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#364733 - 05/27/05 03:10 PM How many of you have?
ldsnanny3 Offline
100 Club
ldsnanny3
Joined: Nov 2003
Posts: 205
Georgia
I am so overwhelmed with all the compliance regulations and the whole compliance responsibilities and I am the only person in compliance here at my bank. We have 3 offices and about to open a 4th. I want to know how many of you have an outside group that comes in every so often to audit the compliance area (not talking about the State or FDIC)and you are able to use them to ask questions and get help on how to implement changes that occur? I have a program set up that I use and I try to have a routine about when I audit each regulation but with all the changes that keep coming out, I just can't keep ahead of the game. I am reactive now instead of proactive.

Please tell me what you guys do. Who helps you????

Thanks

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General Discussion
#364734 - 05/27/05 03:15 PM Re: How many of you have?
Anonymous
Unregistered

We have 25 branches currently and are opening another couple really soon. I am the only compliance officer; we have a BSA/Security Officer, but I generally look over his shoulder all of the time. He has an asst. to conduct report review and CTR review.

It is a lot of fun, and right now, I am behind schedule due to some interim events that occupied my time.

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#364735 - 05/27/05 04:19 PM Re: How many of you have?
Bullseye Offline
Platinum Poster
Bullseye
Joined: Jan 2004
Posts: 968
We are a $500 million bank and have one compliance officer and a compliance assistant. BSA & Security are handled elsewhere in the bank. With almost 200 employees we both keep very busy with auditing, CRA, HMDA and training.

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#364736 - 05/27/05 05:03 PM Re: How many of you have?
BankerKB Offline
Gold Star
BankerKB
Joined: Jan 2005
Posts: 288
We have a compliance officer, compliance manager, 2 compliance specialists and we also have a contract with an outside auditor to keep on top of things. Are you saying you have no other people who work in compliance not even an assistant??
_________________________
Any information posted is my opinion and not the opinion of my employer.

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#364737 - 05/27/05 05:05 PM Re: How many of you have?
KAT Offline
Platinum Poster
Joined: Aug 2004
Posts: 986
Massachusetts
We are at 387 and have 12 branches and are buying another one in June. We are in 2 states. I am CRA/Compliance with a BSA Officer. We have a company that does 14 audits and I do three. I also have to set up a monitoring program.

It can be very overwhelming because we also have trust and a broker and have a subsidiary for investments

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#364738 - 05/27/05 05:11 PM Re: How many of you have?
ldsnanny3 Offline
100 Club
ldsnanny3
Joined: Nov 2003
Posts: 205
Georgia
Maybe I was misleading a little bit. We do have a BSA officer but she still comes to me for a lot of things.

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#364739 - 05/27/05 05:11 PM Re: How many of you have?
berico Offline
Gold Star
Joined: Jun 2004
Posts: 290
California
We are 1.2 billion with 14 branches. We have one compliance officer (who is also general counsel) with one part time assistant with others handling BSA and CRA. We have an annual outside audit.

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#364740 - 05/27/05 06:39 PM Re: How many of you have?
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Heck I feel lucky now We are 2.4 Billion with two attorney's (one SVP managing all of compliance, lending blah blah, the other handling all compliance except CRA). Then a Compliance specialist, a BSA officer, security officer, myself (CRA officer) and I have two full time staff that do nothing but CRA work. 27 branches, 1 on the way
_________________________
Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#364741 - 05/27/05 06:40 PM Re: How many of you have?
Jayda's Mom Offline
100 Club
Joined: Jul 2002
Posts: 220
North
We are only $200 Million. We currently have 5 branches with hopes of another. I am the compliance officer and Internal Auditor with a staff of, well me. I don't have an assistant or staff auditor to help assist. I completely understand your situation.....there just isn't enough hours in a day to complete everything.

Last edited by Jayda's Mom; 05/27/05 06:42 PM.
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#364742 - 05/27/05 06:46 PM Re: How many of you have?
Nanwa Offline
Power Poster
Nanwa
Joined: Oct 2001
Posts: 5,564
Clintonville, WI, USA
While I am the sole compliance officer, I have all my people trained in such a way that, if I was gone, each department could hold their own. That's the whole idea; get them responsible for compliance, then I just police it. The internal auditor is the BSA Administator, but I do an annual review of her work. I annually review/spotcheck all the governing regs (I just go thru the alphabet, then the numerical regs, then start over), but daily review any new loan files. We are $100 million, and it is doable, but it does make the hours go by fast when you are busy!
_________________________
Member of the National Sarcasm Society - like we need your support!

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#364743 - 05/27/05 07:57 PM Re: How many of you have?
Sinatra Fan Offline
Power Poster
Sinatra Fan
Joined: Jul 2002
Posts: 5,568
New Jersey
$780+ million and 10 branches. We have NO full-time compliance officer, BSA officer, or CRA officer. All of those positions are held by someone who has another job as his or her primary function.
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker

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#364744 - 05/27/05 09:06 PM Re: How many of you have?
Anonymous
Unregistered

$500+ with 10 branches. I am it! I am the Compliance Officer, BSA Officer, CRA Officer, etc., etc., etc. I don't even know which way to turn!

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#364745 - 05/31/05 11:49 AM Re: How many of you have?
DebK Offline
New Poster
Joined: Apr 2005
Posts: 21
Minnesota
$400+ with 7 branches - I am the Compliance Officer, BSA Officer, CRA Officer etc etc. I do have a BSA Assistant 3 hours a day to keep up with the monitoring and reporting requirements. We have a Physical Security Officer and an Inforamtion Security Officer that I work with on seucrity projects those two roles wear other hats as well. 2004 I implemented a Compliance Committee we meet quarterly to reveiw vendors, policies, audits and procedures this has been helpful. Our holding company has an Internal Auditor that reviews my Compliance Program, Compliance Scope and my Audits and makes recommendations for improvement.

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#364746 - 05/31/05 05:42 PM Re: How many of you have?
yy2say Offline
Gold Star
yy2say
Joined: Apr 2002
Posts: 279
PA
$500+ with 13 branches – I am the Compliance Officer, BSA Officer, Security Officer, and Internal Auditor. I have an Asst Compliance Officer and two Compliance/Audit specialists in my department. We have a compliance committee with several sub-committees and ultimately they are responsible for compliance in their business areas. We also have two outside firms, one performing compliance reviews and one performing internal audit functions. Eventually we will bring all audit “in house” but until then have found the outside firms extremely helpful. I manage the relationships with the outside firms and the regulators.
_________________________
"Go, Dog. Go!" ~ P.D. Eastman

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#364747 - 05/31/05 08:18 PM Re: How many of you have?
Anonymous
Unregistered

We're at 3 billion (78 branches)and I'm it for compliance. I do subscribe to Thomas Compliance Associates (www.tcaregs.com) for their basic service which allows me to call w/?'s and gets me their newsletters for a reasonable price.

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#364748 - 05/31/05 08:55 PM Re: How many of you have?
P*Q Offline

Power Poster
P*Q
Joined: May 2001
Posts: 8,458
Somewhere
7 branches, $260M, I am compliance/privacy/bsa/security/info security officer. I also do internal audits of all dept. (except finance dept.).I wonder why I have TMJ from stress.

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