NEW: Hinter den Kulissen der neuen BAIT - Neue Anforderungen und prüfungsrelevanter Handlungsbedarf bei Banken

The Federal Financial Supervisory Authority (BaFin) is expected to publish a new version of BAIT at the beginning of 2021. In the meantime, the expected contents have been clarified as far as possible. In revising BAIT, BaFin has also significantly incorporated the insights gained from the institutions' auditing practice, thus concretising its expectations regarding the design of procedures and processes in the subject areas covered by BAIT. Experience with BAIT audits already carried out shows that the solutions developed in the institutes on the basis of the "old" BAIT often do not meet the expectations of the (external) auditors, which leads to findings that are sometimes serious.

Since the new additional requirements and the concretisation and detailing of the existing requirements are becoming highly relevant to the audit, an internal view of the requirements and their implementation requirements that is aligned with supervisory expectations is indispensable to avoid findings.

The event is designed to help participants gain an initial understanding of the expected changes and their intended direction and scope. As the textual innovations and amended or extended passages are of a purely quantitative "manageable" scope, the first impression may arise that this also applies to the "qualitative" scope of the expected changes. However, this is not the case and the requirements, some of which are very far-reaching in terms of content, have so far partly been presented as individual word additions or inserted half-sentences.

The analysis of the main changes during the event therefore also incorporates findings from BAIT examinations that have already been carried out, which are put into context with the new requirements.

The workshop will be led by Christian Moerler, managing director of Severn Consultancy GmbH, Frankfurt. He has 20 years of management experience in the international financial market and is responsible for numerous projects critical to success in the implementation of regulatory requirements in leading financial companies. He regularly accompanies the preparation and implementation of §44 special audits and annual audits as well as the implementation of projects to restore regulatory compliance after audits have been carried out.

The requirements discussed at the event may also contribute to improving the audit situation of the institution in the course of the 2020 annual audit. This applies in particular to the gap analysis of the new BAIT, which is already being demanded by auditors of annual financial statements.

The target group of the event are managing directors as well as department heads of the specialist areas of information technology, information security management, compliance, information risk management, auditing and outsourcing management of BdB member institutions and other credit institutions "typically" affected by BAIT topics.

The participants will be given the opportunity to discuss practical issues in the context of an exchange of experience and to get to know concrete impulses and best practices for their own institution.

Due to the abundance and depth of the topics, this event can and will only provide an overall "overview" of the changes and their recommended consideration in the design of the procedures and processes concerned. If the institutes are interested, it is planned to offer follow-up events with thematic deepening and more detailed solution recommendations in the near future.

Please note, webinar language is German.

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