June 25, 2021

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June 25, 2021

Features

Artificial Intelligence and the Pursuit of Compliance Program Optimization

For many compliance professionals, manual processes are not adequate to stay current.

WHY YOUR BANK NEEDS A CMS

Regulators have been emphasizing the importance of a strong and effective Compliance Management System. This whitepaper will walk you through the basics of a CMS while offering practical advice on how to ensure your CMS supports your strategic goals.Takeaways include:

·A primer on CMS requirements

·4 key elements to prioritize when designing or updating a CMS

·7 CMS features that should align with your bank’s goal and structure

·Examples of failed CMSs and compliance controls

CLICK HERE TO DOWNLOAD AND LEARN ABOUT OUR CMS SOFTWARE

Risk and Compliance News

OCC’s Hsu: Addressing Appraisal Bias Requires ‘Collective Effort’

Acting Comptroller of the Currency Michael Hsu told attendees at a CFPB roundtable that banks are being held accountable when they rely on housing appraisals that are discriminatory.

Agencies Release 2020 HMDA Data

The Federal Financial Institutions Examination Council has released the 2020 Home Mortgage Disclosure Act data on mortgage lending transactions at 4,475 financial institutions.

The Federal Financial Institutions Examination Council released updates to its Bank Secrecy Act/anti-money laundering examination manual. The updates—which do not establish new requirements—are intended to provide additional transparency and emphasize a risk-based approach to BSA/AML supervision.

Carollo Recognized with Distinguished Service Award

Maureen Carollo, SVP and director of compliance for Great Plains National Bank, received the Distinguished Service Award for compliance during the ABA’s Risk and Compliance Virtual Conference this week.

ABA Urges Additional Clarity on Model Risk Management for BSA/AML Compliance

ABA filed comments urging the federal banking agencies and the Financial Crimes Enforcement Network to provide additional guidance on how the 2011 "Supervisory Guidance on Model Risk Management," or MRMG, works in conjunction with Bank Secrecy Act/anti-money laundering and Office of Foreign Assets Control compliance.

In a reversal of existing policy, the Consumer Financial Protection Bureau issued an interpretive rule stating that it has statutory authority to conduct Military Lending Act supervision activities, and signaled that it will resume MLA examinations.

Crisis Response Management: Decoded

In an age of infinite information where a company’s reputation can be destroyed in as little as 140 characters, it may seem difficult to bounce back from a crisis, but it is possible. Businesses that are prepared for natural disasters or other incidents can protect themselves from serious financial losses, and keep their reputation and customer loyalty intact, if they have the right tools.

Download this e-book to explore

Training

July 8
Webinar: Best Practices for Monitoring Servicing Performance

July 14
Webinar: Best Practices for Conducting FCC Risk Assessments

July 28
Webinar: Strategies for Surviving Offsite Regulatory Examination

August 2 - 13
Virtual School: Risk Management School – Foundational

August 2 - September 3
Facilitated Training: Managing the Bank's Investment Portfolio

August 17 - 27
Virtual School: Risk Management School – Advanced

August 25
Webinar: Compliance Management for First-Line Operations

October 18-22
School: Compliance School – Foundational
Emory Conference Center Hotel, Atlanta

October 18-22
School: Compliance School – Advanced
Emory Conference Center Hotel, Atlanta