All in Compliance Management

Annual Director Training Requirements

Annual Director Training Requirements

Adam Witmer
Compliance Management

Adam uses this Compliance Clip (video) to review the annual compliance training requirements for directors - or lack thereof. That said, there are a few expectations regulators have had for director training, and Adam explains some of these topics and reminds viewers of a few annual reports that do need to go to the board.

CFPB Summer 2019 Edition of Supervisory Highlights

Adam Witmer
Regulatory Update, Compliance Management

The CFPB has released the summer 2019 Edition of Supervisory Highlights. In this issue, topics include UDAAPs, auto loans, Supervision, compliance, credit cards, credit reports and scores, debt collection, Fair Credit Reporting Act, mortgage origination. The full version of Supervisory Highlights can be found here.

As you might expect, we will be coving the portions of Supervisory Highlights that relate to compliance professionals in our next Quarterly Compliance Update. You can view the tentative curriculum for our Q3 2019 Quarterly Compliance Update here.

A Compliance Management System Example

Adam Witmer
Compliance Management

This is a guest post by one of our Cohort members, Theresa Zuber.  Theresa is the VP/Compliance Officer at a $450 million community bank and shares her years of experience in banking by providing us with an example of things to consider in building and designing a compliance management system. ——

Between policy reviews, risk analysis, board reporting, annual training, complaint tracking and documentation for examiners, it can be difficult to keep track of all the individual tasks and responsibilities found within a Compliance Management System (CMS).  In fact, keeping a CMS going can sometimes feel more like a juggling act than banking. Therefore, we have the following Compliance Management System example to give you the framework you need to take control of your Compliance duties and ensure nothing slips through the cracks.  

3 Great Bank Compliance Officer Certifications

Adam Witmer
Compliance Management

As we work to build careers in regulatory compliance, we often look for opportunities to become more valuable to our organizations and to establish ourselves as experts.  While experience and self-learned technical expertise is a must for any compliance professional, finding a way to be recognized as an industry leader can help to establish credibility with both examiners and peers.  One way to do this is to obtain a professional regulatory compliance certification.  This article explores 3 options for obtaining a regulatory compliance certification.

URLA Implementation Date Delayed Again

Adam Witmer
Regulatory Update, Compliance Management

On June 12, 2019, the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form has been delayed again.  It was planned that the redesigned URLA could be used starting on July 1, 2019 with required use by January 1, 2020. This announcement delays the optional use period for the new URLA, meaning that lenders should not yet begin using this form. 

How Difficult is it to Obtain the CRCM Certification?

Adam Witmer
Compliance Management

The Certified Regulatory Compliance Manager (CRCM) certification is one of the most respected and well recognized certifications for a banking compliance professional.  This respect and recognition doesn’t come just because the CRCM is earned through the American Bankers Association (ABA) - or because many of the top compliance professionals and consultants have this certification.  The CRCM certification is a valued credential because of the difficulty to obtain the designation, meaning that not just anyone can obtain their CRCM.

To explain, the difficulty of the CRCM certification results from four main things: experience qualifications, knowledge of content, taking the actual test, and maintaining the certification.

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