A Year in the Life of a Compliance Officer

The number of regulations financial institutions are subject to is vast, while the number of hours in a day, week, and year are finite. Compliance officers (COs) must manage regulatory compliance dates (that can change on short notice), update policies and procedures to reflect new requirements, provide relevant information to staff, and stay informed about the next change, advisory, or guidance. In addition, COs manage and implement numerous regulation guidances and monitoring reports – all of which are designed to avoid consumer harm and compliance violations. Since COs often wear many hats, it’s easy for a monthly review or annual report to slip through the cracks. This session will journey through a year in the life of a compliance officer, including required training, risk assessments, reviews, reports, and audits. Useful tools, including a sample annual calendar, will be provided.

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