”
  
• Management tips for the onsite visit
• Steps to take during and after the examination or audit
• How to receive and resolve issues raised during the exam or audit
  
• Receiving and negotiating the final report
  
• Taking the required after the exam or audit actions
  
• Best exam and audit prep best practices  
  
• Case studies illustrating step-by-step the entire prior preparation process from
• beginning to end

Financial Institutions Examinations and Audits: Prior Preparation Leads to a Successful Outcome Sessions Outline

Session 1: Preparing for the Examination or Audit

• Steps to take prior to the start of the exam or audit
  
  • Assign a liaison to the examiners or auditor
  • Organize the oversight committee
  • Establish communication protocols
    
• Receipt of the “deliverables list”
  
  • Understand what it is  telling you
    
  • What processes should you implement?
    
  • Creating the tracking process
    
  • Assigning champions to address the issues that are expressed
    
• Management tips for the onsite visit
  
  • Logistical issues
    
  • Opening meeting
    
  • Board of Directors briefing
    
  • Messaging within the organization
    

Session 2: During and After the Examination or Audit

• How to receive and resolve issues raised during the exam or audit 
  
  • Discussing the best ways to ensure potential issues do not become “big deals”
• Receiving and negotiating the final report
  • Ensuring full understanding of the reported issues and concerns 
    
  • Developing a meaningful response
    
  • Action plans that address the issues highlighted by the report
• Taking the required after the exam or audit actions  
  
  • Understanding that the exam is not really closed
    
  • Implementing processes that ensure issue resolution
  • Tracking and resolution implementation
• Case studies illustrating step-by-step the entire prior preparation process from beginning to end