081202 Operations Seminar


9:00 - 10:30 am
Compliance Management System and UDAAP
Presented by Ann Brode
NCUA examiners expect your credit union to have a comprehensive compliance management system that will identify, measure, monitor and control compliance risks. They are looking for you to develop a written, comprehensive CMS policy that describes just how compliance works at your credit union.

  • Our discussion will cover the three "pillars" the examiners expect in your CMS: Board & Management Oversight, Compliance Program and Consumer Harm.
  • You will be provided with some examples of examiner "red flags" concerning UDAAP.
  • In order to get you started writing a strong CMS policy or to update yours, an outline for a Compliance Management System Policy will be provided.

11:00 - 12:30 pm
Power Up: Advanced Deposit Operations Compliance
Presented by Dawn Kincaid
Faster than an upcoming exam, more informed than a compliance novice and with a neck strong enough to hold all those hats- it’s a Super You! Each day you don your cape and set out to manage piles of regulation, guidance and monitoring reports all to protect your institution from violations and avoid practices that would result in…consumer harm. Your powers have been put to test more than ever during this pandemic emergency.  

This session will go beyond the basics of the consumer deposit regulation requirements applicable to you and your institution and will provide resources and tools to help you strengthen and enhance your compliance program. No spandex required.  

Learning Objectives:

  • Understanding the Fundamentals and Beyond – A review of the key fundamentals as well as a dive into the more complex elements of the key deposit and consumer compliance regulations including:
    • BSA- including CIP, CDD, and reporting suspicious activity
    • Reg D-reserve requirements and monitoring accounts with transaction limitations
    • Reg E-error resolution and remittance and overdraft rules
    • Reg P-privacy and information sharing
    • Reg CC-expedited funds availability updates
    • Truth-in-Savings disclosures and best practices
    • UDAAP-avoiding issues causing consumer harm and tracking consumer complaints
  • Responding to Audit & Exam Findings - A review of areas audits and examiners have recently cited for noncompliance and the preventative measures you can take to avoid these common foes.
  • Awareness of the COVID-19 Impact on Deposit Operations Compliance – A review of regulatory changes made during the pandemic emergency that have impacted consumer deposit compliance.
  • Incorporating Top Ten Best Practices into your Process- A discussion of the top ten tips and takeaways to make you feel like a compliance superhero.

2:00 - 3:30 pm
Compliance Training - What's Required & How to Spice it Up!
Presented by Molly Stull
It’s required. It’s been completed. But was the training material understood and retained by the employee? After all, training should be more than just checking the "completed" box. Training has the ability to improve capabilities, productivity, capacity and overall performance. While credit unions typically have training programs in place to cover the required compliance topics, are your employees being trained on HOW to apply these rules and regulations through an understanding of your credit union’s policies and procedures? During this topic we will discuss how to engage the employee to make the learning experience more effective. We will also review the expectations of an effective compliance training program including identifying compliance training that should be conducted on an annual basis. 

Learning Objectives:

  • Steps to create an effective training program that includes regulatory compliance and the credit union’s policies and procedures.
  • Sample exercises to customize to your internal policies and procedure.
  • Effective ways to test for understanding 
  • Template for written test questions
  • Listing of regulatory training requirements including best practices
  • Additional resources of free financial training material to use with staff and in customer outreach opportunities.