Your Compliance Management System Health Check-Up

Have you given your finance company's compliance management system a health check-up lately? Just as you review and continually improve other processes in your business, you should assess your compliance program on a regular basis to see where you can make improvements to strengthen your program. Your regulators expect you to have an effective program in place. Self-assessing your program and continually making changes and adjustments to improve your program can help keep your regulators and audit staff content, and avoid fines, enforcement actions, losses, complaints and litigation.

In this article, we review the components of a strong compliance program and provide you with an assessment tool to help you evaluate your program and determine where you can make improvements.