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The Role of the Audit Committee

The Audit Committee serves as the “Compliance Oversight” function of the entire board. This session will review the responsibilities of the Audit Committee. It will provide a sample charter and identify the key reports this committee must regularly review to effectively manage their role.

OnDemand
Recorded Wednesday,
December 4th, 2024
Presented by Dawn Kincaid
2h total length
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Management/Employee Development
  • Risk Management/Legal
  • Board Member
  • Compliance Officer
  • Internal Auditor
  • Risk Manager
  • Senior Management
  • Training Manager
  • Trainer

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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.

Dawn Kincaid

Instructor Bio

Dawn Kincaid began her banking career while attending The Ohio State University. She has 19 years of 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 the 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.

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