Efficient And Effective: Does That Describe Your CMS?
Your compliance management system needs to do more than meet the letter of the law; it must take action. An effective CMS will move you through the many regulatory changes with active risk management. Unfortunately, many CMS’s lack the agility needed to navigate the fair lending compliance jungle.
To make an adaptive, efficient CMS you must know where to look for areas where your compliance program could have become outdated because of the ever-changing regulation landscape.
Our eBook Navigating the Fair Lending Jungle: 4 Things You Need to Avoid Regulatory Quicksand was designed to educate lending organizations on…
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Learn what an effective Compliance Management System Looks like. Get the Cheat Sheet >>
The When:
Oversight, execution, feedback, and review.
The Why:
Clunky roll out of a new policy and training, poor reporting, etc.
The Where:
Your senior management your training, your workforce, your reporting, etc.
The What:
Trips a red flag that causes a “fire drill” and could potentially lead to a fine and reputational damage.
The How:
Of protecting your organization from audits that cost you with your reputation and financially.
To get you started, take a page from the Fair Lending eBook that illustrates an effective CMS structure. This handy cheat sheet provides an overview of the four essential parts that make an effective CMS and describes how the parts are interconnected. It becomes apparent that each part—executive oversight, compliance program, complaint resolution, and independent audit—is pivotal to the success of your CMS.
Download the CMS Cheat Sheet
Learn what an effective Compliance Management System Looks like. Get the Cheat Sheet >>
