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Diversity Self-Assessments: Understanding Your Requirements Under Dodd Frank Section 342
Webinar | 1 Hour | CE Credits: 1.25
Dodd-Frank's Section 342 mandated the creation of the Office of Minority and Women Inclusion (OMWI). This office is tasked with developing the standards for diverse policies and practices applied to financial institutions regulated by the federal banking agencies. The goal of the standards is to "promote transparency and awareness of diversity policies and practices." An Interagency Policy Statement, effective June 10, 2015, was issued to outline expectations and help institutions comply with requirements. Institutions are required to understand these standards and perform a diversity self-assessment of their institution.
In August 2016, the final piece of the puzzle was released. Diversity self-assessments will now be collected and used by the federal banking agencies to "monitor diversity and inclusion trends and identify leading policies and practices in the financial services industry."
This session will explore the Final Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies and how you can apply these standards to your institution.
•What types of institutions are required to perform self-assessments?
•What resources and guidance is available to help me through this process?
•Will I have to put new processes in place to collect this information?
•How do these requirements affect other regulatory requirements, like ECOA & FHA?
•Are you required to share self-assessments with the public? Regulators?
•What areas of our institution are subject to self-assessments? Lending? Personnel? Third Parties?
•What should the self-assessment look like?
•Who should be involved in the self-assessment process?
•And much, much more . . .
Who Should Attend
This informative session is designed for executive management, compliance officers and staff, human resources managers and staff, risk managers and staff, retail banking management, operations management, and internal audit managers and staff.
Brandy Lalla, CRCM, CAMS, CIA is a compliance consultant, who owns The Compliance Company in New Orleans. She has over 18 years of financial industry experience working in various areas of both national and community banks, including in the Internal Audit and Compliance areas. She earned a bachelor's degree in Accounting from the University of New Orleans and designations as a Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (CAMS), and Certified Internal Auditor (CIA). Brandy specializes in Bank Secrecy Act, deposit and operations compliance.
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