Day 1: Monitoring Plan and Obligations Calendar

Monitoring and Reporting Duties

• Identify recurring event-driven and deadline-based obligations
• Link duties with owners/data sources
• Set preparation lead times before deadlines
• Build an annual compliance calendar

Monitoring Strategic Priorities

• Estimate noncompliance exposure by topic
• Increase testing depth where exceptions recur
• Reduce frequency for stable lower-risk controls
• Design a quarterly monitoring plan

Compliance Evidence and Traceability

• Identify documents or records demonstrating performance
• Retain approved versions with dates
• Link exceptions with evidence/follow-up actions
• Create evidence file for selected requirement

Day 2: Testing, Exceptions, and Data Quality

Applied Compliance Tests

• Select tests aligned with obligation exposure
• Test accuracy completeness timeliness and approval
• Document test results for independent review
• Apply test to a transaction population

Performance Exception Management

• Classify exceptions by effect, frequency, duration
• Separate immediate correction from root-cause remediation
• Escalate matters affecting external reporting
• Maintain an exception and action register

Regulatory Data Quality

• Identify data owners and transformation paths
• Reconcile systems before regulatory submission
• Control and review manual adjustments
• Review a data package containing inconsistencies

Day 3: Report Preparation, Review, and Escalation

Regulatory Reporting Pack

• Link fields to source/calculation rules
• Define required supporting attachments and disclosures
• Retain audit trail of changes/reviews
• Prepare a fully traceable reporting file

Review and Approval

• Separate preparation review and approval roles
• Use quality checklist before final sign-off
• Avoid ceremonial approval under deadline pressure
• Simulate review of a sensitive report

Communication with Management and Regulators

• Explain delays or corrections without concealment
• Identify issues requiring urgent notification
• Maintain records of correspondence and decisions
• Draft an internal briefing before submission

• Compliance calendars linking deadlines with owners and evidence
• Sample-based testing exposing exceptions and control quality
• Data reconciliation and regulatory-report package exercises
• A review and approval simulation under deadline pressure