Your institution’s safety and soundness are contingent upon effectively identifying and managing your compliance risk exposures. The Audit Committee is a vital component to your Compliance Management Program.
They must have an understanding of your institution’s current compliance risk level and focus on those areas of highest risk to ensure that board-approved policies include mechanisms for identifying, measuring, controlling, and monitoring risks. They also must be kept informed of the current regulatory environment, including regulatory hot buttons and pending regulations coming down the pike.
In this session, we will discuss the role and responsibilities of the Audit Committee and its members. We will share a sample of a standard Audit Committee agenda and detail the reports and policies that the committee is responsible for reviewing.
What You’ll Learn
- Understand the responsibilities of and examiner expectations for the Audit Committee
- Compliance Audit Programs – what the examiners are looking for
- Utilize checklists to track that corporate documents, policies, and reports are appropriately reviewed by the Audit Committee Board
- Review compliance exception reports
- Define responsibilities for the Board, including policy and risk assessment approval, training requirements, and reviewing audit/exam findings
- Explain key information from audit reports
Who Should Attend
This informative session is designed for audit committee members, compliance officers, and compliance council/committee members. Risk managers, managers, and assistant managers will also benefit from the information that will be presented.