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Are you equipped to handle FDICIA compliance requirements?

Sep 30, 2020

Are you equipped to handle FDICIA compliance requirements?

In general, most bankers are aware of the significance of crossing the $1 billion asset threshold. Whether achieved through organic growth or through a merger or acquisition, it’s a milestone that presents a host of new opportunities.

However, crossing the $1 billion threshold also introduces another issue in that institutions become subject to the requirements of Section 36 of the Federal Deposit Insurance Corporation Improvement Act (FDICIA). Though increasingly relevant in today’s market, the rules set forth by FDICIA are anything but new. A lack of adequate preparation for FDICIA compliance is usually due to a bank’s limited understanding of the time-consuming process to be compliant, but the requirements need to be on their radar well before they hit the asset size threshold.

Remaining compliant during the transition to a $1 billion bank requires a more sophisticated risk management structure, which includes the appropriate personnel, as well as accurately documented and effective processes and procedures. In the absence of this, FDICIA compliance is challenging to achieve and, unfortunately, many bankers find themselves on the cusp of the asset threshold only to discover that they are woefully unprepared for the transition.

During this recorded webinar, we covered:

  • What is FDICIA, and why is it important
  • Practical steps to start taking before assets hit $1 billion
  • Changes in audit requirements and reporting complexities
  • How to avoid the most common pitfalls in preparing for FDICIA compliance
  • Responsibilities of different parties: Management/Internal Audit, Board/Audit Committee, External Audit, etc.
  • The importance of IT FDICIA compliance
  • And more

This webinar was designed for President/CEO, CIO, Controller, Internal Audit Director, and Chief Risk Offer positions.

Watch part 2 of this webinar series here.


Carrie Connell, CPA
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Sonny MacArthur, CPA, CIA
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Senior Manager
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