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#2215390 - 06/11/19 02:03 PM Question about regulators and CMS exam
Anonymous
Unregistered

Hello. We are FDIC regulated and received an entry letter for our CMS exam a couple of months ago and have not heard anything since. I am out of the office this week and the EIC contacted our CEO late yesterday afternoon and asked to conduct the interview on Wednesday. The CEO told him I was out of the office and he did not want to do it without me. He seemed unhappy with the request to reschedule and asked if we could send him the informal questionnaire answers.

Is this normal to request such a short time frame (40 hours) before the interview and essentially refuse to reschedule it? The questionnaire is for our purposes and we do not have formal responses documented within it.

Has anyone run into this before? Is it reasonable to ask the EIC to reschedule? I don't want to get off on the wrong foot but I feel a live interview with key personnel is much more effective in helping them determine the scope of their examination. Please help!!

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#2215486 - 06/11/19 10:23 PM Re: Question about regulators and CMS exam Anonymous
Inspector Offline
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Joined: Apr 2016
Posts: 254
Request times within a week are not uncommon for scheduling these types of interviews but I haven't encountered a situation where rescheduling was a problem. Examiners have schedules and time frames to get certain tasks done so maybe he was up against the clock.

Sending the informal questionnaire answers back might be helpful so you can keep the interview shorter but they should not tell you no if you want to do a verbal interview. From the FDIC exam manual "The EIC will contact the institution and arrange a PEP interview to be conducted either by telephone or through an in-person discussion."

The process is in the FDIC Exam manual

https://www.fdic.gov/regulations/compliance/manual/2/ii-4.1.pdf
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Opinions expressed are my own and do not reflect legal advice or the opinions of my employer.

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#2215605 - 06/12/19 08:06 PM Re: Question about regulators and CMS exam Anonymous
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
Anon: You say you are having a "CMS exam." Do you mean a compliance exam? Evaluating your CMS is part of compliance exam, but I've never heard of a CMS exam. Maybe this is new.
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David Dickinson
http://www.bankerscompliance.com

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#2215671 - 06/13/19 04:17 PM Re: Question about regulators and CMS exam Anonymous
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,436
Somewhere
They are one in the same IMO and used interchangeably. I took CMS exam to mean compliance exam.

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