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Flood Insurance Compliance—From Stormy to Sunshine
Webinar
11 AM CT
Presenter(s): Kenneth Agle
Duration: 1 hour
Pricing:
Live, Digital Download or CD
combos available for an additional $50
$299 - (full-price, no discount)
$249 - (for Affiliation Members)
The flood insurance regulation contains enough grey areas to make you worry. Institutions that fail to dot the “i’s” and cross the “t’s” can find they have violated a requirement, subjecting the institution to financial penalties and future regulatory scrutiny. Few regulations can materially and simultaneously impact both compliance and safety and soundness as the Flood rules do. If a flood occurs in a designated flood zone, the borrower who fails to obtain required insurance is exposed to material losses which could then impact your institution. The threat of this happening has prompted the regulators to increase pressure on compliance with flood insurance requirements.
Our expert can help you prepare for your regulatory examination during which your examiner will be scrutinizing both the substance and form of your compliance efforts. This session will provide:
- A thorough overview of the regulations, the requirements, the interagency questions and answers, and revisions.
- The nuances of Flood Insurance and why these are often the most crucial for your bank.
- The proper way to complete various forms to avoid common violations.
- Guidance on the most common and uncommon technical and substantive violations and how to avoid them.
- Key program weaknesses and how they undermine Flood Insurance coverage and what your institution can do to avoid those weaknesses.
- Actions your institution can take to promote a positive outcome from your flood insurance examination.
BIO: Kenneth Agle
As President/CEO of Counter Risk Group, Mr. Agle brings over 20 years of banking experience covering numerous facets of banking operations. Mr. Agle specializes in strategic regulatory response and in developing and implementing both proactive and reactive tools and systems to preempt and resolve issues affecting today’s financial institution. Prior to launching his own consulting firm, Mr. Agle had been a bank examiner with the FDIC. As a commissioned examiner, Mr. Agle was principally involved in numerous examinations, including Safety and Soundness, Compliance, BSA, IT and Trust.
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