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#57142 - 01/28/03 12:45 PM Department Self Monitoring
jwr1996 Offline
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jwr1996
Joined: Jan 2003
Posts: 163
I am fairly new to my position of audit/compliance director and am starting to make some improvements. One of the improvements I am making is department self-monitoring. I wanted to get some opinions on how other banks accomplish this. Is it basically a self-audit periodically or something else?

Thanks.

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General Discussion
#57143 - 01/28/03 01:28 PM Re: Department Self Monitoring
Bear Collector, CRCM Offline
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Bear Collector, CRCM
Joined: Nov 2000
Posts: 1,830
District of Columbia
We utilize a software program that contains various questionnaires (similar to the ones the examiners use) about each Reg and law that we work with. We send these questionnaires to the departments and the compliance responsiblity officers to complete and return to us. (We are in the process of doing this electronically - up to now it has been a manual process.) The questionnaires help the department determine where their weaknesses are, and help us to identify where we need to concentrate our monitoring activities.
Leslie
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Being kind is more important than being important.

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#57144 - 01/28/03 03:48 PM Re: Department Self Monitoring
jwr1996 Offline
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jwr1996
Joined: Jan 2003
Posts: 163
Can you share the name of the software? Any other products that you have seen that are good or where some good questionaires can be obtained?

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#57145 - 01/28/03 03:59 PM Re: Department Self Monitoring
Bear Collector, CRCM Offline
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Bear Collector, CRCM
Joined: Nov 2000
Posts: 1,830
District of Columbia
The program is called CompliancePro (ProActive). I think they were bought by ABS. Here is a link to their website. http://www.compliancepro.com/home.htm
Good Luck!
Leslie
Last edited by Leslie; 01/28/03 04:00 PM.
_________________________
Being kind is more important than being important.

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#57146 - 01/28/03 04:05 PM Re: Department Self Monitoring
DeeQ Offline
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DeeQ
Joined: Dec 2002
Posts: 40,763
Turnpike Exit 10
There's a couple of books out there:
Alex Information Systems has the Regulatory
Compliance Audit Program and I use
the OTS's Compliance Handbooks all
of the time. Also, Kirchman has some
free stuff online. Good luck!
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Get your facts first, then you can distort them as you please. - Mark Twain

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#57147 - 01/28/03 04:16 PM Re: Department Self Monitoring
wlavoie Offline
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wlavoie
Joined: Jul 2002
Posts: 338
Hell's Canyon
Our bank did that for a couple of years but it seems people have learned that the "correct" answer to every question is yes and that became the standard answer. We now have most departments do monthly certifications which I monitor on a quarterly basis.
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Wendy LaVoie

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