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Optimizing complaint log use

Question: 
What is the most common way that banks record or log complaints and inquiries to have available when the examiners come in looking to see what we have?
Answer: 

This depends on the bank. It could be an Excel form on the Compliance Officer’s PC, or it could be a database available in all branches. A pen and paper log could work but the more automation you have the more you can get out of the data you have. Using codes for various products and branches and departments allows you to extract when complaints are received and if there is a product or area that is problematic. This is the type of information management needs to address these issues.
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Learn more about Andy Zavoina’s webinar UDAAP, the Risk is Real

First published on 10/27/2019

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