Optional Bank Audit Committee Primer
(There is an additional fee for this program)

The Bank Audit Committee Primer, led by Patricia L. Langiotti, chair of the director’s enterprise risk committee and former audit committee chair for National Penn Bancshares Inc., and Lawrence W. Schwartz, audit committee member for Annapolis Bancorp Inc. and audit committee chairman for First Virginia Community Bank, is designed for both newer audit committee members and chairpersons, as well as for those seasoned audit committee members who might enjoy taking advantage of a unique, interactive learning opportunity.  The Primer will provide excellent preparation and context to enhance the learning experience for attendees at the conference to follow.

9:30 a.m. – 10:00 a.m. 
Registration

10:00 a.m. – 12:30 p.m. 
SESSION I
Everything You Ever Wanted to Know about Audit Committee Membership
-  Why an Audit Committee?
-  What is the Role of the Audit Committee and How has it Evolved Over Time?
-  Characteristics of High Performing Audit Committees - What Works?  What Doesn’t?

Developing and Using the Audit Committee Charter-Formulating Your Plan and Using the Charter to Guide You on Your Way
-  Discussion of Key Charter Elements  (Samples provided)
-  Using the Charter to Discharge your Duties
-  Typical Meeting Structure

Primary Duties and Responsibilities of Audit Committee Members
-  Managing Risk, Internal Controls
-  Monitoring Legal and Regulatory Compliance, Reports from Third Parties, Financial Reporting
-  Engaging and Monitoring Performance of Independent External Auditors

12:30 p.m. – 1:15 p.m. 
Lunch

1:15 p.m. – 4:00 p.m.
Session II
An Overview of the Audit Committee’s Role In:
-  Compensation Oversight
-  The Whistleblower Process
-  Earnings Releases and Other Public Communications

Audit Committee’s Relationship With:
-  Board of Directors, Lead Independent Director (or Independent Chair), other Committee Chairs,      
   Regulators and Examiners, Bank Management, the Director of Internal Audit
-  The Role of the Audit Committee Chairperson – Interface with Bank Management and other Board 
   Level Committees
-  The Audit Committee’s Role in Risk Management – A Look at Different Organizational Management
   Options
-  Formulating and Formalizing Your Risk Appetite and Connecting This to Your Strategic Plan – 
   Connecting All the Dots

When the Internal Audit Function is Outsourced or Co-Sourced 
John F. White, CEO of ICS Risk Advisors, our Primer sponsor, will lead this discussion topic.

4:00 p.m. – 5:00 p.m. 
Session III
It’s a Whole New World… The Changing Financial and Regulatory Environment. Open Discussion about New and Emerging Audit Committee Concerns – What Keeps You Up at Night? 
Opportunity for you to get answers to your Audit Committee questions, and gain insights into the challenges you face. Learn what others consider to be their “best practices.”

• Managing Asset Quality
• Goodwill Impairment
• The Art and the Science of ALL Calculations
• Capital Adequacy
• The Competitive Marketplace and Impact on Risk
• Increased Regulatory Scrutiny
• Public Relations Challenges – Shareholder Opinions and the Public’s Changed Perceptions about Banking and Bankers

5:00 p.m. – 6:00 p.m. 
Bank Audit Committee Primer + Peer Exchange Reception
Sponsored by:

Optional Bank Audit Committee Peer Exchange
(There is an additional fee for this program)

More experienced audit committee chairs and members are invited to participate in the Bank Audit Committee Peer Exchange program, which will run concurrently to the Primer on Wednesday, June 6. The Peer Exchange will allow participants the opportunity to share insights and solutions with their peers while discussing critical issues and challenges facing their audit committees, such as the board's role in the oversight of risk management, interaction with other board committees and other topics received from feed-back from attendees, all in a closed-door, off-the record setting.  

9:00 a.m. – 9:30 a.m. 
Registration

9:30 a.m. - 9:45 a.m.
Welcome

9:45 a.m. – 12:30 p.m. 
Peer Exchange Sessions
This is a unique forum for bank audit committee chairs and members only as participants will be divided based on their bank’s asset size to share challenges and solutions with their peers.  Prior to the event, Bank Director will solicit input from participants to develop the most relevant agenda.  Each group will include an attorney and an accounting firm representative to serve as an as-needed resource for the day’s discussions.

12:30 p.m. – 1:30 p.m. 
Lunch

1:30 p.m. – 4:30 p.m. 
Peer Exchange Sessions Resume

4:30 p.m. – 5:00 p.m. 
General Session

5:00 p.m. – 6:00 p.m. 
Bank Audit Committee Primer + Peer Exchange Reception
Sponsored by: