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Product ID: 408112EAU
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Governance and Regulatory Issues for Bank Directors and Officers

OnDemand Webinar (87 minutes)

Gain insight into a state-of-the-art compliance system for financial institutions.Today being a board member or senior officer at a financial institution is fraught with many different pressures. The need to maintain effective compliance with limited resources while products and services are changing in the banking industry presents a challenge. The growing number of financial technology firms has put pressure on financial institutions to develop new products and services. This topic is intended to define a state-of-the-art compliance system for financial institutions. We will discuss the fundamentals for compliance as well as ways to balance limited resources with effective outcomes. This information will be critical to board members and officers as they develop plans for the future.


James DeFrantz, CRCM, CAMS, J.D., Virtual Compliance Management


Frontline Compliance Fundamentals

• Introduction to the Topic

- Governance and Compliance Are Considered the Main Function and Focus of Board Members and Officers and Each Will Be Held Accountable in the Event of Malfeasance

- Some of the Most Pressing Issues That Directors and Officers Will Face Include Potential Systemic Problems With BSA, UDAAP and Fair Lending

- Despite the Fact That There Have Not Been Many Significant Changes in These Areas in Recent Years, the Interpretation of Compliance as Changed

- While the Fundamentals Are the Same, the Way They Must Be Implemented Has Changed

• Establish Internal Controls and Risk Appetites

• Supervise Management

• Engage in Periodic Monitoring

• Challenge Information Presented

Basic Duties of Board and Officers

Regulatory Expectations

• On a High-Level Understanding Applicable Regulatory Scheme

• Obtain Sufficient Evidence to Determine the Overall Performance of the Bank

• Supervise Programs and Set Metrics for Results

• Look for Unusual or Suspicious Trends

• Training Is a Key Ingredient

BSA, UDAAP and Fair Lending

• Ongoing Area of Enforcement Action

• Especially True Where MSBs Are Involved

• Areas of Compliance That Can Creep up and Surprise

• Risk-Based Approaches to Compliance

Strategies for Compliance

• Increasing Resources Internally

• Outsourcing

• Testing

• Using Internal Audits Effectively


• Components of an Effective Compliance Program

• Making the Most of Limited Resources

• Making the Compliance Program Fit the Institution