This session was open to newer audit and risk committee members and chairs – as well as seasoned members and chairs who wanted a refresher.  It was also a great fit for internal audit and risk staff and those that are contemplating the formation of a separate risk committee.

Pat Langiotti, Chair of the Director’s Enterprise Risk Committee and former Audit Committee Chair for National Penn Bancshares, Inc., and Larry Schwartz, Audit Committee Chair for First Virginia Community Bank, led the Bank Audit & Risk Committees Primer.

The objective of this event was to demystify the roles of the audit and risk committees, to equip you to perform effectively and sustainably as a committee member/chair, to give you confidence in the execution of your duties and to provide you context in order to maximize your overall conference experience.

The Bank Audit & Risk Committees Primer shared everything you ever wanted to know about serving on an Audit & Risk Committee – or serving as a committee chair – and how the new committee structure is evolving.

This was a non-threatening learning environment where peer input and opinions were not only welcomed, but strongly encouraged.


9:30 a.m. – 10:00 a.m.

10:00 a.m. – 12:30 p.m.
Session I:  The Evolution of the Audit and Risk Committee Roles and Responsibilities

Topics include:

  • Evolution of Audit and Risk Committees
  • Developing and Using Committee Charters
  • Duties and Responsibilities of Committee Members
  • Financial Reporting Risk vs. Enterprise Risk

Session II:  An Overview of the Roles and Responsibilities of Audit Committee Members

Topics include:

  • Role of the Audit Committee vs. Role of the Risk Committee
  • Directional Focus of Audit and Risk Committee
  • The Committee Charter
  • Characteristics of a High-Performing Audit Committee
  • Size, Meeting Structure, Attendees, Agenda Topics, Duties
  • The Whistleblower Program
  • Committee’s Role in Public Communications, the Strategic Plan and Compensation Oversight
  • The Committee’s Relationship with Others
  • When Audit is Outsourced or Co-Sourced

12:30 p.m. – 1:15 p.m.

1:15 p.m. – 4:00 p.m.
Session III:  An Overview of the Roles and Responsibilities of Risk Committee Members

Topics Include:

  • What is ERM?  Fundamental Concepts
  • Risk Management as Forward Looking vs. Audit as Looking Back
  • Risk Oversight of Non-Financial Statement Matters
  • Role of Committee Members
  • How ERM Differs from Audit
  • Audit and Risk Interface – So Nothing Falls Through the Cracks
  • The Risk Appetite Statement
  • Characteristics of a High Performing Risk Management Committee
  • Risk Based Audit vs. Risk Management

4:00 p.m. – 5:00 p.m.
Session IV:  The Changing Financial and Regulatory Environment & Emerging Issues

Topics Include:

  • What Keeps YOU Awake at Night?
  • Participant Q&A
  • Resources that are Available
  • Wrap Up
  • Key Words
  • Principles or Rules-Based Audit/Risk Committees

5:00 p.m. – 6:00 p.m.
Cocktail Reception for Peer Exchange, Primer, Workship + Conference Attendees
Sponsored by:  WeiserMazars LLP