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Part 1 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Oversight & Compliance Management Program

Wednesday, January 25, 2017

12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

The FFIEC has finalized the new Consumer Compliance Rating System, and it will become effective March 31, 2017. It emphasizes the importance of a compliance management system (CMS). The agencies developed a consistent way to rate all institutions after an examination – and have it relate to their risk profile. It’s important to know what is new, what is the same, and what examiners will expect! The new rating system will test the CMS, risk rate the institution, and test the processes the compliance officer has in place to control risk and eliminate the possibility of consumer harm – a major area of regulatory concern.

Having a standard compliance policy is no longer enough. There are now three pillars to the rating system. This webinar will explore the new guidelines for the first two pillars: board/management oversight and the compliance management program. (Part 2 of this series will cover the third pillar: violations of law and consumer harm. See information below.)

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Board & Management Oversight
    • Oversight and commitment
    • Change management – an important and required component
    • Comprehension, identification, and management of risk
    • Board reporting by the compliance officer
  • Compliance Management Program
    • Policies and procedures
    • Training
    • Monitoring and/or audit
    • Complaint policy
    • Consumer complaint response

  • TAKE-AWAY TOOLKIT
    • Sample compliance risk assessment
    • Sample training schedule
    • Outline for a compliance management system policy
    • Sample board reporting schedule
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

PART 2 STILL AVAILABLE!

"Part 2 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017:
Violations of Law & Consumer Harm"

Friday, February 17, 2017

WHO SHOULD ATTEND?

This informative session is designed for compliance officers, senior management, auditors, and compliance councils/committees.

PLEASE NOTE: Webinar content is subject to copyright and intended for your individual financial institution’s use only.

MEET THE PRESENTER