How to Achieve Regulatory Exam Readiness

Editor's Note: This article was originally published on the Bridgeforce Insights Page and has been republished here with permission. Bridgeforce content—and all insideARM articles—are protected by copyright. All rights are reserved. 

Yuri Zap / Adobestock

This blog shares actions proven to prepare for regulatory exams by adopting a proactive and informed approach. At a high level, to prepare for regulatory examinations, organizations should adopt a proactive and informed approach. Staying abreast of regulatory changes and updates is crucial, and the bank should establish a robust Compliance Management System (CMS) that encompasses policies, procedures and controls aligned with current regulatory requirements. Regular internal audits and risk assessments must be conducted to identify and rectify compliance gaps, with a commitment to promptly address any deficiencies discovered.

Clients often ask, “We have an upcoming exam and are not sure where to start – what do we do? There are certainly some common standards, but our answer often varies by client, based on many factors that must be considered before planning readiness activities. These factors include:

View this content by subscribing

Please register to unlock this content

I already have an account. Log in