By Cody Roberts
As a compliance professional, you probably have to train a number of different types of employees periodically. This may include audiences as different as loan officers, tellers, or members of the board of directors. As such, one question you must address is also one of the most difficult: how do you convince employees that compliance is important?
I suggest a carrot–and a stick.
The Carrot – Compliance Can Make Everyone’s Job Easier
The carrot is relating how the institution works so much better without needless auditor and examiner scrutiny. Of course, following laws and regulations is also the right thing to do.
The Stick- Avoiding Penalties and Fines
The stick is the penalties that are meted out when the carrot route fails. To find a list of such penalties, the BankersOnline Penalties page is a great place to start. This page can be found at https://www.bankersonline.com/penalty. There you can view items by penalty type (e.g., BSA-AML CMPs) and agency (e.g., FinCEN, FDIC, etc.).
I suggest picking a topic and showing recent penalties for training on the applicable regulation. I guarantee that these penalties will have a definite impact on your audience. Board members will see fines with lots of zeros. Loan officers will see lifetime bans from banking. Tellers can see other tellers getting cited for BSA errors.
And compliance personnel will see what is being emphasized by examiners, helping them with their own training.
This balanced approach to training can be very effective and impactful for the entire organization.
ABS is here to assist with your compliance needs! Contact us at (405) 607-7000.
