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Compliance Requirements for Records Management and Retention

Review of the critical compliance requirements for record retention, and formulating and maintaining an effective records management program.

OnDemand
Recorded Wednesday,
July 24th, 2024
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Deposit Compliance
  • General Compliance
  • Information Technology/Security
  • Lending Compliance
  • Mortgage Lending
  • Risk Management/Legal
  • Bank Legal Counsel
  • Branch Manager
  • Compliance Officer
  • Internal Auditor
  • Privacy Officer/Information Security Professional
  • Risk Manager
  • Senior Management
  • Training Manager
  • Trainer

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Retention and management of records is more complicated than just deciding what to keep and for how long.

In what form should records be kept? Should we keep more than what the regulations require? If so, what? What about possible litigation needs?

Examiner expectations must be met of course, but other parties, such as law enforcement, auditors, and of course your customers, may require access to information as well. To manage a program in a cost-effective manner, compliance professionals must rely on information from a broad range of resources within the organization.

Records management is the point of convergence of these resources, which is why effective and reliable records management must be part of your Compliance Program.

What You'll Learn

  • Types of information that constitute a record that we should retain
  • Retention requirements
  • Best practices we can follow
  • How to set up or enhance your bank’s records management program
  • Risks involved in records retention
  • What an effective and comprehensive program looks like
  • How the program should be organized - a taxonomy hierarchy
  • Litigation needs - how does this process factor in
  • Destruction of records and information - when and how this should be done

Who Should Attend

Anyone involved in the creation, management, and destruction of information and records will benefit from the knowledge shared in this session, including compliance officers, auditors, information security and management, IT personnel, senior management, bank counsel, operations, privacy, and others with a vested interest to ensure a cost-effective and comprehensive records management program.

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Asurity Advisors in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Compliance Requirements for Records Management and Retention has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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