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#525533 - 03/31/06 08:41 PM
Compliance Department Sizes
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Posts: 238
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Just curious to find out the Bank asset sizes and the number of staff in your compliance departments. example mine is Approximately 8 Billion, 3 People.
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#525535 - 03/31/06 08:43 PM
Re: Compliance Department Sizes
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Joined: Jan 2006
Posts: 190
TX
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#525536 - 03/31/06 08:46 PM
Re: Compliance Department Sizes
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Anonymous
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Quote:
Just curious to find out the Bank asset sizes and the number of staff in your compliance departments. example mine is Approximately 8 Billion, 3 People.
i see C&Ds in your future.
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#525537 - 03/31/06 08:56 PM
Re: Compliance Department Sizes
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Anonymous
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those that can, do......those that cant use crystal balls to tell the future
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#525539 - 03/31/06 09:01 PM
Re: Compliance Department Sizes
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Joined: Oct 2005
Posts: 238
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thanks...do you have any kind of data that would back that up....lets say, so HR would be willing to hire a few more people?
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#525540 - 03/31/06 09:09 PM
Re: Compliance Department Sizes
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Power Poster
Joined: Sep 2005
Posts: 7,350
The he11 of suburbia
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Quote:
thanks...do you have any kind of data that would back that up....lets say, so HR would be willing to hire a few more people?
I have peer group info, but only on the top ten or so banks. If you're a smaller institution, it would be more credible to get info on your local competition.
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#525541 - 03/31/06 09:25 PM
Re: Compliance Department Sizes
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Joined: May 2001
Posts: 8,458
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#525542 - 03/31/06 09:28 PM
Re: Compliance Department Sizes
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Joined: Jul 2002
Posts: 13,994
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Quote:
$290 million, me
That's similar to my institution.
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#525543 - 03/31/06 09:34 PM
Re: Compliance Department Sizes
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Anonymous
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hey I work for $5b company that just got rid of it's 8 memeber compliance dept!
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#525544 - 03/31/06 09:39 PM
Re: Compliance Department Sizes
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Joined: Jan 2004
Posts: 3,626
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They got rid of all 8 members?? Or just the 8th member?
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#525545 - 03/31/06 09:49 PM
Re: Compliance Department Sizes
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Posts: 238
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Thanks for your insight.... we are definitely not in the top ten as far as asset size goes.
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#525546 - 03/31/06 09:54 PM
Re: Compliance Department Sizes
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Joined: May 2001
Posts: 8,458
Somewhere
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a good rule of thumb these days is one compliance person per billion in assets.
I think it also depends on how many other hats your compliance people wear. While I stated I'm the only one is a $289M Bank, I also do security, BSA, CIS, audits, etc, etc, etc. 
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#525548 - 03/31/06 10:17 PM
Re: Compliance Department Sizes
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Gold Star
Joined: Aug 2004
Posts: 440
Midwest
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350 million, we have a department of 3. Two are full time compliance.
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#525549 - 03/31/06 11:20 PM
Re: Compliance Department Sizes
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Anonymous
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S, M, L, XL? sorry. couldn't hep it. 
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#525550 - 04/01/06 12:20 AM
Re: Compliance Department Sizes
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Anonymous
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Quote:
Just curious to find out the Bank asset sizes and the number of staff in your compliance departments. example mine is Approximately 8 Billion, 3 People.
It depends on how you count and what is the role of your compliance department. We have a multi-person "compliance department," but we still have people in other departments who devote between 75 to 100% of their time to helping their departments comply with the rules that affect their operations.
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#525551 - 04/01/06 03:10 AM
Re: Compliance Department Sizes
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Joined: Dec 2000
Posts: 21,293
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As Bugs said, much depends upon how a bank is structured, and who does what.
One bank may have BSA in compliance, others have a separate unit.
One bank may have "compliance coordinators" in each business line, who work with the central compliance group to get new/revised regs implemented. Compliance advises and signs off as ok a new process after review. Others will have compliance actually devising procedures and writing policies and procedures (not my preference for structure). Some banks have compliance testing/monitoring/auditing done by compliance officers. Others have it done by a special team that is part of compliance, others have it done by audit.
It is difficult to compare without comparing tasks.
I was a compliance manager for a very large bank a fews year back. I had one line of business - credit products. That sounds good to someone from a small bank until you understand that my area included Canada, the US, and Central and South America, and lending was commercial, consumer, asset based, margin, and residential real estate (multi-billion dollar portfolios) AND included credit risk in investment products AND advising other regions globally on credit issues. They kept me hopping, but it was great fun.
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