Checklist for new products or services

Posted By: crazylady

Checklist for new products or services - 09/20/10 08:20 PM

Does anyone have a sample checklist of compliance issues that should be taken into consideration when devloping a new product or service?
Posted By: wood2

Re: Checklist for new products or services - 09/21/10 04:48 PM

Crazylady,
Did you get a response to this? I am looking for a checklist for CDs and MMDA on-line offerings.
Thanks:)
Posted By: crazylady

Re: Checklist for new products or services - 09/21/10 04:48 PM

No I haven't gotten a response yet.
I guess no one has one or is not willing to share.
Posted By: Black & Gold

Re: Checklist for new products or services - 09/21/10 07:22 PM

Our bank has a written procedure and New Product/Service worksheet that has recently been implemented. It doesn't focus specifically on what compliance issues should be taken into consideration, but gives an overview of what the process is for development. Send me a PM if you're interested.
Posted By: Rocky P

Re: Checklist for new products or services - 09/24/10 03:41 PM

The OCC has a good one for "Risk Management of New, Expanded,or Modified Bank Products and Services" It's Bulletin 2004-20, and provides a good resource including analysis, exit, etc.
http://www.occ.treas.gov/ftp/bulletin/2004-20.doc