Compliance Class: Winter 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.
Winter 2024 Quarterly Compliance Update
Our Winter 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 October, November & December of 2023 (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.
For each quarterly update class, we focus on a different featured topic for Part II of our program. Part II of our Winter 2024 Quarterly Compliance Update will provide an introduction to the new CRA Final Rule. This part of the program is basically a “class within a class” as it runs nearly an hour on its own. While not the deepest of dives into this new rule (which would take several hours to do), our program is more than just an executive summary as our instructor explains the framework of the new CRA final rule, what parts of the rule are going to apply to which banks (large, intermediate, and small), and concludes the program with a discussion of the compliance dates for the various parts of the rule, including the parts that become effective on April 1, 2024. Our Part II - Introduction to the CRA Final Rule - is a must for all banks as this rule is going to affect them one way or another.
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
4.5 CRCM, CERP, 1 CAFP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Winter 2024 Quarterly Compliance Update has been approved for 4.5 CRCM, CERP, 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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