This invaluable session will explain the types of reports to include in board packages and how to recognize “red flags” in board reports. It will address how the reports should be used to ensure directors are receiving the necessary details to stay informed of issues impacting your institution and make effective, risk-based decisions.
- Understand directors’ responsibilities and examiners’ expectations of them
- Track that corporate documents, policies, and reports are appropriately reviewed by the board
- Review compliance exception reports
- Define BSA responsibilities for the board, including policy and risk assessment approval, training requirements, and review of audit/exam findings
- Explain key information from lending reports, including tracking concentrations, stress testing, and LTV standards
Ultimate responsibility for your institution’s risk-management program lies with your board of directors. Examiners will evaluate the overall effectiveness of management and the board by analyzing:
- Board and senior management oversight
- Policies, procedures, and limits
- Risk monitoring and management information systems
- Internal controls
To facilitate this review, examiners will look at reports and minutes from board and subcommittee meetings to confirm whether management is effectively communicating with the board and that the board has appropriate oversight over risk management, compliance, operations, and financials. Therefore, receiving clear, concise, complete information is critical to a board’s decision-making.
Dawn Kincaid, Brode Consulting Services, Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Dawn served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Dawn has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.