Compliance Oversight Responsibilities

Boards of Directors have many responsibilities in financial institutions, not the least of which is to monitor risk. Within the past 10 years, since the passage of the Dodd-Frank Act, regulatory attention to Board oversight over the Compliance function has only increased. There must be regular the thorough communication to the Board from the institution's Chief Compliance Officer, to ensure the Board is aware of any impending risk or regulator issues, among other things. As well, the Board must balance risk management, technical compliance with laws and regulations, and issues around customer fairness. As well, the Board must oversee the three lines of defense to ensure they are designed and are functioning properly. This program will cover all of these important topics and more.

Covered Topics:

  • Board and Executive Management Engagement
    • Chief Compliance Officer
    • Functional and Effective Escalation Processes
  • Compliance Management System Focus
  • Culture of Compliance
  • Three lines of Defense
    • Business and Operations
    • Compliance and Control Functions
    • Audit
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The cost of subscription is determined by the asset size of your institution. In the case of holding companies or banks under common ownership, the aggregate asset size of participating banks determine the subscription tier.
   Non-bank or < 499M - $125 per month   
   $500M - 999M - $250 per month   
   $1 - 5B - $425 per month   
   $5 - 10B - $600 per month   
   > 10B - $850 per month   

Billing Details:

The term will commence on the START DATE of this agreement and continue for 6 or 12-months. This subscription will be renewable at the end of the current term for a successive 6 or 12-month term unless either party gives written notice of its intention not to renew 15 days before the expiration of the current term.We will notify you of any changes in the terms of the subscription at least 30 days prior to the notice period for renewal or termination.