Has anyone out there documented the controls for compliance issues? This is something we'd like to start doing, but honestly, I'm concerned that keeping it updated will be a problem. Someone suggested that we obtain developer information, in the case of software, and highlight those areas showing how compliance issues are dealt with. Then we'd only need to get updated documentation from the business line whenever it was released. But what if there is no developer information. I'd hate to work on this huge project just to have it be worthless in a short span of time. HELP!

I'm not sure if this is what you mean but I document the controls for compliance issues in a couple of ways. I do a compliance risk assessment every year and part of that is assessing and stating what controls we have in place that helped determine that risk rating for that regulation. I also do a compliance grid that states the compliance issue I am working on or monitoring and update that monthly before each compliance committee meeting.

BOL offered a very good webinar on risk assessments last year, you might check the BOL store for the CD on it. I use that template for my risk assessment and it works well. I use an excel spread sheet for the complaince grid, listing the compliance issue, who identified it, how it is being addressed and by whom and when it is completed. Hope this helps, good luck!

A little help?? I could use something like this and can't find it. Thanks

Go to the top of this page and click on Compliance. When the page comes up, there is a column on the left, select Banker Tools. Under the Compliance Heading, select Risk Assessment Matrix. OR Tools and scroll down the page.

Thank you!!!