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You are Issued an Enforcement Action- Now What? Best Practices to Help you to Take the Steps to Get Out from Under it
- Implementing enforcement action remediation audit best practices
- Assessing your enforcement action
- Comprehensive Assessments of progress
- Review of efforts
- Determining the effectiveness and thoroughness of remediation plans
- Ensuring qualified oversight of efforts
- Assessing your completion of requirements
Overview of the webinar
Although financial institutions have been enforcement actions, the change in focus to addressing them the right way is increasingly important. Regulators look to the Bank for assurance and evidence that they have taken all the necessary steps to fulfill their requirements to be resolved of the enforcement action imposed on them. This session highlights best practices that are being acknowledged and recognized by regulators and examiners. In this webinar, we will discuss the steps that regulators and examiners are primarily focusing on in regards to enforcement action remediation. The areas of focus outlined in this webinar are based on best industry practices and supervisory experience.
Who should attend?
- Compliance Officers
- Senior Managers
- BSA/AML Auditors
- Regulators and Examiners
- Supervisors
- Risk Officers
- BSA/AML Consultants
- BSA/AML Staff
- Risk Managers
- Money Service Businesses
- Broker/Dealers
- BSA/AML Officers
- Directors
- Banks
- Auditors
Why should you attend?
The increased scrutiny of examiners and regulators regarding remediating any enforcement actions continue to increase. Non-compliance with enforcement action requirements increases the risk exposure of financial institutions failing to protect consumers and themselves. As a result, financial institutions can experience negative implications affecting them both reputational and financially. Remediating your enforcement action is more important than ever to ensure they are implementing the appropriate tools to ensure they are compliant with rules and regulations. The learning objectives are:
- Define what an enforcement action is
- Identify operations and activities that have enforcement action implications
- Tips and suggestions for an effective enforcement action remediation plan
- How to effectively audit enforcement action efforts
- Maintaining compliance
Faculty - Dr.Gina J. Lowdermilk
Dr. Gina J. Lowdermilk, Ph.D. (ABD), CAMS, CRMS is a highly experienced and educated BSA/AML and financial regulatory compliance professional with extensive experience in policy and procedure development and implementation, training, internal audit, monitoring, risk management and reporting. Her emphasis has been working with financial institutions that are experiencing regulatory concerns and resolutions, including enforcement actions such as memorandums of understanding and cease and desist orders. Her 15 years of experience has given her the opportunity to work from small community banks to large, international financial institutions. Her roles not only included BSA/AML and compliance, but also operations, lending services, business development, marketing, management, department development, and asset quality.
Dr. Lowdermilk has worked with almost all financial regulators and examiners. She possesses advanced Microsoft Excel, PowerPoint, Word, Internet Explorer, Visio, and Access skills. She also has experience with FiServ, BAM, CRA Wiz, TeamMate, COGNOS and Metavante banking software. She has been responsible for creating both recurring and ad hoc executive management and board presentations. In addition to her above experience, she is also an adjunct instructor for the business and construction management programs at a local college, as well as writes numerous BSA/AML and compliance articles, training materials, and manuals for numerous clients.