CIP project put to bed

10/1 is upon us. The CIP policy is approved. Procedures are written. CIP training is complete. A few reflections on the roller coaster of the past few months executing the project at our bank:

Low:
Being told by the secretary of the Board one week before its September board meeting that there was no room on the agenda for approval of the CIP.
High: A well-placed call to the Chairman fixed that real fast! It’s amazing that I have to defend to them what’s entirely in their best interest.

Low
Our training department was summarily disbanded in August. All training and training support now left entirely to managers.
High:
Key managers pitched in and we produced a live CIP training ‘roadshow’. I will not forget their cooperation.

Low:
Management proclaims in June that anyone should be able to walk into one of our branches and open and account “in five minutes or less”. And then me trying to figure out HOW the bank was going to actually collect CIP information without slowing down the new account process on the front-end.
High:
Having our systems chief volunteer to design a systems solutions to CIP collection, and making it work by 10/1. I owe him a huge debt.

Any similar stories to share?

Chopper - My stories are similar to yours, but without the highs.

Low:
Appointed Compliance officer September, told had to have CIP in place October first with no prior research.
High:
Managed to get it done

Low: Being told we are going to do everything our sister bank does.
High:Knowing my deviations from the "norm" will keep us in compliance with the least amount of stress on our customers and our staff.

Low:Trying to sell something no one wants.
High: The support of the staff. The officers complained the most and in this case will do the least.

Good job. It will get easier if this was your first. No, really.

Low: Senior Management decides to scan all documents, but doesn't supply the means to train on equipment or retrieve the images once scanned.
High: Working toward the goal, scanners are onsite, and application software is being deployed for retrieving images. Confident that we all are working together!
Low: Finding errors in the training materials while presenting CIP.
High: Overwhelming support and feedback from employees that will assist in updating the Policy and create good procedures.

High: CIP implementation is finished!

Low: HMDA's next!!!! :

Low: Having to deal with this ill-conceived regulation to begin with.

High: The wonderful support that members of the BOL community provide each other.

High: CIP is over.
Low: CIP is just beginning.

High: CIP program is in place!
Low: I will be at a compliance conference next week. My associates are going to feel like I deserted them...... I'm sure my cell phone will be vibrating off the table dispite all the training that we have done.

Low: Meeting last Friday afternoon. Still trying to decide how to handle "person with existing account" before board approval on Monday.
High: I am going on vacation next week and somebody else will have to deal with all the questions!

Low: I am a one-person training department for a 350 employee institution.
High: 4 other employee/officers pitching in and helping me visit 18 locations in 7 business days to train all employees - they're the best!!!

Quote:

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Low: I am a one-person training department for a 350 employee institution.

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Yikes!