10e. IA/IC/PF – Regulatory Exams: Best Preparation (Basic)
In this session, attendees will hear how to best prepare for a regulatory exam, including reviewing exam priorities, recent request lists, interview tips, record production and when and how to respond to prospective findings and deficiencies.
- Recognize the different types of exams being conducted, the regulators’ priorities/exam focus, where the focus intersects with your firm’s business or potential vulnerabilities, and then where to focus your efforts
- Analyze recent regulatory document request lists, understanding who has and where the information responsive to those requests resides within your organization, determining when you can customize reports and when not. Gathering your team and managing the response process
- Determine the best approach for on-site exams; who should attend meetings, should the CCO be present for all interviews; and whether or not outside resources should be used (i.e. consultants, attorney’s, tech support, etc.)
- Learn how to mitigate issues which arise in the course of the on-site exam (when appropriate); manage the close-out interview, and respond to a deficiency letter