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Should Our Compliance Department Be in Charge of Updating Our Retention Policy?

Question: 
Should our compliance department be in charge of updating our retention policy?
Answer: 

A recent study of 94 banks found that most institutions (65%) rely on their compliance departments to make policy updates. Before making any changes to your document retention policy or processes, it’s important to speak to legal counsel and your regulators to decide on what makes sense for your bank.

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Download a study of 94 banks’ retention policies:
http://go.accusystem.com/document-retention/.

Vendor: 

AccuSystems develops document management and exception tracking software for financial institutions. Trusted by more than 15,000 bankers worldwide, AccuAccount automates exception tracking, streamlines audits, and simplifies loan imaging. Request a demo, register for a webinar, or download a free whitepaper.

First published on 09/20/2015

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