Compliance Class: Spring 2024 Quarterly Compliance Update
Regulatory change management has become a pillar of an effective compliance management system, or CMS. Regulators expect financial institutions to have a system that allows them to both identify and then effectively implement regulatory changes so that it does not get behind on its compliance responsibilities which could lead to compliance deficiencies or worse, consumer harm.
In today’s environment, regulatory changes seem to happen on an almost daily basis, creating a burden of keeping up with regulatory activity that is greater than ever before. This means that financial institutions must spend great efforts and resources in keeping up with these changes, or they risk something falling through the cracks. Yet, compliance budgets are often extremely tight and have limited opportunities for additional staff to assist with the monitoring of regulatory changes. This is where outsourcing can be an extremely efficient and effective solution to regulatory change management.
While some financial institutions utilize internal resources to do all of the monitoring of regulatory changes, this isn’t usually cost effective when you add up the amount of time necessary to monitor - and understand - the change taking place, let alone determine if the changes actually apply to the organization. For this reason, we have created a Quarterly Compliance Update program that is designed to provide a quick and easy way to stay informed of the regulatory compliance activity that took place in the prior quarter. In other words, our quarterly compliance update program can assist you with your regulatory change management program for the fraction of the cost of hiring additional internal staff to assist with this function.
Each quarter, we release a new Quarterly Compliance Update program so that we are covering all of the regulatory changes that take place throughout the entire year. This is accomplished through our four Quarterly Compliance Updates: Winter, Spring, Summer, and Fall. Each new quarterly compliance update covers all of the regulatory activity for banks and credit unions (including BSA) that took place in the prior quarter, ensuring that nothing falls through the cracks.
Spring 2024 Quarterly Compliance Update
Our Spring 2024 Quarterly Compliance Update is designed to provide compliance professionals with the “need to know” information about what compliance activity took place during the months of January, February & March of 2024 (see below for an outline of course topics). This quarter’s program is again packed with a ton of information, and provides attendees a great option to make sure that nothing slips through the cracks.
Part II Featured Topic: 2024 FDIC Official Sign and Advertising Rule
For each quarterly update class, we focus on a different featured topic for Part II of our program. Part II of our Spring 2024 Quarterly Compliance Update will provide an overview of the new FDIC Rule on official signs and advertising of membership that was published in the Federal Register on January 18 of 2024. This final rule is the first real revision of the FDIC’s rules since 2006 and applies to all “Insured Depository Institutions” (i.e. banks that have FDIC Insurance). While the FDIC official signs and advertising of membership rules may have sometimes been an afterthought for banks, the new final rule requires a number of changes, including a new digital sign for electronic media as well as a requirement for banks to establish policies and procedures relating to the FDIC’s official sign and advertising rules.
NOTE: For those interested who are interested in only PART II of our program, we are offering PART II of this program as a standalone class in our store: 2024 FDIC Official Sign and Advertising Rule.
Who Should Attend This Program?
While specifically designed for Compliance Officers and risk managers who have the responsibility of keeping up with new rules and regulation changes, this program would be beneficial for anyone with compliance management responsibilities in a financial institution who needs to stay current with changes in the compliance world. For example, this program could be shared with compliance assistants, management, or a Compliance Council/Committee to keep them apprised of current activities and enhancing the organization’s overall compliance management system. In addition, auditors who have the responsibility of reviewing compliance areas would also greatly benefit from this program.
Continuing Education Credits
4.75 CRCM, CERP, 1.25 CFMP, 1 CAFP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Spring 2024 Quarterly Compliance Update has been approved for 4.75 CRCM, CERP, 1.25 CFMP, 1 CAFP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
Class Pricing
Regular: $399
NOTE: Premium members automatically have access to each Quarterly Compliance Update once it is released. For those wanting to enroll in all four Quarterly Compliance Updates each year, a premium membership will offer you access to each quarterly update at a discounted, bundled price. You can learn more about our premium memberships by clicking here.
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