Looking for some good resources on how to incoporate compliance into strategic planning.

Isn't that an oxymoron?

Well it may be, but I've been put on strategic planning committee and assigned responsibility for external situation anaylsis involving regulatory issues that may impact the bank strategic plan. Just needing a starting point.

Regulatory burden for starters. Staff size and the ability to achieve compliance while balancing the rest of the Bank's goals (profitiablity, efficiency, etc) and how compliance can contribute to that even though it's not generally a revenue generator.

Thanks for the input Pizza Queen.
By the way, love the "flip flop" phrase.

I agree on the "flip flop" phrase.

Also look at compliance as part of the risk mitigation process. If the regulations were not analyzed, put into policy and procedures, employees trained, and transactions monitored, the risks, fines and penalties would be substantially higher.

Neglect of certain regulations could cause cease and desist, (also think of rescission for mortgages as a big issue now) regulatory fines and lowering of CAMELS.

Southern Banker, thanks for your input...all very good points.

I would create a system identifying regulatory changes as they are published. You could document a summary of the reg or reg change, the business areas impacted, anticipated impact on business and on compliance (speaking specifically to any additional resources that may be needed to comply).

The system could also be used to assign specific responsibilities to business unit and compliance partners to track the change and update the management team. We call our group the Regulatory Changes Committee.

Thanks Brenda C, also very helpful.

Brenda C, would you happen to know of a good resource that would give me a compliance timeline for new upcoming reg changes?