Preparing for a Successful Exam Checklist

This document is a checklist designed to guide financial institutions in preparing for an examination. It outlines steps to take before, during, and after the exam, ensuring compliance with regulatory requirements. The checklist begins with pre-exam preparations, such as informing the Board of Directors and senior management about the upcoming exam and reviewing past audit results. It emphasizes the importance of organizing request letter items and confirming the exam scope with examiners. During the exam, it highlights the necessity of maintaining clear communication with examiners and responding promptly to their requests. After the exam, the checklist suggests reviewing the examination report, addressing any findings, and updating the compliance program as necessary. It also includes recommendations for training staff and ensuring that all compliance documentation is current and board-approved. This comprehensive approach aims to facilitate a smooth examination process and enhance overall compliance within the financial institution.