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Tackling the great compliance challenge

Compliance is one of the most difficult challenges bankers face. And there is little wonder why. Every new law that impacts depository institutions forces federal banking regulators to write reams of implementing regulations. Every new problem that is in any way related to banking moves the regulators to write a complex remedy.

Every bank CEO must make compliance a priority. Two years ago, the strategic planning process at our institution identified the need for a full-time stand-alone compliance function. So we elevated an experienced branch manager to the position of vice president for compliance. He has 15 years experience in the business, an MBA and attended the ACB Regulatory ...

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