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#1527108 - 03/25/11 03:53 PM Question for Compliance Officers
Runnin' on Empty Offline
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Joined: Aug 2002
Posts: 149
In addition to my compliance audits, my current Supervisor (Internal Auditor) wants me to assign the response to each recommendation made to the appropriate employee/manager at our bank and then track and document their individual responses,date received, etc. on a tracking spreadsheet. It's not a bad idea but it's very time consuming. My bank's asset size if $430 million.

What are your responsibilities for tracking responses to recommendations made in compliance audits completed by you?

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General Discussion
#1527112 - 03/25/11 03:55 PM Re: Question for Compliance Officers Runnin' on Empty
Georgia Plum

I track them to make sure any deficiencies are corrected. I just use an excel spreadsheet.

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#1527134 - 03/25/11 04:29 PM Re: Question for Compliance Officers
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
I also use an Excel spreadsheet.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1527166 - 03/25/11 05:05 PM Re: Question for Compliance Officers Doug Hendrickson
Tater Offline
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Joined: Jan 2006
Posts: 625
We use Excel as well for tracking.
Born once? Die twice.
Born twice? DIE ONCE!

Loan Review, HMDA, ALLL

Opinions are my own and do not reflect any others

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#1527185 - 03/25/11 05:42 PM Re: Question for Compliance Officers Tater
BrendaC Offline
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Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Compliance tracks every reponse for compliance reviews, as well as internal audits and regulatory exams.
Life without Jesus is like an unsharpened pencil - it has no point.

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#1527235 - 03/25/11 06:19 PM Re: Question for Compliance Officers BrendaC
Jerseygirl Offline
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Joined: Apr 2005
Posts: 684
Jersey Shore
We only track responses where the corrective action wasn't taken, noted in the report response and reviewed. We are always asked for tracking reports by our examiners (OCC). I use excel.
I only update it monthly for the reports issued.

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#1527580 - 03/28/11 03:34 PM Re: Question for Compliance Officers Jerseygirl
P*Q Offline

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Joined: May 2001
Posts: 8,458
We track all, on a spreadsheet and review the document each month at compliance committee.

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#1531466 - 04/05/11 03:13 PM Re: Question for Compliance Officers P*Q
Southern gal Offline
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Joined: Mar 2008
Posts: 504
I also track both audits and compliance using spreadsheet, report quarterly to Board.

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#1532399 - 04/06/11 07:29 PM Re: Question for Compliance Officers Southern gal
MDShoregirl Offline
Junior Member
Joined: Oct 2008
Posts: 32
We were "strongly" urged to implement a tracking log for both our internal audits and compliance audits (despite the fact that we have a very effect system to follow up on audit responses)by the examiners. This is frankly a tool for them to use. For us it just means another layer of unnecessary documentation. Two of us talked until we were blue to try to get the examiners to understand that we don't need a tracking log to adequatly followup. And they found no problems with our current methods to start with. But their mindset can apparently only be satisfied with a spreadsheet. Whatever! We now complete this stupid log about 5 seconds before they show up. Gotta make them happy!

Our bank is approx. the same size as the orginal post. We have a three person internal audit department within an 8 branch bank.

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#1532715 - 04/07/11 02:44 PM Re: Question for Compliance Officers MDShoregirl
pacar Offline
Gold Star
Joined: Jul 2007
Posts: 320
I use MS Access to track everything. With it's enhanced reporting and query features, I can easily pull exactly the information I need every time. This is reviewed quarterly by Audit Committee and Board. I also refer to it when doing the next batch of audits in any given area...I see what the department said they were going to do and then incorporate a verification in the next audit.

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