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#51059 - 12/30/02 02:34 AM End Of Year Checklist

With only 2 days left in 2002, what would be some suggestions for a new compliance person or
I guess any person in compliance to make sure to review before the end of business in 2002.
This may sound a little silly, but being new I want to make sure I've not overlooked something that
would be hard to correct later.
Hope everyone has a good, happy and safe New Year in 2003

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Operations Compliance
#51060 - 12/30/02 03:34 AM Re: End Of Year Checklist
Andy_Z Offline
10K Club
Joined: Oct 2000
Posts: 27,503
On the Net
There are very few year-end triggers I can think of.

If you oversee the FFIEC 004 report, that is due by Jan. 31. (We also update our related interest report with this since we are contacting many of the same folks.)

Quarterly you should be updating HMDA. With the year-end you need to be finalizing HMDA and possibly your CRA submission for March 1.

CRA needs to be updated by April 1.

Most compliance specific items are triggered by events with a few exceptions. (Publicly traded banks may have more filings of financials and such.)
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#51061 - 12/30/02 11:08 AM Re: End Of Year Checklist
Ross A Offline
New Poster
Ross A
Joined: Dec 2002
Posts: 20
March 15 is your deadline for renewing phase2 exemptions.
The opinions expressed here are my own and may not represent the views of my employer.

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#51062 - 12/30/02 03:14 PM Re: End Of Year Checklist
Lestie G Offline

Power Poster
Joined: May 2002
Posts: 3,606
Near the Land of Enchantment
Not a regulatory requirement, but I use the end of the year as a good time for cleaning out my files to send things to record storage. That way I can be sure I haven't overlooked something in a pending file that needs to be taken care of before year end.

In addition to the Reg O, HMDA, CRA LAR and BSA exemption tasks listed above, I also start investigating potential CRA Sunshine agreements for reporting about now.
Opinions my own.

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#51063 - 12/30/02 03:48 PM Re: End Of Year Checklist
complylady Offline
Platinum Poster
Joined: Jul 2002
Posts: 614
Also remember to communicate the annual change to the total points and fees from $480 to $488 and update your Section 32 worksheets to reflect the change.

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