2020-01 January – Consumer Compliance Rating System and a Winning Culture of Compliance
A winning culture of compliance is not just the job of your Compliance Department. Rather, it is important that everyone throughout your organization knows that they have daily compliance responsibilities, and it starts with you at the top. Regulators and Examiners are looking to the Board of Directors to set the tone for the rest of their organization so that every employee can confidently follow the rules of our highly regulated industry. Your Financial Institutions provide so much to the communities you serve, and if compliance is not managed correctly, then you risk harm to your consumers and could potentially face devastating penalties. In this session, the components of the Consumer Compliance Rating System (CCRS) will be discussed as well as how these principles will help you lead your organization into a winning culture of compliance.
– The Importance of Responsible Business Conduct
– Creating a Competitive Advantage with a Holistic Compliance Approach
– Determining your Institution’s Risk Tolerance
– Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) Penalties
– Principles of the Consumer Compliance Rating System (CCRS) and its Components
– Board Oversight and Change Management