3a. ALL – Preparing for Regulatory Examinations (Intermediate)

This lab will focus on exploring best practices to prepare for and handle a regulatory exam from the time an exam is announced through the final exam report.   Industry peers will discuss the importance of creating a rapport with the exam team and share tips on how to manage the record production process and prepare for on-site or virtual interviews. Lab facilitators will share perspectives on managing complex requests, understanding potential and actual expectations or deficiencies, and communicating with business leaders on exam outcomes. The following learning objectives will be met using case studies, examples, group discussions, and other application activities:

• Explore ways to be prepared for various types of regulatory exams by establishing processes for tracking requests, adopting a consistent process, engaging in mock exams, and reviewing recent exam priorities and enforcement actions.

• Share best practices for communicating exceptions across the enterprise once a regulatory exam has launched. 

• Discuss how to manage and respond to difficult or voluminous requests, and what to do when a prior request needs to be amended or supplemented. 

• Learn how to put the firm in the best position when managing issues that may lead to deficiencies and/or referrals to enforcement and when to involve legal counsel.