This is the first installment in a series of blogs covering the sessions I attended at this year’s American Banker’s Association (ABA) Regulatory Compliance Conference (RCC) in New Orleans.
The first session I chose was “Deep Dive #3 Building Blocks of an Effective Compliance Risk Management Framework – For Community Banks”. It was a pretty obvious choice since it was taught by Jim Bedsole and David Dickinson (my boss). I certainly wasn’t going to skip it as my ongoing employment most likely depended on it!
This session definitely aligned with its “deep dive” description! Two valuable hours packed with risk management tips and tricks. If you missed out, here were the major takeaways:
- Every compliance activity should be able to tie back to your risk assessment and compliance risk management program (CRMP).
- Regulator expectations for a well-documented CRMP are at an all-time high, even for community banks.
- CRMP is an ongoing process that requires constant attention and adjustment to keep it running smoothly.
Great session, well done gentlemen!