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Why have a compliance committee?

At a conference I attended, I learned that many of my peers have a compliance committee. Is this required by regulation?

Although a compliance committee is not required by regulation, examiners are focusing heavily on the strength of the Compliance Management System, and a compliance committee could be an important component of a CMS. A committee can demonstrate that all areas of the bank are active in the compliance process, which increases the likelihood of producing compliant results.
Learn more about Brian’s webinar Change Control and your CMS

First published on 09/04/2016

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