Who Decides to Purchase

compliance software in your bank? I get many calls from vendors but do not make the purchasing decisions? Of course, I forward information on to the business areas, when appropriate, but why do the vendors assume that the COs decide? Is that common elsewhere?

In my bank I decided what products would fill my needs and then proposed/requested what I needed. IT had to bless off if it was going on a PC. But it started with me.

What tasks did you perform as CO that required software, beyond Microsoft Office?

In my case, calculations, forms preparation, and monitoring are performed in the business areas, so they would decide what to buy to automate their operations

I use Word and Excel to manage the Compliance Program.

The compliance department in my bank,which reports to me, uses compliance monitoring software (a specialized database), CTR software, AML software, and CIP software to help in investigations. We also make recommenations to business units and approve what they select,to ensure that what the bank purchases is sufficient.

There were add-on programs that enhance Office, such as some that I use for PPT presentations. But a biggie was CRA mapping software, HMDA reporting and a database program that tracked Reg. E claims and then Security cases.

Good point,Andy. We also use CRA Wiz. How did I forget that?

We use CRA Wiz, too. Our Operations area has a Reg. E tracking program, and Security tracks SARs, etc., on a database. None of these are with me, though, except for CRA Wiz.

(I am the CO, but I do not have any direct reports.)