Are you paying overdraft fees? This informative article discusses the current state of overdraft fee's and updated regulations for 2022.

This article discusses the need for financial institutions to have strong system validation models for BSA/AML and CECL compliance. 

A case for model validation in financial services processes 

Jim joined Baker Tilly in 2010 and is a firm director in the financial services risk, internal audit and cybersecurity group. Specializing in financial institutions, Jim has extensive experience providing internal audit, regulatory compliance, FDICIA and Sarbanes-Oxley 404 compliance, process improvement and general accounting to clients. Jim’s 25 years of experience includes working as an approved contractor with the FDIC as an investigations manager in determining liability for failed financial institutions.

Jim joined Baker Tilly in 2010 and is a firm director in the financial services risk, internal audit and cybersecurity group. Specializing in financial institutions, Jim has extensive experience providing internal audit, regulatory compliance, FDICIA and Sarbanes-Oxley 404 compliance, process improvement and general accounting to clients. 

Bachelor of Science in accounting and business

American Institute of Certified Public Accountants (AICPA)
Pennsylvania Institute of Certified Public Accountants (PICPA)

Plans, coordinates and manages client engagements for financial services companies including banks, credit unions and mortgage companies

Completes internal audit and compliance risk assessments to determine the associated risk levels of all banking processes

Identifies and communicates audit issues and value-added recommendations, including best practice opportunities to management

Drafts and issues audit reports outlining audit scope, testing completed, issues identified and recommendations to enhance the system of internal controls and operating procedures

Ensures all audits are conducted in accordance with the direction of the client’s audit committee and that all internal audits are conducted in accordance with professional standards

Financial Managers Society (FMS), Philadelphia Chapter

Risk Management Association (RMA), NJ and PA Chapters

Advanced Regulatory Compliance & Legal Support

Join Baker Tilly's Jim Jarrett as he speaks at the 2022 Financial Managers Society (FMS) annual conference on June 12 - 14 in Boca Raton, FL. Jim's informative session, Regulations, Governance and Compliance, oh my! will discuss finding the keys to implementing an effective model risk management program.  In his engaging session Jim will discuss one of the most commonly cited areas of examiner criticism, sound model risk management. Financial institutions should consistently review examiner guidance on model risk management programs to help learn how to implement an effective program. Improving the efficiency of implemented models is an ongoing regulator and compliance exercise. In his informative session Jim will walk through the keys to effective model risk management and the components of model validation, including: Reviewing regulatory requirements for a model risk management program Understanding best practices for model system validation Learning about tuning and optimizing models Gaining an understanding of structuring an appropriate governance program When: Monday, June 13 2:45 PM - 3:45 PM Register here today. 

James Jarrett

Location

Lehigh Valley, PA

Education

Expertise

James's latest insights

Overdraft fees and UDAAP

A case for model validation in financial services processes

James's upcoming events

Conference

2022 Financial managers society annual conference