In Compliance regulation and risk assessment key performance indicators usually include: A. Fines or penalties B. Customer complaints C. Regulatory criticism from a regulator or internal or external auditors D. None of these
For example on a 0-5 scale: The risk trend shows the direction of risk and probable change to risk over the next 12 months. A trend toward increasing risk means that A. Management may want to take additional action through…
Compliance professionals have a duty to keep senior management and the board apprised of the state of compliance within the bank through which of the following: A. Self-monitoring and audit results B. Proactive compliance controls C. Timely and accurate regulatory…
Which of the following should be done during research and interpreting regulations Compliance professionals in mitigating compliance risk? A. Track regulatory proposals B. Implementing final regulatory rules C. Understanding the business units’ operating environment and risk tolerance D. Ranking solutions…
The compliance program should address plans to verify adherence to applicable regulations through: A. Ongoing monitoring to evaluate the program, self monitoring and corrective action B. Self monitoring C. Periodic reviews D. Ongoing monitoring to evaluate the program, self monitoring…
In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. In this case: A. Regulations should be applied consistently to procedures throughout…
To be effective, compliance risk management professionals must design a framework to ensure that bank management understands the risks and the steps that must be taken to mitigate them. The many roles compliance professionals fill incorporate risk management aspects including:…
They also embrace the concept of risk-based compliance management. They expect compliance management to be tailored to the bank, be it large or small, offering standard or specialty financial services, simple or complex products lines, and adjusted as appropriate for…
A compliance professional’s responsibilities include all of the following EXCEPT: A. Understanding the business units operating environment and risk tolerance B. Performing risk assessments with the assistance of business units to determine current risk levels and risks associated with the…
____________should include basic elements designed to understand and mitigate risk. It usually includes: Written program Compliance-related policies and procedures A. Tactical Compliance procedure B. Rank solution C. Compliance program D. None of these