How can you be sure you’re giving your compliance oversight team exactly what they need to know—no more, no less? Here’s what an attorney and a board member have to say. At its core, workforce compliance oversight is about finding the right balance between too much information and not enough information. Clearly, an organization’s leaders […]
There’s at least one thing your bank, federal and state regulators, and board of directors agree on: better compliance does not equal more compliance. With that in mind, here are 4 essentials of compliance oversight. It can be easy to forget that the people making your life busy are very likely incredibly busy themselves. Whether […]
The CFPB and other regulators expect an organization’s board of directors to have oversight over the organization’s compliance management system. Here’s why the buck stops with the board—and what it really means for a “buck” to stop. “The buck stops here.” The saying, famously emblazoned on a sign President Truman kept on his desk, has […]
Welcome to Tools You Can Use, our series about—what else?—tools you can use to improve your organization’s compliance outcomes, right now. In this series, we serve up resources such as worksheets, checklists, and how-to’s that our clients have found particularly useful in creating, assessing, and improving their compliance programs and compliance management systems. Today’s tool […]
An effective workforce compliance program is a team effort. If a department, office, vendor, or even an individual worker is out of compliance, the entire organization is at risk. Your team also shapes your compliance program over time: what they find engaging, and what they don’t—as well as their technological preferences, accessibility needs, and learning […]
Any effective compliance program requires executive oversight. And we’re not just talking about passive, infrequent observation. As we explored in Part 1 of this article, state and federal regulators such as the Consumer Financial Protection Bureau require specific actions of organizational boards, including, among other things, appointing a qualified and experienced chief compliance officer who […]
Just how important is your board of directors, or your executive team if you don’t have a board? According to Luis A. Aguilar, former commissioner for the Securities and Exchange Commission, your board has enough power to help bring about or put an end to an economic recession. Having served the SEC during the 2008 […]
As one of the 4 pillars of your Compliance Management System, executive or board oversight is not something you can afford to overlook. Hear from both sides of the coin when it comes to your executive oversight compliance obligations. Learn about: Your regulatory requirements, from a seasoned lawyer What your oversight team wants to know, […]
Although we typically define executives by their ambitions, their anxieties can be equally telling. If you’re losing sleep over handling cyber security threats, keeping your business strategically agile, or creating and maintaining a positive organizational culture, for instance, I’d venture a guess that you’re a high-ranking director or board member. Wait, how do we know […]
Ever wonder why it’s called a “board” of directors? Hundreds of years ago, a company’s decision makers would sit around an actual board when holding meetings. Back then, the word “board” could mean “table,” “plank,” or “shield”—basically any long, flat hunk of wood or metal. So, while odds are it was probably nothing more than […]
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