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AFB Seminar: What are the Expectations of the Regulators of Internal Audit Plans in the UK, EU and other Jurisdictions?

Please note: This event is being held in-person at EY’s offices in Canary Wharf.

This seminar will offer representatives of internal audit functions the opportunity to hear about the expectations of the UK regulators as to what is included in an audit plan in contrast to the rules/expectations in other jurisdictions such as the EU. The session, held in partnership with EY, will focus on the following key topics:

  • Booking Arrangements for Third Country Branches
  • Operational Resilience 

The section on booking arrangements will look at the PRA’s expectations (from an internal audit perspective) of international banks’ subsidiaries and branches, including risk management and controls as set out in the PRA’s Supervisory Statement 5/21. EY will also cover (from an internal audit perspective) the revisions to the EU Capital Requirements Directive (CRDVI) for bank branches, including its proposed new booking requirements.

This event will also consider operational resilience and the role internal audit functions will have in meeting the UK regulator’s expectations from implementation in 2025 alongside the requirements of the EU Digital Operational Resilience Act (DORA).

Attendance at the seminar will be limited to 40 (two representatives per bank) and there will be an opportunity for attendees to share their views during a Q&A section.

Who should attend?

This session is aimed at members of the internal audit at AFB members who are interested in getting a view of how the UK regulatory requirements differ from other jurisdictions and how to approach the creation of audit plans.

What will members gain for use at their bank?

  • An understanding of how the PRA expects the audit functions of international banks in the UK to approach the operation of an audit plan
  • An awareness of the impact of DORA on the regulatory expectations for IA functions
  • An awareness of the impact of CRD VI and its booking requirements for international bank branches

Speakers

Corinne Kaufman – Corinne is a Director in the Regulatory Insights team within EY’s Financial Services Risk Consulting. She provides strategic support to various UK and international banking groups, including on the differences in regulatory approaches between EU and UK banking regulation. Prior to joining EY, she was a banking regulator for over 25 years, working at the Bank of England, UK Financial Services Authority and the European Banking Authority (EBA), where she headed its Policy Analysis and Coordination Unit.

Pranathi Praveen – Pranathi is a Senior Manager in EY’s FS Consulting practice with extensive experience working with clients and industry bodies across the financial services sector on Operational Resilience. She is a key member of EY’s Operational Resilience Solution team, working with clients and industry bodies to shape the sector’s response and build forward looking solutions.​ She also currently leads our EMEIA Financial Services DORA Centre of Excellence.

Jonathan Clarke – Jonathan is a Manager in the EY Consulting practice; his focus is on Enterprise Resilience across the financial services sector. He has experience supporting clients on global, cross-functional Enterprise Resilience engagements, ensuring they comply with Operational Resilience related regulatory expectations, including UK FCA/PRA and EU DORA.

Logistics

Fee:          Included in AFB membership (no fee)

Format:    In person at:  EY Canary Wharf, 25 Churchill Place, E14 5EY

Date:        Tuesday, 5 March 2024

Time:        16:00 – 17:15 (refreshments/ networking from 15:30 to 16:00)

If you would like to submit a question before or have any specific questions or areas that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk You will receive details on how to join the session a week before the event.