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#118799 - 09/30/03 04:59 PM CIP project put to bed
Anonymous
Unregistered

10/1 is upon us. The CIP policy is approved. Procedures are written. CIP training is complete. A few reflections on the roller coaster of the past few months executing the project at our bank:

Low:
Being told by the secretary of the Board one week before its September board meeting that there was no room on the agenda for approval of the CIP.
High: A well-placed call to the Chairman fixed that real fast! It’s amazing that I have to defend to them what’s entirely in their best interest.

Low
Our training department was summarily disbanded in August. All training and training support now left entirely to managers.
High:
Key managers pitched in and we produced a live CIP training ‘roadshow’. I will not forget their cooperation.

Low:
Management proclaims in June that anyone should be able to walk into one of our branches and open and account “in five minutes or less”. And then me trying to figure out HOW the bank was going to actually collect CIP information without slowing down the new account process on the front-end.
High:
Having our systems chief volunteer to design a systems solutions to CIP collection, and making it work by 10/1. I owe him a huge debt.

Any similar stories to share?

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#118800 - 09/30/03 05:28 PM Re: CIP project put to bed
complyguy Offline
Gold Star
complyguy
Joined: May 2001
Posts: 494
PA
Chopper - My stories are similar to yours, but without the highs.

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#118801 - 09/30/03 05:59 PM Re: CIP project put to bed
Anonymous
Unregistered

Low:
Appointed Compliance officer September, told had to have CIP in place October first with no prior research.
High:
Managed to get it done

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#118802 - 09/30/03 06:44 PM Re: CIP project put to bed
Inquisitor / Sommelier Omega Offline
Diamond Poster
Inquisitor / Sommelier Omega
Joined: Aug 2003
Posts: 1,357
A Grant Wood painting.
Low: Being told we are going to do everything our sister bank does.
High:Knowing my deviations from the "norm" will keep us in compliance with the least amount of stress on our customers and our staff.

Low:Trying to sell something no one wants.
High: The support of the staff. The officers complained the most and in this case will do the least.
_________________________
The opinions expressed are what you can expect for the price paid.

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#118803 - 09/30/03 06:46 PM Re: CIP project put to bed
Inquisitor / Sommelier Omega Offline
Diamond Poster
Inquisitor / Sommelier Omega
Joined: Aug 2003
Posts: 1,357
A Grant Wood painting.
Good job. It will get easier if this was your first. No, really.
_________________________
The opinions expressed are what you can expect for the price paid.

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#118804 - 09/30/03 08:53 PM Re: CIP project put to bed
Anonymous
Unregistered

Low: Senior Management decides to scan all documents, but doesn't supply the means to train on equipment or retrieve the images once scanned.
High: Working toward the goal, scanners are onsite, and application software is being deployed for retrieving images. Confident that we all are working together!
Low: Finding errors in the training materials while presenting CIP.
High: Overwhelming support and feedback from employees that will assist in updating the Policy and create good procedures.

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#118805 - 09/30/03 09:12 PM Re: CIP project put to bed
renniks Offline
Diamond Poster
renniks
Joined: Sep 2003
Posts: 2,162
New England
High: CIP implementation is finished!

Low: HMDA's next!!!! :

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#118806 - 10/01/03 01:29 AM Re: CIP project put to bed
Princess Romeo Offline

Power Poster
Princess Romeo
Joined: Jun 2001
Posts: 8,272
Where the heart is
Low: Having to deal with this ill-conceived regulation to begin with.

High: The wonderful support that members of the BOL community provide each other.
_________________________
CRCM,CAMS
Regulations are a poor substitute for ethics.
Just sayin'

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#118807 - 10/01/03 02:05 AM Re: CIP project put to bed
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,503
On the Net
High: CIP is over.
Low: CIP is just beginning.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#118808 - 10/01/03 01:37 PM Re: CIP project put to bed
Dolly Nugent Offline
Diamond Poster
Dolly Nugent
Joined: Nov 2000
Posts: 1,820
Southern California
High: CIP program is in place!
Low: I will be at a compliance conference next week. My associates are going to feel like I deserted them...... I'm sure my cell phone will be vibrating off the table dispite all the training that we have done.
_________________________
Dolly Nugent
CRCM
Opinions expressed are my own.

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#118809 - 10/01/03 02:53 PM Re: CIP project put to bed
Anonymous
Unregistered

Low: Meeting last Friday afternoon. Still trying to decide how to handle "person with existing account" before board approval on Monday.
High: I am going on vacation next week and somebody else will have to deal with all the questions!

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#118810 - 10/01/03 07:26 PM Re: CIP project put to bed
RBanker Offline
Power Poster
RBanker
Joined: Jul 2003
Posts: 2,675
Austin Texas
Low: I am a one-person training department for a 350 employee institution.
High: 4 other employee/officers pitching in and helping me visit 18 locations in 7 business days to train all employees - they're the best!!!
_________________________
My comments are absolutely no reflection of, nor influenced by, my employer - take them at your own risk.

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#118811 - 10/02/03 03:01 PM Re: CIP project put to bed
IUalum Offline
Platinum Poster
IUalum
Joined: Mar 2002
Posts: 942
Kentucky
Quote:

Low: I am a one-person training department for a 350 employee institution.





Yikes!
_________________________
Opinions expressed are mine and not necessarily that of my employer.

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