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#604819 - 08/24/06 09:27 PM I am terribly overwhelmed

Help!! I work for a new bank (nearly two years old) with one branch and five lending production officer. I am the BSA/OFAC Officer, Compliance Officer, Privacy Officer, Security Officer, and Training Officer. I feel like I am responsible for everything. I am also the "branch manager". I have VERY limited staff. I am also the Corporate Secretary so I attend all board meetings I feel like I am in over my head. I attend as many outside trainings as I can, but I don't send my staff, as I can't our staffing needs don't really permit it. My question for you is "Is there anyone else out there with this level of responsibility? If so, how do you handle it?"

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#604820 - 08/24/06 09:32 PM Re: I am terribly overwhelmed


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#604821 - 08/24/06 09:42 PM Re: I am terribly overwhelmed

50 hour work weeks and liquor

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#604822 - 08/24/06 09:50 PM Re: I am terribly overwhelmed

right, work hard, but play harder

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#604823 - 08/24/06 10:08 PM Re: I am terribly overwhelmed
Midwest Banker Offline
Gold Star
Joined: Nov 2004
Posts: 349
While liquor does sound good right about now, there does come a time when you have to say "enough is enough." This may also mean realizing that you are in over your head, with the amount of work.

Do you have someone you can talk to and help you examine the job duties and prioritize them? This may help in determining to others that you cannot do it all.

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#604824 - 08/24/06 10:08 PM Re: I am terribly overwhelmed
ahou Offline
Power Poster
Joined: Aug 2002
Posts: 3,094
You'll probably have to work 11 or 12 hour days. Is there anyone on your staff that can help you monitor (CTRs for example) Try consolidating your reviews as much as possible. For example - do a "closed-end credit" review that covers all possible regulatory issues (even CIP) and includes all closed-end products. Repeat for open-end credit. Combine RTFPA & Privacy. See where I'm going? Also set up your compliance reviews according to a risk- based time schedule. Some will be annually; some will be every 18 months, depending on the level of risk. I feel your pain!
Opinions are my own and not of my employer.

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#604825 - 08/24/06 11:26 PM Re: I am terribly overwhelmed
Spenser Offline
Joined: Apr 2006
Posts: 52
Washington state
I would hope that the Board realizes that by putting so much on you, the bank risks being out of compliance, or at least getting poor regulatory exams results. According to the FFIEC Examination Manual "The board of directors is responsible for ensuring that the BSA compliance officer has sufficient authority and RESOURCES (monetary, physical, and personnel) to administer an effective BSA/AML compliance program based on the bank's risk profile." It sounds like you're a little short in that area!

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#604826 - 08/24/06 11:37 PM Re: I am terribly overwhelmed
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,007
Toano, VA

Try consolidating your reviews....

Better yet, redefine quality control reviews as a production or audit function and hand it to someone else. If you don't have enough managers and staff to run the bank properly, you need to hire more people or outsource as much as possible. One serious oversight or "accident" can eat up all the compensation pennies your management's been pinching.
...gone fishing.

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#604827 - 08/25/06 12:19 AM Re: I am terribly overwhelmed
MagicCity Offline

Power Poster
Joined: Apr 2003
Posts: 3,003
Fort Lauderdale, Florida
Usually by the second year, Management starts hiring to take the load off the key people like yourself that helped start the bank.
Perhaps you can sit down with your Senior Management and show them which jobs need full time employees now, and why -such as the risk you are taking, if you should have BSA issues -and pare your responsibilities down.
Don't give them your problems so much as give them solutions.
And good luck !!

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#604828 - 08/25/06 11:55 AM Re: I am terribly overwhelmed
DeeQ Offline
10K Club
Joined: Dec 2002
Posts: 40,760
Turnpike Exit 10
Try to delegate some responsibilities to your staff.
Get your facts first, then you can distort them as you please. - Mark Twain

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#604829 - 08/25/06 02:36 PM Re: I am terribly overwhelmed
Bagweaver Offline
Diamond Poster
Joined: Nov 2005
Posts: 2,409
This was posted in the BSA forum also, wasn't it???
Semiretired. Working parttime at Historic Westville as a tour guide.

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#604830 - 08/28/06 06:24 PM Re: I am terribly overwhelmed
BrendaC Offline
Power Poster
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
I have compliance delegation charts that I'll be happy to share. They were designed to assist our smaller banks in managing the routine compliance tasks--and remove the excuses for not knowing who is doing what. PM me.
Life without Jesus is like an unsharpened pencil - it has no point.

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#604831 - 10/05/06 07:20 PM Re: I am terribly overwhelmed
Night Train Offline
Diamond Poster
Night Train
Joined: Sep 2006
Posts: 1,189
Down South
I would like to see your compliance delegation charts, if I may? I am new to a well established bank whose compliance officer left several years ago and no one replaced her...yuck!...we are starting all over from scratch...

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#604832 - 10/05/06 07:29 PM Re: I am terribly overwhelmed
MadisonCali Offline
Power Poster
Joined: Jun 2006
Posts: 2,515
By Train...
You may want to try PMing for the charts...the previous poster may not come back to this thread.
The beatings will continue until morale improves...

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#646207 - 12/03/06 04:34 PM Re: I am terribly overwhelmed *DELETED* MadisonCali

Post deleted by MagicCity

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#647486 - 12/05/06 09:21 PM Re: I am terribly overwhelmed *DELETED* Anonymous
Otis Offline
New Poster
Joined: Dec 2005
Posts: 22
I agree with Devil Queen--delegate some of the work to your other selves! Sorry, I couldn't resist.
Last edited by Otis; 12/05/06 09:39 PM.
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#649209 - 12/08/06 02:55 PM Re: I am terribly overwhelmed *DELETED* Otis

Comedy helps. And when the going gets tough, smile. Drives the opposition crazy....

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