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Survive the Compliance Tsunami - Examiner Insights on Risk Assessments

Survive the Compliance Tsunami - Examiner Insights on Risk Assessments

Posted by Andy Barksdale on Aug 19, 2013 10:33:00 AM
Andy Barksdale

Through the years, many financial institutions have expanded the scope, complexity, and nature of their business activities.  At the same time, compliance requirements with these and general banking activities have become more complex.  In today's regulatory environment, risk assessments are the foundation of an effective compliance management program. Are you properly assessing the risk within your organization?  Join Tuesday's regulator sponsored webinar to gain insights on your approach.

OutlookLiveWebinarRiskAssessments

The scope and frequency of compliance monitoring and testing should be a function of the assessment of the compliance risk within your organization.  On Tuesday August 20th, the regulators plan to provide examiner insights on possible ways to conduct consumer compliance risk assessments.  

The Conducting Consumer Compliance Risk Assessments - Examiner Insights webinar should be a great opportunity to hear how the examiners recommend you approach the process of evaluating consumer compliance risk within your organization.  Here are the topics that will be covered on the Tuesday call:

  • What are risk assessments and why they are important?
  • Suggestions on ways to complete a risk assessment for a business line or product
  • Suggestions on ways to complete a risk assessment for a specific department
  • Risk assessment red flags
Outlook Live Webinar Specifics:
 
A recent article in the ABA Banking Journal highlighted the "Compliance Tsunami" and how to survive it (click here).  The best way to deal with compliance overwhelm is to prioritize your efforts.  The best way to prioritize, is through a risk assessment.  
 
Said differently, risk assessments help organizations effectively focus time, effort and energy.  While the regulators agree that there is not a single, "right way" to conduct a risk assessment, Tuesday's call should be a great opportunity to bring clarity to gain valuable insights into your approach.
 
 
 
 

Topics: Banks, Risk, News & Updates, Credit Unions, Compliance, Mortgage Lenders

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