Sunday, October 22, 2017

Some tips and tricks for dealing with Regulatory Examinations

Posted by Sharon February 13, 2015 11:29am

Photo Credit: blog.regulatorycompliance.com
  • Designate a central point of contact to coordinate examination matters and deliver requested information – the “Examination Manager.”
  • The examination manager is the chief liaison with the Examiner in Charge (“EIC”) and the examination team, and will resolve any examination issues while examiners are on-site.
  • Designate a management official who can provide an overview of the bank’s operations and can direct operational units under exam review.
  • Make sure that the examiners’ requests are promptly met.
  • Is the deliverable in the proper format?  Don’t keep them waiting!
  • Does it convey your message – the right message?
  • Have a plan for responding to requests for privileged material.
  • Consult outside regulatory counsel.
  • Clearly document minutes of exit meetings and forward to Regulatory Counsel
  •  Know the rules: Be familiar with the examination policies and informal guidelines of the regulators.  Research examination handbooks prior to on-site examinations to know what they are going to look at.
  • Involve counsel immediately: Comments in exit meeting or supervisory correspondence. Protection of privilege and document control.
  • Review comparable enforcement actions: What remedies have the regulators sought in the past? Consider corrective action.
  • Do not overreact: Sometimes more regulators/enforcement counsel are brought than are necessary – Shock and Awe!
  • Know the players: Learn the relative authority and roles of the supervisory staff. Partner with local examiners to avoid escalation.
  • The examiners do not just “go away” – remember their unique role.

Good luck!!!!!!

Comments

Add a comment

  • Required fields are marked with *.

If you have trouble reading the code, click on the code itself to generate a new random code.



 Image

Sharon Geiger

Quality Control Specialist

Sharon Geiger, Quality Control Specialist Sharon has 27 years banking experience, 21 of which have been involved in internal audit. She has extensive knowledge of all aspects of the banking industry, with a particular emphasis on regulatory compliance and identifying risks and controls. As QCR Specialist, she performs Quality Control Reviews to ensure all workpapers and reports are completed in compliance with the firm's standards.



Sharon's Posts Subscribe to RSS Feed



Controls over Employee and Officer T&E Expenses
Is Regulation CC Put on the Back Burner?
Top Compliance Topics Discussed at the NJ Bankers Compliance University
Some tips and tricks for dealing with Regulatory Examinations
Updated Regulation E Booklet from the OCC!
Is Flood Disaster Still on the Heat Map?
Have You Implemented Your Plan yet?
FDIC Consumer Newsletter
More Flood Insurance Changes...
Same Sex Married Couples - Ensuring Equal Treatment – Announcement from Consumer Financial Protection Bureau
Truth in Lending (Regulation Z) Annual Threshold Adjustments (CARD ACT, HOEPA and ATR/QM)
ABA Survey on Impact of Dodd Frank Compliance
ABA Mortgage Origination Deskbook
Who handles Your Dormant Accounts?
How do you charge Early Withdrawal Fees on Time Deposits?
Do you still offer NOW Accounts?
Policy Changes Required – Do you Wait until Annual Approval?
ACAMS to provide Free Webinar
ACBB Changes its Name
Who Do You Give Cash to?
ABA Briefing to Help Banks Address Cyber-security Threats
The OCC Issues Booklet: “A Common Sense Approach to Community Banking”
Safe Deposit Box Contents are not insured – But They COULD Be!
FDIC Can Review New Products
Let’s Talk About Overdrafts!
Regulation E and NACHA Rules: When you Want to Stop Payment on a Recurring Debit
CFPB Stands Up Against Poor Debt Collection Practices
Don’t Forget the Small Stuff
Double Endorsed Checks: What is the Risk?
Social Media – Will the Regulators Do Spot Checks?
Controls Worth Sharing – Did you know?
Solutions to Reducing Dormant Accounts at Your Institution
Regulation E Foreign Remittance Rules
Expiration of Unlimited Deposit Insurance for NIBTAs
Regulation O – 5 Easy ways to avoid violations