Reg CC error tracking log

Posted By: txgal, CRCM

Reg CC error tracking log - 04/01/13 08:32 PM

Managment has asked the Compliance dept to report Reg CC errors made by branch staff in completing the Notice of Availability given to the customer. Does anyone currently have a spreadsheet/log that they keep and what do they include on the spreadsheet? This will be reported to our Compliance Committee on a quarterly basis. Any help is greatly appreciated.
Posted By: TruthNTime

Re: Reg CC error tracking log - 04/09/13 10:23 PM

I don't have such a log in use at this time, but I am equally interested in seeing/implementing one. If anyone wants to contribute some wisdom as to the necessary criteria for such a log; I am all ears.
Posted By: rlcarey

Re: Reg CC error tracking log - 04/09/13 10:44 PM

This is not rocket science and I am not sure why you would need someone else's spreadsheet? How about date of deposit, type of error and who did it, location??? What other information are interested in??
Posted By: Pop Pop

Re: Reg CC error tracking log - 04/10/13 01:52 PM

I agree. I created my own excel spreadsheet to record the results of the 3rd review which I perform of most of the REG CC holds that are created. worksheet #1 2013 has all 26 branches listed with 6 columns for each branch which are: Total Holds, # Holds Reviewed, # Regulation Errors, Regulation Error Percentage, Bank Procedure Errors, and Bank Procedure Error Percentage.
I have 5 rows per month going down. week 1-4 totals and month totals. I know 4 weeks does not make a month but I just slide the partial weeks into the first or last week of the month.(weekly numbers are not compared to each other) I set it up by week because I double check the branch's 2nd review on a weekly basis and this report works for that.
Worksheet #2 is 2013 Errors by Person Responsible which has columns: Business Date, User ID, Name of Person Entering Hold, 2nd Reviewer's Name, Branch, Error Reason, Customer Last Name.
I should note that I hold the reviewer responsible for any errors that make it through the branch 2nd review process.
It is very easy to set up the excel spreadsheet to calculate percentages. The Chief Compliance Officer then extracts monthly data from my report and reports it to the Enterprise Risk Management Committee and to the Audit Committee of the Board of Directors.
I have used the data to inform the Retail Staff of any trends in errors.
Posted By: TruthNTime

Re: Reg CC error tracking log - 04/10/13 02:17 PM

I should have been more specific in my thoughts. I was thinking of what information should be included along with implementation suggestions. We are a small to mid sized institution and resources (intelligent personnel to properly manage and record data) are few and far in between. But alas I was being lazy and looking to find something for nothing smile

Thank you PopPop for the description, the data I will be gathering will not be well received or welcomed, but should lead to greater continuity across branches; and better member service.