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Examiner's Questioning Compliance Experience
Answer by Jim Bedsole, BOL Guru
Guru Bios
Question: How do we address our examiner's questions regarding years of experience in compliance? Several members in our department have been in compliance for 1-2 years but have years of operational experience and compliance training, which should count towards their total experience, correct?
Answer: That's exactly what you should say. The regulators don't expect everyone on your staff to be a 10-15 year compliance officer. Many times the operational experience can make the person a better compliance officer anyway, and they recognize that. What they are looking for is to see that you don't have people in over their heads in compliance without a support system.
First published on BankersOnline.com 11/06/06
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