The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) was enacted in 1991 to implement regulatory changes that assist in ensuring safety and soundness of financial institutions.
Bankers should understand the requirements if their institution is approaching the $500 million or $1 billion thresholds considering crucial planning and realistic timelines. We’ll cover the key facts about FDICIA including auditing and enhanced reporting requirements as well as audit committee responsibilities.
Next we’ll look at the steps to take in order to successfully implement FDICIA to satisfy audit and regulatory guidelines including:
Monitoring and preparing for implementation
Reviewing internal controls and devising an action plan
Establishing key controls and determining a testing methodology
Obtaining the necessary skills and resources for implementation
Anticipating the costs and budgeting for FDICIA Compliance
Engaging your audit committee in fraud prevention
Determining the correct technology to assist with compliance.
|All times stated are Central Time.
|Thursday, Nov. 4||
|9:00 a.m. - 10:20 a.m.
Preparing for FDICIA across all asset sizes – Obtaining a FDICIA understanding and detailing the requirements for $500 million and $1 billion thresholds
10:20 a.m. – 10:30 a.m.
10:30 a.m. – 11:30 a.m.
Monitoring and preparing for implementation, obtaining the necessary skills and resources for implementation, and devising an action plan
11:30 a.m. – Noon
Phase 1 of Implementation – Scoping/Materiality
Noon – 12:30 p.m.
12:30 p.m.– 1:30 p.m.
CASE STUDY/Scoping and Materiality Example
1:30 p.m. – 2:30 p.m.
Phase 2 of Implementation – Documentation of Design: Identification of controls and walkthroughs
2:30 p.m. – 2:45 p.m.
2:45 p.m. – 4:30 p.m.
Phase 2 of Implementation (continued) - identifying control deficiencies, developing a deficiency (gap) tracker, determining key controls
|Friday, Nov. 5||
|9:00 a.m. –10:20 a.m.
Phase 3 of Implementation – Execute Effectiveness Testing
10:20 a.m. –10:30 a.m.
10:30 a.m. –11:00 a.m.
Engaging employees, management, and governance in the testing process
11:00 a.m. –Noon
Determining the correct technology to assist with compliance and anticipating the costs and budgeting for FDICIA compliance
ICBA Member Early-Bird: $595
ICBA Member after Oct. 1, 2021: $695
Bank Director Program ICBA Member: $495
Bank Director Program Nonmember: $595
NOTE: Registration fee is valid for one connection, only for the individual registered. Full payment is required prior to attendance. For more information, call 800-422-7285.
Delivery Method: Group Internet BasedPrintable Registration Form
If registration is cancelled more than 30 days prior to the event start date, you will receive a full refund. If cancellation is within 30 days prior to the event start date, 20 percent of the registration fee paid will be deducted for costs. A substitute registration will be accepted. No refunds will be issued after the event start date.
Attendance at all ICBA programs will be considered on a first come, first served basis. If the program is cancelled, ICBA’s liability is limited to the registration fee. For additional questions contact ICBA at 800-422-7285.
CONSENT TO USE OF PHOTOS & VIDEO CONTENT
Registration, attendance, or participation in an ICBA event constitutes an agreement by the participant to ICBA’s use and distribution (both now and in the future) of the participant’s image and/or voice in photographs, videos, digital media, electronic reproductions and audio files/recordings of and at such events and activities.
This live digital course is for educational purposes only and intended only for participants of the class/event. All rights are reserved by ICBA. No recording or distribution of the content is permitted unless expressly agreed to by ICBA.