Director of Risk and Compliance Management
jschupp@pohlconsulting.com
This business unit within the Pohl Consulting organization focuses on two components of a Wealth Management unit’s success equation:
Financial performance analysis and benchmarking are available through our TRUSTCOMPARE® division, including Trust pricing (PRICECOMPARE™) and Trust compensation (COMPCOMPARE™). Organizational Development services are available through Pohl Consulting and Training including sales and service training, sales management development, executive search, and organizational infrastructure development.
A poor examination report and or a downgrade in trust ratings jeopardizes all of the trust department other accomplishments. If you experience an examination/audit that identifies areas of your trust organization needing serious attention, our experienced trust professionals will help your team respond.
Regulatory examinations are a persistent reality of the trust world. A poor examination report and or a downgrade in trust ratings jeopardizes all of the trust department’s other accomplishments. Plans for the future must be put on hold until problems from the past, identified in the examination report, are corrected. Even when those problems are corrected, examiners will continue to closely monitor the corrections to avoid problems reoccurring.
The need for your trust department to continue to address any detected problems is a drain on both department resources and bank-wide resources. Future profitability is negatively affected by this ongoing distraction. Once the problem is identified, an aggressive and proactive remediation is best to limit the short and long term effect on the trust department and the bank. It is important to remember that examination findings that are not remediated properly, and that do not stay corrected, will result in your regulator involving the board of directors and board members personally to ensure appropriate remediation.
The Post Examination Response Assistance is a valuable tool to quickly and proactively avoid negative effects on profitability, reduce the trust exam impact to the rest of the bank, and limit the need to involve the board members on an individual basis.
Post Examination Response is usually an urgent, highly visible and emotional project for your entire organization. Without external help, it can seriously impact other priorities of your team such as client service, business development, and myriad day-to-day projects—all of which can impact profitability and likely your next exam or audit, not to mention the attitude toward the trust department within your organization.
Utilizing an experienced third party can be very positively perceived by regulators and senior management by demonstrating that you have taken the concerns seriously, obtained professional help, and addressed the concerns aggressively and proactively.
Our staff of experienced consultants has the unique ability to provide proactive and hands on compliance outsourcing support customized to the unique needs of your organization. The Compliance Outsourcing program is our most extensive program that involves our experienced professionals in the compliance function of your organization. In this program we take on most or all of the normal work of a Compliance Officer and provide hands on compliance guidance and leadership to your organization.
The regulatory environment continues to become more complex and more aggressive. The ongoing implementation of Dodd-Frank required regulations, the focused attention to all actions related to anti-money laundering, and the rise of the Consumer Financial Protection Bureau are all elements of the evolution of financial services regulation toward a law enforcement approach over the traditional supervision and support approach.
While regulatory pressure is becoming greater and more complex, two other business realities also exist. Financial pressure on most financial services organizations is near an all-time high. And even if the organization has the ability to add compliance staff, the availability of quality, experienced compliance professionals is limited.
The Compliance Outsourcing program is a valuable means to obtain quality, experienced legal and compliance veterans to support or lead your compliance program for a fraction of the cost of one full time junior compliance staff member
Do you want to stay current on your knowledge of compliance issues? Join our compliance conference call to share information with compliance-minded individuals from across the country. Our experienced consultants will facilitate the call, covering current topics in compliance, from the perspective of trust professionals who have recently experienced an examination. Each call will develop insights from those with recent examination experience, so you have a better understanding of what to expect.
This is a quarterly conference call with trust managers, compliance officers, chief fiduciary officers, bank auditors, and trust staff who are interested in what is going on in the regulatory landscape. The participants have the opportunity to hear from, and share with, their peers exploring recent examination experiences and current compliance topics of interest.
Typical Agenda
Schedule
Conference calls will take place on the second Tuesday of the second month of each quarter at 10:00am Central Time.
Investment
The cost is $250 per year, which will be invoiced in June of each year. New subscribers will be invoiced a pro-rata amount. However, this is a complimentary service for Pohl Consulting and Training retainer clients & Trustcompare® subscribers.
Contact us to discuss and explore possible fit.