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#1777289 - 01/17/13 03:32 PM Compliance Officer and Internal Auditor
jeat Offline
New Poster
Joined: Dec 2010
Posts: 3
Hello; I would like to first say, my questions are more prominent with the new regulatory changes coming....I have been the internal auditor for several years at a bank about 160m in assets. In May 2012 management added 'Compliance officer' to my responsibilities. The person who had compliance before me was also the Loan Operations Officer. I am having trouble getting the loan department to recognize that I am not head of operations, just compliance. I know I must keep my independence as auditor and would like some suggestions on how others implement regulation changes without crossing the line into operations. I am having an outside auditor perform all the compliance audits.
Thanks for all who reply! smile

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#1777422 - 01/17/13 05:23 PM Re: Compliance Officer and Internal Auditor jeat
DD Regs Offline
Power Poster
DD Regs
Joined: Nov 2008
Posts: 4,132
Somewhere in the middle
Remind the other departments that they need to take ownership for compliance in their areas of responsibilities. Your role is to help them interpret the rules and to confirm that what they plan to do is in compliance with the regulations.

You need to make sure you have managements support on that positon as well.
_________________________
I'm only responsible for what I say, not for what you understand.

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#1777497 - 01/17/13 06:59 PM Re: Compliance Officer and Internal Auditor jeat
jeat Offline
New Poster
Joined: Dec 2010
Posts: 3
Thanks so much for your reply. You stated what I have been thinking and I am beginning a process to sit with management and explain the difference between their responsibilities and mine. Since I report to the Audit Committee I want to make sure they understand as well. Thanks again.

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