Examiner expectations for Unfair, Deceptive, or Abusive Acts and Practices are one of the fastest evolving regulatory compliance areas in banking today. Without checklist standards, financial institutions have to look at compliance risk from a new perspective. While this may take some practice, it is not impossible to succeed in managing your UDAAP risk.
Attend the Live Session or get the OnDemand or DVD recording of this session, and after viewing contact our instructor with any questions to have to meet compliance.
The idea of a 3 line defense system is not necessarily a new concept, but it is one that has begun to receive more emphasis. With our regulatory world changing and becoming increasingly complicated, a new formalized approach to the 3 lines of defense is helping many institutions stay on track and in compliance. This approach helps to establish responsibility and accountability throughout your processes.
This session will explore what the 3 lines of defense look like and how you can implement them in your institution.
Upon completion of this webinar, participants will be able to:
(1) Identify which sales compensation models are best for your organization various sales positions.
(2) Understand basic sales compensation structure and the products and services are best to offer incentives, commissions or bonuses.
(3) How to organize your sales compensation structure to engage Star Performers happy, Core Performers engaged and bring up Laggards to acceptable performance.
All Registrants Will Receive a "Non-Discrimination and Anti-Harassment Policy & Complaint Procedures for Employees" Template, Which May be Modified to Suit Your Institution's Needs.
Space is Limited to the First 100 Registrants – Register Today!
The Gist: Financial Institutions that engage in transactions involving money generated by marijuana-related activity are subject to criminal liability for failure to identify or report financial transactions which implicate violations of the U.S. Controlled Substances Act (“CSA”).
However, there is real potential for community banks and credit unions to offer their services to marijuana businesses. This is because bigger national banks continue to close out the last of their existing cannabis-related accounts. Although your Institution would still take on risk by providing services - which, technically, would violate federal law - if you comply with the Cole Memo and FinCEN Guidance, then this could be a lucrative opportunity.