Part 2 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017: Violations of Law & Consumer Harm
Monday, February 13, 2017
10:00 am – 11:30 am HST
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 which will become effective March 31, 2017. The new guidelines emphasize that having a standard compliance policy is no longer enough. There are now three pillars to the rating system. The first two pillars for compliance examinations and ratings (covering oversight and the compliance program) were reviewed in an earlier webinar (see link below).
This webinar will address the third pillar – violations and consumer harm. Most of the changes and new expectations are centered here and focus on consumer harm. Join us to learn how your compliance program should be structured and how to mitigate risks. Details of the new guidelines and examiner expectations will be addressed.
Continuing Education: Attendance verification for CE credits upon request
- Addressing the root cause(s) of violations identified by you, auditors, or examiners
- How to measure the consumer harm resulting from violations
- Determining the duration of time over which violations occurred – especially how long before they were identified
- How serious is the violation? Is it pervasive or an isolated incident?
- How do compliance officers identify, measure, monitor, and control violations of consumer harm?
- What is the process for reporting to the board of directors?
- TAKE-AWAY TOOLKIT
- Sample language for your compliance management system (CMS) policy
- Sample third pillar risk assessment to incorporate into your current risk assessment
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
PART 1 STILL AVAILABLE!"Part 1 – New FFIEC Consumer Compliance Rating System, Effective March 31, 2017:
Oversight & Compliance Management Program"
Monday, January 23, 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
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