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#1654856 - 01/24/12 02:34 PM Compliance Committee Meetings
SUSANE1 Offline
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Joined: Mar 2008
Posts: 808
What do other bank's cover in their compliance committee meetings... the more revelant items.......

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General Discussion
#1654866 - 01/24/12 02:42 PM Re: Compliance Committee Meetings SUSANE1
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
Ours are held quarterly and I usually cover:

Old Business: any action items from the last meeting so as to get a status on the progress being made.

New Business:
Update on any regulatory changes that happened or are forthcoming and the impact on our organization
Updates on any compliance audits/examinations/reviews; we keep a 'punch list' of the items from each of those and the reponsible party reports on the progress in resolving that issue or preventing a recurrence.

Training: any training that is scheduled for the upcoming quarter

Round Table: each member of the committee is specifically asked if there are any other questions, comments or concerns that need to be addressed by the group.

A copy of the minutes of the meeting are emailed to each member and submitted to the Board at their next scheduled meeting.
Last edited by Doug Hendrickson; 01/24/12 02:43 PM.
I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1654868 - 01/24/12 02:44 PM Re: Compliance Committee Meetings SUSANE1
BrendaC Offline
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Joined: Sep 2001
Posts: 6,029
Sweet Home AL
Each compliance officer presents written report for his/her area (BSA, lending/mortgage, CRA, privacy/info security, HR, brokerage/securities, insurance, etc.) Reports highlight recent regulatory changes/impact to bank analysis, audit/exams results/action plans during quarter, results of internal monitoring/testing programs, potential litigation, regulatory reporting statistics/metrics (such as CTRs/SARs files, number of breaches, etc.) and other significant events occurring during quarter.
Life without Jesus is like an unsharpened pencil - it has no point.

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#1654899 - 01/24/12 03:19 PM Re: Compliance Committee Meetings BrendaC
CBG Offline
Junior Member
Joined: May 2006
Posts: 44
We are just setting up a committee. Who do you have as members on your committee? Do you have a written guideline you would share? Thanks.

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#1694106 - 05/01/12 10:11 AM Re: Compliance Committee Meetings SUSANE1
DD Regs Offline
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DD Regs
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
I have been charged with exploring forming a compliance committee at our bank. I would be interested in any material, guides, policies, charters, etc that anyone would be willing to share that they found helpful when forming their committees.
I'm only responsible for what I say, not for what you understand.

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#1694110 - 05/01/12 11:44 AM Re: Compliance Committee Meetings SUSANE1
rlcarey Offline
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Joined: Jul 2001
Posts: 79,923
Galveston, TX
A number of banks post the audit and compliance committee charters on-line. Do a google search on "bank compliance committee charter"
The opinions expressed here should not be construed to be those of my employer:

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#1694616 - 05/02/12 12:02 PM Re: Compliance Committee Meetings SUSANE1
Kt, CCBCO Offline
Joined: Nov 2010
Posts: 63
State of Confusion
DD Regs: Send me a pm and I will send you what I have.
Opinions expressed here are based upon my experience, strength, and hope.
They are not those of my employer.

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#1694696 - 05/02/12 02:15 PM Re: Compliance Committee Meetings SUSANE1
Quatro Offline
Joined: Oct 2010
Posts: 93
We have a Regulatory Compliance Committee that meets monthly. Consists of Dept Heads from Loan Admin, Loan Doc/Oper, Secondary Lending, Marketing, Retail & Training, Info Sec, Phy Sec, BSA/AML, Special Assets, CRA, Application/IT, Mortgage, and Dep Ops. The bank's Compliance Officer chairs the committee and a few members of the compliance staff attend.

Each Dept discusses what projects they have been working on, asks questions about upcoming reg/rule changes, or discusses any concerns they see for bank impact of those regs/rules or projects. This keeps the entire bank up to date on the goings-on of other depts and gives the Compliance Dept a chance to weigh in with questions or concerns in an open format.

We have also developed a matrix for RCC projects and is updated monthly with progress reports. They include reg changes, DFA stuff, major bank projects, M&A projects (the compliance pieces of M&A), audit/exam "correction opportunities", etc.

Both minutes and matrix are emailed to committee members prior to meeting for review.

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