Enterprise Risk Management
Summary
In this course, participants will take a look at key tools designed to help their credit union remain in compliance with current regulations. The course will cover Regulation D, Regulation E, and dormancy issues, along with other related issues brought forward by course participants. Course participants will also get a look at tools that will help them prepare for audits and examinations.
Audience
This class is designed for key credit union leaders, back office and compliance personnel, security officers, and member-service representatives.
Objectives
By the completion of this course, participants will be able to:
- List key compliance tools and ways they can be used to help credit unions adhere to regulations
- Identify red-flag tools
- List activity-monitoring procedures
- Identify areas typically vulnerable to suspicious activity
- Identify key auditing tools
- Maintain a compliance-responsive environment using the core
Topics
- Regulation D transactions
- Regulation D fee configuration
- Report of Transaction Accounts, Other Deposits, and Vault Cash (FR 2900)
- Definition of dormant member
- Dormancy fee configuration
- Regulation E transactions and statements
- Internal procedures for handling potential red-flag activity
- Red-flag tools
- Detecting unauthorized account access
- Detecting fraudulent activity
- Identifying inconsistent information
- File-maintenance logs
- CPA audit preparation
- Regulatory examination preparation
- Compliance software development
- CU*Answers compliance resources
