Managing compliance demands for specialty finance organizations
Developing a comprehensive compliance management system
WHITE PAPER |
The Dodd-Frank Act and subsequent Consumer Financial Protection Bureau (CFPB) regulations have created a more complex regulatory environment for specialty finance organizations. Recent guidance has emphasized one key activity: the implementation of a process to manage a more complex environment. To that end, in fall 2012, the CFPB outlined expectations for a compliance management system (CMS) to exist at all organizations subject to compliance requirements.
While the concept of a CMS is not new, a deep understanding of recent CFPB guidance and renewed compliance expectations is imperative. A properly developed CMS mitigates the overwhelming regulatory risk in today’s unpredictable compliance environment, allowing you to concentrate on the success of your specialty finance organization. Read our white paper to learn the four elements of an effective CMS, and how a comprehensive risk assessment serves as the foundation for your program.