Member Benefits: New era for the Compliance Vault

The ICBA Compliance Vault is an online resource tailored to the compliance needs of community banks.

Do the latest updates to regulatory requirements leave you or your compliance officers with questions? The ICBA Compliance Vault could have the answers.

The Compliance Vault is like a search engine for all things regulatory compliance, from the Bank Secrecy Act, Fair Lending and flood regulations to UDAAP. The resource, available at no additional cost to ICBA members, features more than 2,300 situational and technical Q&As, online courses and other regulatory publications to help community bankers respond to compliance challenges whenever they happen.

“We’re used to a real-time, all-the-time mentality, and that’s what the Compliance Vault is based on,” says Lindsay LaNore, group executive vice president of ICBA’s Community Banker University (CBU). “I think we all want to find an answer at our own convenience in a frictionless, on-demand manner. Compliance officers are putting out fires on a daily basis.

For even more compliance information, check out icba.org/compliance for ICBA’s other resources:

  • Bank Compliance Checkup Program
  • Compliance certification
  • Compliance webinars

“The Compliance Vault is here to be a resource for them to help them to do the necessary research, to help them put out those fires, in a more efficient, streamlined way.”

The resource contains information on more than 40 different laws and regulations and is updated frequently to reflect changes to regulatory requirements and industry best practices. Many of the Q&As are written by CBU instructors, ICBA partners and in-house experts, so the information is tailored to the needs of community banks. And unlike other services or third-party consultants, the Compliance Vault is accessible to any of your bank’s staff, which means they can do their own research, answer their own questions and learn on their own time.

“The Compliance Vault is empowering to the full suite of bank staff. It’s no longer limited to only selected employees at the bank,” LaNore says. “Self-directed learning can be empowering and offer a sense of responsibility and ownership to employees.”

Mandy Snyder, director of compliance and online training at CBU, adds: “The wider the range of learning options, the greater the opportunity is to engage employees. It helps you grow professionally, too. If you don’t know enough about a specific regulation, this is the resource to help you better understand it.”

The Compliance Vault is handy when your bank is working with regulators, who increasingly want to know where your compliance officers are seeking their information. “Compliance is constantly changing. Banks experience compliance regulation changes and evolving regulatory expectations on an ongoing basis,” LaNore says. “And what you have with the Compliance Vault is a resource that can help banks understand those changes and successfully implement what is needed.”

Visit icba.org/compliance-vault to get started.

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