The NAFCU Journal January-February 2020 - 37

policies and procedures, so that the
credit union appropriately manages the
risk presented.

The Role of Training in Building
Organizationwide Compliance

When implementing a compliance strategy, it is important to include all units
and departments of a credit union and
consider training as part of establishing
a culture of compliance. Everyone in the
credit union, including management,
must be aware of compliance requirements and given regular training and
education tailored to address the specific
risks the credit union faces.
Regulators generally expect compliance training to be comprehensive,

timely and specifically tailored to the
particular responsibilities of the staff
receiving it, including those responsible for product development, marketing and customer service. Conducting
training in advance of the introduction
of new products or new consumer protection laws and regulations ensures
that all staff are aware of compliance
responsibilities before the rollout or
effective date. Including senior management in training sessions may
help demonstrate the importance
of compliance.
A strong culture of compliance reinforces proper behavior by holding
employees accountable when they
deviate from following the rules.

Some credit unions have implemented
disciplinary and incentive programs
as part of their culture of compliance
to ensure employees have a clear
understanding of expectations,
to acknowledge unacceptable
behavior and to reward compliant
behavior. Embedding compliance
into everyday workflow sets the
foundation and expectations for
individual behavior across the
credit union. Credit unions with
a strong culture of compliance
cultivate an environment in which
adhering to laws and regulations
is an important priority.
Alma Calcano is NAFCU's regulatory
compliance specialist.

NAFCU Compliance,
Risk & BSA Network
Connect. Share. Discuss. Grow.
Join NAFCU's free,
member-only online
community exclusively for
compliance, risk and BSA
credit union professionals.
Learn more:
nafcu.org/compliance-net

THE NAFCU JOURNAL JANUARY-FEBRUARY 2020

37


http://www.nafcu.org/compliance-net

The NAFCU Journal January-February 2020

Table of Contents for the Digital Edition of The NAFCU Journal January-February 2020

The NAFCU Journal January-February 2020
Contents
Conferences
From the Chair
2020 Advocacy Priorities
The Bottom Line
Leadership Download
Warning: Speed Bumps Ahead
Stepping Into 2020
2020 Vendor Directory
Executive Spotlight
Management Insight
Compliance Central
Inside NAFCU Services
From the President’s Desk
The NAFCU Journal January-February 2020 - The NAFCU Journal January-February 2020
The NAFCU Journal January-February 2020 - Cover2
The NAFCU Journal January-February 2020 - Contents
The NAFCU Journal January-February 2020 - 2
The NAFCU Journal January-February 2020 - Conferences
The NAFCU Journal January-February 2020 - From the Chair
The NAFCU Journal January-February 2020 - 5
The NAFCU Journal January-February 2020 - 2020 Advocacy Priorities
The NAFCU Journal January-February 2020 - 7
The NAFCU Journal January-February 2020 - The Bottom Line
The NAFCU Journal January-February 2020 - 9
The NAFCU Journal January-February 2020 - Leadership Download
The NAFCU Journal January-February 2020 - 11
The NAFCU Journal January-February 2020 - Warning: Speed Bumps Ahead
The NAFCU Journal January-February 2020 - 13
The NAFCU Journal January-February 2020 - 14
The NAFCU Journal January-February 2020 - 15
The NAFCU Journal January-February 2020 - 16
The NAFCU Journal January-February 2020 - 17
The NAFCU Journal January-February 2020 - Stepping Into 2020
The NAFCU Journal January-February 2020 - 19
The NAFCU Journal January-February 2020 - 20
The NAFCU Journal January-February 2020 - 21
The NAFCU Journal January-February 2020 - 22
The NAFCU Journal January-February 2020 - 2020 Vendor Directory
The NAFCU Journal January-February 2020 - 24
The NAFCU Journal January-February 2020 - 25
The NAFCU Journal January-February 2020 - 26
The NAFCU Journal January-February 2020 - 27
The NAFCU Journal January-February 2020 - 28
The NAFCU Journal January-February 2020 - 29
The NAFCU Journal January-February 2020 - 30
The NAFCU Journal January-February 2020 - 31
The NAFCU Journal January-February 2020 - 32
The NAFCU Journal January-February 2020 - 33
The NAFCU Journal January-February 2020 - Executive Spotlight
The NAFCU Journal January-February 2020 - Management Insight
The NAFCU Journal January-February 2020 - Compliance Central
The NAFCU Journal January-February 2020 - 37
The NAFCU Journal January-February 2020 - Inside NAFCU Services
The NAFCU Journal January-February 2020 - 39
The NAFCU Journal January-February 2020 - From the President’s Desk
The NAFCU Journal January-February 2020 - Cover3
The NAFCU Journal January-February 2020 - Cover4
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