Professional Bio

Lyn Farrell and Carl Pry to Speak at Texas Bankers Association
Date: January 31, 2012
Time: 9:00 AM - 3:00 PM
Location: Richardson Hyatt Hotel, Richardson, TX

Date: February 2, 2012
Time: 9:00 AM - 3:00 PM
Location: Marriott Northwest, San Antonio, TX

Topic: Compliance Management for the Dodd-Frank Era

The Dodd-Frank Act and the reaction of the federal banking agencies have fundamentally changed the way compliance programs must function. For example, the increase in UDAAP (Unfair, Deceptive or Abusive Acts or Practices) enforcement by the federal regulatory agencies has changed the way successful bank compliance programs must be managed. Enforcement is subjective and broadly applied, targeting practices that occur "between the cracks.” While compliance functions are operating from checklists and testing programs that are tied to specific regulations, violations are being cited in operational areas outside of the bank's scope. These factors all make UDAAP compliance a moving and challenging target.

This session explores how compliance management must evolve to meet these types of challenges. Regulatory compliance must move beyond subject matter expertise to acquire more diverse skill sets and better integration with the other areas of the bank-particularly risk management functions. Smart chief compliance officers will utilize technology more than ever to identify problems. Piling on processes and procedures and hiring more people will be unacceptable to management in these times of revenue reduction. Compliance managers must use process improvement methodologies to see the waste in their programs and work to eliminate it whenever possible, without sacrificing effectiveness.

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