Internal Audit of Credit and Lending Operations

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1 APRIL Internal Audit of Credit and Lending Operations Orlando, FL Loews Royal Pacific Resort at Universal Orlando

2 Internal Audit of Credit and Lending Operations Since lending is a large part of all financial institutions balance sheets, verifying that lending controls are both designed and working effectively is essential to your institution s success. FMS Internal Audit of Credit and Lending Operations seminar will provide an overview of the lending function that is perfect for individuals that are new or just becoming familiar with auditing the lending, credit, and collection processes for community financial institutions. Through interactive, hands-on case studies, Scott Baranowski, Director of Internal Audit Services and Dan Morrill, Director of Professional Practice from Wolf & Company, P.C., will examine the entire loan auditing process from setting appropriate documentation standards, to effective loan review and learning how to sell in the secondary market. You will leave this day-and-a-half seminar with a better understanding of: The necessary steps for auditing the lending process and how to implement them Retail and commercial loan documentation testing suggestions Auditing Allowance for Loan and Lease Losses (ALLL), including how to prepare for CECL The procedures on auditing Impaired Loans/Troubled Debt Restructuring (TDRs) Hidden risks in loan confirmations Loan review roles and oversight of the loan review function How to evaluate participation loans How the lending process interacts with COSO 2013 Lending related hot topics About FMS For over 65 years, the Financial Managers Society s network of members has provided technical education to financial professionals from community financial institutions through conferences, seminars, webinars and publications. For details on FMS membership benefits or how to become a member, please visit or call 800-ASK-4FMS ( ).

3 Agenda Thursday, April 21, :00 am Registration and Continental Breakfast 8:30 am to 5:00 pm Introduction Lending function overview Roles and responsibilities of credit Board and management oversight Policy review Segregation of duties Loan Documentation Standards Residential loan Consumer loan Construction loan Commercial real estate loan Commercial and industrial loans Appraisals FFIEC appraisal requirements Allowance for Loan and Lease Loss (ALLL) Principles and practices Components New ALLL guidance Friday, April 22, :00 am Continental Breakfast 8:30 am to 12:00 pm Loan Review Function Segregating the roles internal audit and loan review Differentiating the audit in-house vs. outsourced loan review Participation Loans Roles and responsibilities of each institution Determining and evaluating the underlying risks Deferred Fees and Costs Key concepts Underlying risks and audit process Other External Risk Factors and Hot Topics Impaired Loans Key concepts Troubled Debt Restructurings (TDRs) Other Real Estate Owned (OREO) Definition of OREO Maintaining and accounting for OREO Classification on ALLL Loan Confirmations Common types Auditing the risk of confirmations

4 Faculty Scott Baranowski, CIA, Director of Internal Audit Services Scott Baranowski, CIA is Member of the Firm and serves as the Director of the Internal Audit Services group at Wolf & Company, P.C. Scott oversees and manages a team of professionals who utilize a risk-based approach, best practices methodology, and state-of-the-art technologies to provide effective and efficient programs customized to meet client needs in internal audit, risk management, and SOX compliance. Scott joined Wolf in 2003 and has nearly 20 years of experience in providing internal audit and risk management services to various organizations. Prior to joining Wolf, Scott held management and internal audit positions at a credit union with over $500 million in assets, an international accounting firm, Fleet, and its predecessors BankBoston and BayBank. Dan Morrill, CPA, Director of Professional Practice Dan Morrill, CPA is a Principal in Wolf s Professional Practice group. Dan conducts training on technical issues, performs quality control reviews, leads Wolf s Audit and Accounting Committee, participates in learning and development initiatives, and conducts technical research for the firm. He is a CPA with over 15 years of experience providing audit and other assurance services to community financial institutions, including SEC registrants, non-profit entities, and pension plans. His expertise includes working with clients to resolve audit and accounting issues with respect to the Federal Deposit Insurance Corporation (FDIC), the Financial Accounting Standards Board (FASB), the Public Company Accounting Oversight Board (PCAOB), and the Securities and Exchange Commission regulations (SEC). Details Location and Accommodations Loews Royal Pacific Resort at Universal Orlando 6300 Hollywood Way Orlando, FL Special FMS Room Rate: $209 Single/Double Deadline for Rate: March 28, 2016 For Reservations Call: Identify yourself as an attendee of the Financial Managers Society program to receive the preferred rate. If you are making reservations through a travel agent, be sure to request that your reservation be placed in the FMS room block to guarantee the best rate. CPE Credit Earn up to 13 hours of CPE credit Level: Basic to Intermediate Prerequisites: None Advance preparation: None Field of Study: Auditing Instructional Method: Live-Group FMS is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses. Complaints regarding sponsors may be addressed to: The National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville, TN Web: For more information regarding administrative policies such as complaints or refunds, call 800-ASK-4FMS ( ).

5 Registration 3 WAYS TO REGISTER QUESTIONS? Call 800-ASK-4FMS ( ) Mail: Financial Managers Society 1 North LaSalle Street, Suite 3100 Chicago, IL Fax: Internet: NAME TITLE ORGANIZATION MAILING ADDRESS CITY, STATE, ZIP ASSET SIZE PHONE FAX REGISTER Please select from one of the following options. Call for details about team discounts. Save $100 with a Members-only Team Discount! FMS members and their co-workers save $100 each when two or more employees register for this seminar. Simply complete one form per person and deduct $100 from each registration fee. Internal Audit of Credit and Lending Operations Apr FMS Member: $975 $ Coworker of Member: $1,075 $ Nonmember: $1,375 $ Please list any special accommodations (including dietary restrictions) you require. Not an FMS member? Join now and save on registration! FMS Regular Membership: $475 $ FMS Affiliate Membership: $495 $ Join FMS today at and not only will you save $300 on the registration fees but you can also take advantage of the year-round FMS member benefits. TOTAL $ METHOD OF PAYMENT Payment must accompany registration. o Check enclosed payable to Financial Managers Society o Charge my MasterCard, Visa or American Express Card # Exp. Date Signature Refunds and Cancellations A refund minus a $150 processing fee will be provided for cancellations received by FMS in writing by March 28, No refunds will be given for cancellations received after that date. A substitution from your institution is welcome at any time. FMS reserves the right to change instructors or reschedule/cancel sessions when necessary. FMS is not responsible for airfare penalties incurred due to the cancellation of the program.

6 1 North LaSalle Street, Suite 3100 Chicago, IL ASK-4FMS ( ) This was an excellent class! Great interaction with other banks and credit unions, and speakers were knowledgeable and kept things fun and interesting! 2015 Internal Audit of Credit & Lending Attendee Presorted Standard U.S. Postage PAID Wheeling, IL Permit No. 38