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The FFIEC has finalized the new Consumer Compliance Rating System, and it will become effective March 31, 2017. It emphasizes the importance of a compliance management system (CMS). The agencies developed a consistent way to rate all institutions after an examination – and have it relate to their risk profile. It’s important to know what is new, what is the same, and what examiners will expect! The new rating system will test the CMS, risk rate the institution, and test the processes the compliance officer has in place to control risk and eliminate the possibility of consumer harm – a major area of regulatory concern.
Having a standard compliance policy is no longer enough. There are now three pillars to the rating system. This webinar will explore the new guidelines for the first two pillars: board/management oversight and the compliance management program. (Part 2 of this series will cover the third pillar: violations of law and consumer harm. See information below.)
HIGHLIGHTS
Board & Management Oversight
Oversight and commitment
Change management – an important and required component
Comprehension, identification, and management of risk
Board reporting by the compliance officer
Compliance Management Program
Policies and procedures
Training
Monitoring and/or audit
Complaint policy
Consumer complaint response
TAKE-AWAY TOOLKIT
Sample compliance risk assessment
Sample training schedule
Outline for a compliance management system policy
Sample board reporting schedule
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS PART 2!
This program is the first of two in a series. Watch for Part 2 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Violations of Law & Consumer Harm on Friday, February 17, 2017
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Compliance officers, senior management, auditors, and compliance councils/committees.
ABOUT THE PRESENTER – Ann Brode-Harner, Brode Consulting Services, Inc., began her career in 1973 and has continued her service as a consultant to regional and community financial institutions through a wide range of areas including strategic planning, lending, deposits, marketing, training, compliance, and management. Ann is a well-respected presenter and has spoken to audiences across the country for over 25 years. She has presented sessions for numerous state associations and has taught at the School of Banking Administration at the University of Wisconsin as well as many other state banking schools. Ann is the author of “The Bank Deposit Documentation Manual for Front-Line Personnel” published by Bankers Publishing Company, and is well represented in numerous industry publications.
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