Payments Hot Tip: A culture of compliance starts at the top, but documentation drives clarity.
“A strong compliance culture begins with management setting the tone through their actions, decisions, and commitment to ethical standards. To lead effectively, management must first have a clear understanding of compliance requirements themselves, enabling them to make informed decisions, and guide their teams with credibility and confidence.
To support this culture, financial institutions should clearly document compliance expectations in policies, procedures, and training materials. This documentation provides a reliable framework that reduces the risk of misunderstandings and helps to embed compliance into everyday operations.
Regular audits and risk assessments should be conducted to ensure compliance, verify that expectations are being met, and to identify new or overlooked risks.
Ultimately, when leadership leads by example and expectations are clearly defined, a culture of compliance can take root and thrive.”
-- Catherine R. Bishop, AAP, APRP, NCP, VP, Payments Risk & Compliance
For more information to help you in building a culture of compliance, join us for the two-part webinar, “Advanced ACH Rules and Compliance: Ensuring Operational Excellence.” Taking place 9:00 – 10:30 a.m. CST on September 16 and 17, this webinar will provide comprehensive knowledge to enhance ACH operations and ensure adherence to regulatory standards.
