2023 Risk Management Seminar
Model RM, Fintech RM, BSA and Compliance Best Practices
Live Stream / Virtual
Event Details
Learning Objectives
After attending, participants will be able to:
- Reduce risk in digital systems
- Monitor red flags related to banks and fintech partnerships
- Adhere to best practices in 2nd line monitoring
- Recognize the different models of loan portfolio stress testing
- Use loan portfolio stress testing as a means of identifying potential problem loans and effectively communicate loan portfolio stress test results
Program Topics
CECL ‐ Life After Implementation ‐ Alek Bevensee
Alek will discuss validations vs. internal audits, common findings from post‐implementation validations, considerations for back testing and stress testing as well as preparing for your December 31, 2023 financial statement audit.
Effective Ways to Reduce Risk in Digital Systems ‐ George Jouldjian & Jason Brett
IT systems are constantly growing and evolving to meet your customers’ expectations. However, are your investments creating more risk than previously considered? This session will explore three areas to take in account while protecting your environment: Vendor Management, Change and Access Management, and Business Continuity Planning and Disaster Recovery. Join us as we explore questions you need to be asking, including: Are my vendor management controls documented? How well do we know our vendor and what they are and are not doing for us? Who is protecting the reports I rely on for critical management decisions?
What is the impact of using the wrong data to make daily decisions? Is our recovery time and point objectives in line with bank requirements and customer expectations?
Bank & Fintech Partnerships: Risks, Rewards, and Red Flags ‐ Marissa Lahousse
Let’s demolish the idea that fintech is synonymous with replacing traditional banking. While some fintech’s serve as a standalone alternative to traditional banks, the majority are working with banks to improve existing services. Though the partnership often produces a new customer base, innovative technologies, and a lower operational cost than traditional service offerings – it also increases the Bank’s risk profile in several ways. In this presentation we will dive into the history of fintech, challenges of fintech partnerships, solutions that benefit both parties, and red flags to monitor.
Practical Applications of Loan Portfolio Stress Testing ‐ Jason Price & Mike Barnett
This session will address the importance of loan portfolio stress testing. Discussion will include: what data should a financial institution be stress testing, why stress tests are important, what do stress tests tells us, who should be tasked with performing the stress test, and how should we use the data in decision making.
Best Practices in Second Line Monitoring: BSA and Compliance ‐ Drew Young
Monitoring services provide a 2nd line of defense, supplementing the compliance function under the direction of senior management, to assist in assuring the Bank adheres to defined policies and procedures. In addition to evaluating compliance with ever‐evolving regulation, 2nd line monitoring provides quality assurance by ensuring adherence of an institution's policies, procedures, and standards. It allows the opportunity for management to evaluate the quality of risk management and identify gaps that may lead to potential weaknesses within a compliance program.
Federal Reserve Bank of Richmond Regulatory Update ‐ Dorian Henry & Mina Oldham
Our final session will provide an overview of hot topics, areas of concern and bright spots that regulators are seeing in our community banks. There will also be an opportunity to ask questions of our guest presenters.
Agenda
| May 11 | |
| 8:45 AM - 9:00 AM | Log In |
| 9:00 AM - 12:05 PM | Program |
| 12:05 PM - 1:05 PM | Lunch Break |
| 1:05 PM - 3:00 PM | Program |
CPE Information:
Continuing Education: Up to 5 hours of CPE credit
Field of Study: Specialized Knowledge Delivery Method: Group Internet Based Program Level: Basic
Prerequisites: None
Advance Preparation: None
About our Presenters
Josh serves as the Specialty Group Leader for the firm's Financial Services Group. In this role, he leads the firm's financial services audit, tax, advisory, and consulting teams, as well as oversees their related service offerings. Josh's customers include both public and private banks, mortgage companies and trust companies. He assists these customers with financial statement audits, internal control over financial reporting audits (Sarbanes‐Oxley and FDICIA), and internal audit engagements.
A credit risk professional with nine years of financial services experience, Mike works exclusively with financial institutions in size from $50 million to $13 billion. His specialties include loan review, loan portfolio stress testing, loan due diligence, and Federal Home Loan Bank audits.
Alek has spent his entire career working with financial institutions, both public and private. He provides specialized services in the areas of data analytics, model risk management and current expected credit losses. Alek is also a frequent presenter at industry conferences and college campuses across the country where he shares perspectives and best practices applicable to the financial industry.
Jason has more than 20 years of comprehensive knowledge and skills in the technology, management consulting, and internal/external audit profession, with coverage in a wide array of industries, both regulated and non‐regulated. His career has focused on external audit, regulatory issue validation, operational internal audit, information technology audit, information security, enterprise risk management, and technology consulting services. Jason is a certified public accountant, certified information systems auditor, and certified information technology professional.
George has 21 years of experience as an IT Security Professional and works with customers in a variety of industries to analyze and improve their overall security posture through penetration testing and threat assessments. He advises organizations on cyber incident response and provides comprehensive cybersecurity consulting services. Before joining Elliott Davis, George conducted network and application penetration tests for customers worldwide, including Fortune 500 companies, and conducted Internet of Things (IoT) security reviews for commercial devices.
Marissa is a financial services professional experienced in providing internal audit and risk advisory consulting services for banks, credit unions, and fintech companies. Areas of focus include Bank Secrecy Act (BSA), consumer regulatory compliance and operational areas such as deposit, loan, ACH, branch operations, and credit administration. Prior to joining Elliott Davis, Marissa worked in the compliance department at a community bank. Her consulting experience includes regulatory compliance engagements ranging from consent orders, internal audits, data system validations and optimizations, and overall program consulting.
Jason is the practice leader for loan review and credit risk services. He has over 20 years of credit risk experience. Jason works exclusively with financial institutions in size from $50 million to $13 billion in total assets. His specialties include loan review, loan portfolio stress testing, and loan due diligence. Prior to joining Elliott Davis, Jason worked in the Financial Services industry for 10 years.
Rob has more than fifteen years of experience and focuses on serving financial institutions, SEC registrants, and broker‐dealers. In addition to those areas, Rob’s primary focus has been to provide external and internal audits. His customer base has included both public and privately owned financial institutions ranging in size from $100 million to over $25 billion in total assets.
Drew works exclusively with financial institutions to provide regulatory compliance services, including risk‐based regulatory compliance review, Bank Secrecy Act review, fair lending analysis, consultation, audit and training. He has over ten years of experience and came to Elliott Davis from a Tennessee‐based firm, where he served financial institutions of various asset sizes throughout the southeastern US.
Dorian Henry‐Jones is a Consumer Compliance Advanced Examiner within the Supervision, Regulation, and Credit department of the Federal Reserve Bank of Richmond. Dorian started her career at the Fed in 2006 as a consumer affairs bank examiner, later transitioning into her current role as a Central Point of Contact for a portfolio of community banks.
Mina Oldham is a Senior Supervision Analyst at the Federal Reserve Bank of Richmond’s Supervision, Regulation, and Credit department, focusing on risk and surveillance. Prior to taking on the analyst role in 2020, Mina served as a community and regional bank examiner for 7 years, which included leading examination teams. Mina also served as the Chairperson for the inaugural Women in Banking Conference, which has become an annual event held at the Federal Reserve Bank of Richmond in partnership with Bank on Women Inc.