This manual shows how to improve your credit union's efficiency and compliance.
This helpful manual provides:
• Compliance checklists organized by individual products and services
• A risk assessment matrix helps you easily assess and record your credit union's specific level of risk for the various compliance requirements as they become effective
• The assessments allow you to assign a risk rating, thus prioritizing your credit union's needs and maximizing your resources
• A compliance calendar gives you a quick reference for changing requirements
Risk assessment is an essential part of your risk-based compliance audit for all of your products, services, and activities. To satisfy the regulators, you need to consistently and constantly weight risks against benefits, and make decisions accordingly.