Make examinations and independent audits go smoother through the development of a formal compliance monitoring program. Further, keep your Board of Directors regularly informed of risk trends and exposure through scheduled monitoring and reporting. Monitoring is the solution for future success.
No two financial institutions are alike, as variances arise due to the size, number of branches, and organizational structure; business strategy (e.g., community bank versus regional; or retail versus wholesale bank); types of products; type and extent of third-party relationships; and location of the institution— its main office and branches. However, elements of a sound compliance program should be readily identifiable. Monitoring is viewed as a proactive approach by the institution to identify procedural or training weaknesses in an effort to preclude regulatory violations.
That’s why LexisNexis | Sheshunoff has partnered with REGCOM/WIPFLi, a leader in regulatory compliance, to bring you Compliance Monitoring Program: A Great Investment in Your Institution’s Future. This unique event will teach you about the elements of a proactive compliance program. By including a compliance officer in the planning, development, and implementation of business propositions you’ll increase the likelihood of success of your compliance monitoring function.
An effective monitoring system includes regularly scheduled reviews of:
• disclosures and calculations for various product offerings;
• document filing and retention procedures;
• posted notices, marketing literature, and advertising;
• various state usury and consumer protection laws and regulations;
• third-party service provider operations; and
• internal compliance communication systems that provide updates and revisions of the applicable laws and regulations to management and staff.
Benefits
This session will help you:
• Establish a formal compliance monitoring system
• Develop a new approach for self-monitoring, whether by regulation or by product/service
• Identify the three lines of defense and where monitoring fits (it’s #1)
• Create viable supporting documentation and detailed support
Who Should Attend
• Compliance Officers
• Senior bank management
• Anyone with operational or lending responsibilities
• Auditors
• CEO