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#282749 - 12/01/04 09:47 PM Board Training
Jim Offline
100 Club
Joined: May 2004
Posts: 127
New York State
Does anyone have a training program for their Board of Directors that they would be willing to share?

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General Discussion
#282750 - 12/01/04 10:21 PM Re: Board Training
Snowgirl Offline
Platinum Poster
Joined: Sep 2003
Posts: 729
Our directors have taken video training in 2003 that we ordered from ICBA on Asset/Liability management & Interest Rate Risk, Understanding CAMELS Ratings-Using Board Reports-Using Financial Ratios, The Director's Role in the Lending Function and The Function of Board Committees, however, our FDIC Examiners suggested we do training on Compliance Issues - non in-depth. I too am looking for suggestions on training on compliance issues for our directors. Any help would be appreciated.

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#282751 - 12/01/04 11:43 PM Re: Board Training
Oursisnottoreasonwhy Offline
Platinum Poster
Oursisnottoreasonwhy
Joined: Nov 2004
Posts: 503
Central Illinois
http://www.fdic.gov/news/news/financial/2004/fil0604a.html

This link is an excellent starting point Reg B Spousal Signatures. FDIC FIL-6-2004. I gave a copy to all board members and discussed at the quarterly compliance meeting with our board.

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#282752 - 12/01/04 11:49 PM Re: Board Training
berico Offline
Gold Star
Joined: Jun 2004
Posts: 290
California
As compliance officer and general counsel, the board gives me 15 minutes at each meeting to present training on compliance regulations. In most cases, it's just a synopsis (on one or maybe two issues), as they don't need to know the departmental procedures, just the requirements and consequences of non-compliance. I give them the rules and briefly explain how we comply with them. In this way, they are given an understanding of the complexity involved with a lot of the regulations, as well as the seriousness of non-compliance. For example, lessons learned from Riggs and AmSouth have them very much aware of BSA. Fortunately, the Board (and management) is very well in tune with the need for compliance, and compliance training.
As far as the topics, I usually do an abbreviated outline of the compliance training I hold each month for the lending and operations side of the Bank. The directors get an outline on each topic, which can be placed in a compliance binder that each is provided.
In addition to keeping the Board informed as a good compliance policy, the regulators were impressed as well during our last examination.

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#282753 - 12/02/04 05:57 PM Re: Board Training
Anonymous
Unregistered

With the Riggs and AmSouth deal we recently performed BSA training for our Bd. A brief (and I do mean brief) BSA presentation was prepared and they were provided a copy to keep. It basically was just an out line of the items that affected them. I actually had a couple of good questions from them. Mention fines...that always wakes them up.

Also, when you perform training with the Bd. make sure that a copy gets in the minutes and ask the minute keeper to make mention of questions that were asked afterwards.

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#282754 - 12/02/04 06:16 PM Re: Board Training
Retired DQ Offline
10K Club
Retired DQ
Joined: Dec 2002
Posts: 40,766
Turnpike Exit 10
Last edited by Devilish; 12/02/04 06:18 PM.
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