The Puerto Rico Bankers Association, association with the Federal Deposit Insurance Corporation, recently offered the 9th edition of the “Minority Depository Institution Training Seminar” on the island, trade group Executive Vice President Zoimé Álvarez-Rubio said.
Recent changes in the federal regulatory framework and how they impact the services and operations of financial institutions operating in Puerto Rico were discussed during the training seminar aimed at compliance officers, legal representatives of the banking industry, internal and external auditors, service providers and quality and internal control officers.
This year’s program included lectures and workshops on key challenges and developments in the context of compliance, including regulatory reform and its impact on regulatory risk management, she said.
“We hope that this annual educational seminar that was prepared with the FDIC was of benefit to all compliance officers and members of the banking industry. We also expect that it serves as a guide for effective implementation and management of the regulatory changes in the institutions and among the services they provide to consumers,” Álvarez-Rubio said.
The seminar also offered the FDIC with “an excellent vehicle to educate and provide technical support to the executives of local financial institutions regarding the latest developments in the regulatory framework in an efficient and effective manner,” said Scott D. Strockoz, deputy regional director for the FDIC’s New York regional office.
The topics discussed during the seminar were chosen by compliance officers to strengthen their knowledge of the new provisions of the federal regulatory framework. The majority of the workshops were offered by FDIC staff and benefited Bankers Association member banks and financial institutions not affiliated with the entity.