New Year’s resolutions for compliance officers
by: Lindsey Richardson
With 2015 right around the corner, many of us are thinking of resolutions for the New Year. While it is a great idea in theory, there are times when we set goals that are impractical to reach (Ahem, my 2014 resolution of working out at 5:00 a.m. 5 days a week? Let’s just say it didn’t quite happen). However, if we break these larger goals into more realistic and attainable “mini” goals, it becomes a lot more manageable. Let’s take compliance for example – we all have grand ideas of accomplishing the impossible, thinking we can save the day and get back on track.
Then life comes and gets in the way – the marketing department needs an ad reviewed ASAP, or your examiners show up, or a final rule gets released – we all know the drill. Why not cut yourself a break and start with a smaller goal? For example, make a resolution to update your existing policies to make sure you are in compliance with current regulations. The best part about this resolution? PolicyWorks has done the hard work for you. We offer PolicyAid, a comprehensive, online, policy library that will help your credit union develop and maintain policies as regulations change. We currently have 80+ policies available, with quarterly updates to maintain compliance.continue reading »