- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-11-25T18:27:00
How can true cooperation be achieved when the solution being proposed is essentially to pit high-risk, controversial banking customers against the banks with which they want to do business, wonders Jaclyn Jaeger.
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The Office of the Comptroller of the Currency published its much-criticized “Fair Access to Financial Services” rule the same day Acting Comptroller of the Currency Brian Brooks announced he is stepping down.
The U.S. banking industry is stable nearly nine months into the coronavirus pandemic, but the OCC warns of increased risks for banks seeking to comply with the Bank Secrecy Act and consumer protection and fair lending requirements.
Federal banking regulators have released new operational resiliency guidance aimed to strengthen risk management around technology-based failures, cyber-incidents, pandemic outbreaks, natural disasters, and more.
Top-of-mind issues addressed at Compliance Week’s Third-Party Risk Management & Oversight Summit, held June 3-4 in Atlanta, included safe deployment of artificial intelligence, assessing vendor viability and sustainability, understanding the role of procurement in risk ranking, the intersection (or lack thereof) between data privacy and cybersecurity, and many others.
Anne Morriss, co-author of “Move Fast and Fix Things,” advises compliance officers to tap into curiosity, communicativeness, and comfort with discomfort to build organizational trust, fast.
Regulators and government agencies often speak to the value of empowered corporate compliance programs to advancing their mission. Why not practice what they preach by empowering compliance among their own ranks?
