Open Forum on SMAART Compliance > Credit Risk and Regulatory Reporting - Senior Consultant

As a retired examiner working with many FI's who are automating their lending operations (integrating their LOS systems to their core system), I'm seeing a lot of disconnects between IT, Loan OPS, and compliance. I like the Smaart Triangle approach, because it brings Compliance into the systems review and business process up front. Setting up a solid business process that involves IT, Loan OPS, lenders, AND Compliance first, is the only way an FI can have an effective compliance monitoring process, that then leads to the appropriate assessments, WITH accountability, and appropriate responses, with follow up training to ensure the business process is properly followed. This is by far the best way to ensure compliance, prevent violations and fines, and maintain a profitable and efficient lending program.
June 15, 2015 | Unregistered CommenterTuck Ackerman