Monthly Compliance Report format:
1. Compliance Program:
Compliance risk is defined as the risk to earnings or capital caused by the non-conformance with or violation of laws, rules, regulations or internal policies and procedures. The bank’s compliance with applicable laws, regulations and policies is monitored on a continuous basis. Any deviation from such is deemed serious and remedied immediately. Department Heads have reported no such violations.
Additionally, ongoing training for all personnel helps to mitigate compliance risk. Any new service or product that the Bank will offer will be implemented with compliance of the applicable laws and regulations in mind.
2. Training:
• Online training is continuous.
3. Compliance Reviews:
Internal – Systems and procedures are currently in place within the bank to ensure ongoing compliance with applicable laws and regulations.
•
External –
•
4. Other Compliance Issues:
•
5. Monthly BSA Report:
•
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