As we do every January, we look at the New Year with a fresh set of eyes and start strategizing about managing new goals.
In starting our new journey into 2023, it’s an important time to pause (for a moment at least), and take stock of what we accomplished in the last year. This is the perfect time to review those 2022 goals and make sure nothing slipped through the cracks. Ask yourself…Did I fulfill what I needed to? Did I miss anything? If so, you can take steps now to tighten up any loose ends. Next, you can turn your attention to 2023. As you know, our Online Compliance Consulting practice has always considered planning and strategizing as key components in successfully tackling the countless responsibilities that those in the compliance industry face.
With that in mind, it is particularly important to take a look at your Compliance Management System (CMS) and make any adjustments needed to strengthen it and make it more robust. Also, you’ll want to ensure you start the year off on the right foot and be cognizant of what’s already on the calendar.
To assist in this process, SC+S has developed a bundle of checklists.
First, we have a set of 2023 Compliance Program Checklists that provides more specific and detailed steps you can take in strengthening your program. This valuable resource incorporates checklists for the new year, including a list of compliance Items that should already be on your 2023 calendar, as well as policy reviews, compliance reviews (internal and external), and compliance training.
Second, we also have a new workbook dedicated to UDAAP Considerations. The information provided therein may be used as part of an institution’s considerations of any act or practice, existing or proposed, as to whether it could be construed as unfair, deceptive, or abusive.
Third, we also have a Compliance Management System workbook that contains various checklists that will help you focus on important aspects of your CMS. While it is a higher-level resource, it outlines important considerations and focuses attention on CMS-related issues, such as board and management oversight, as well as critical program components such as implementation of controls and involvement in change management.
Our clients can find these resources in the Online Compliance portal’s Knowledge Base, within the SC+S Tools, Checklists, and Guides folder.