Bank Directors Seminar, Coeur d'Alene, ID

11/09/2018

Mandatory Board Considerations

• Understand drivers of financial performance

• Assess evolving risks related to changing technologies and market conditions • Monitor risks related to third-party relationships

• Understand the potential impact of business units and their risk on financial performance

Source: OCC.gov

• Monitor operations against trends and projections

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The Audit Committee’s Role

• Oversight of financial reporting • Oversee internal audit programs • Choose and

• Ensure compliance with relevant laws & regulations • Strong banking industry knowledge • Communication between Board and Management on key financial issues

communicate with external auditors

A Culture of Honesty

The Culture of Honesty must be ingrained into the organization’s objectives, actions, and strategies. It is more than words on paper.

• The three C’s

• Management must reflect the culture of honesty set by the board.

• Confidence • Competence • Character

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