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Compliance Risk Management
November 7, 2019 @ 8:30 am - 4:00 pm
A one-day seminar providing a comprehensive look at the details of a Compliance Risk Management Program (CRMP) and what to look for during an examination.
Although there are no regulatory requirements to have and maintain a robust CRMP, all financial institutions are expected to have one in place, commensurate with the institution’s size, complexity, location(s), etc. The CRMP plays a vital role in examining the organization for compliance.
This seminar will break down the CRMP, including what is a policy vs. procedure, monitoring vs. audit, training, complaint management, risk assessments, and how to risk assess the CRMP. The volume of regulatory changes requires a strong change management process in a CRMP – and we will review best practices for that, too!
At the core of any compliance risk management program are the risk assessments, including risk assessing the CRMP itself. We will dive into the CRMP risk assessment and explore its impact on examination scoping. We will wrap-up with the Uniform Interagency Consumer Compliance Rating System, which establishes a framework of compliance factors that examiners use during consumer compliance examinations to assess an institution’s performance.