2014 ABA RCC: Ask the CEO

This is the sixth installment in a series of blogs covering the sessions I attended at this year’s American Jerod11Banker’s Association (ABA) Regulatory Compliance Conference (RCC) in New Orleans.

This was an awesome session, with an awesome panel and awesome insights! Whether it was intended or not, this session built on and blended very nicely with the Deep Dive #3 Building Blocks of an Effective Compliance Risk Management Framework – For Community Banks session (see our blog on this session). The crossover topics included ensuring that compliance has a “seat at the table” and the importance of the compliance/bank “culture”. Each CEO on the panel provided a unique perspective on these and other management level compliance issues.

All three CEOs had the same thoughts about compliance having a “seat at the table”. Compliance absolutely has a reserved seat but it still has to be earned and maintained (the emphasis was on trust). It was also stated that if you don’t have a seat at the table, you’re likely on the menu!

Each of the CEOs agreed that to be a “winning” organization the compliance / bank “culture” must be a key factor. Two quotes caught my attention, you have to “walk the talk” and “it (culture) has to be real”. Good stuff!

The panel concluded with the ever-popular segment, “what keeps you up at night”? Here’s what they said:

• Specific Short Term CEO Concerns:

o Compliance Burden

o Expense Management

o It’s getting tougher and tougher to make money!

• Specific Long Term CEO Concerns:

o Shrinking Credit and Product Availability

o Ongoing Disappearance of Personal Touches on the Customer Relationship

o Ongoing Bank Consolidation

• General CEO Concerns:

o Unpredictable Regulatory Environment

o Technology

• CEO Paranoia – The Next Enforcement Action:

o Not knowing what will cause it.

o Not knowing where it will come from.

o Not knowing what it will cost.

Jerod Moyer

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