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Compliance Management System (CMS) Essentials Webinar

April 16, 2025 10:00 am - 11:30 am
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A sound CMS provides a never-ending exercise in organization and education. Federal regulators require financial institutions to have a CMS. While each agency has its own definition of a CMS, it all boils down to one simple concept: how a financial institution manages consumer compliance risk. All regulators expect it.

A CMS is how an institution:

  • Learns about its compliance responsibilities
  • Ensures that employees understand these responsibilities
  • Ensures that requirements are incorporated into business processes
  • Reviews operations to ensure responsibilities are carried out and requirements are met
  • Takes corrective action and updates materials as necessary

In addition, a CMS helps manage risks associated with:

  • Changing product and service offerings
  • New legislation enacted to address developments in the marketplace
  • Noncompliance with consumer protection laws may result in litigation, monetary penalties, and other formal enforcement actions.

What You’ll Learn

  • A review of the basic requirements of a CMS and tailoring them to your financial institution
  • How changing regulatory requirements pose a risk if not tracked and managed properly
  • Breaking down institutional silos to build and maintain a better CMS
  • Reviewing, testing, and monitoring operations to ensure requirements are working as intended
  • Training business units
  • Correcting and preventing consumer harm

Who Should Attend
This session is ideal for anyone who needs a better understanding of a strong CMS, including new compliance officers, as well as those working in compliance, risk, auditing, and management.