resignation letter

Great Resignation Hits Banks, Threatens to Raise Compliance Risk

TCA’s VCM Service Offers Support If You’re Facing Personnel Challenges

The great resignation has hit banks.

Hiring and retaining personnel, especially those with specialized experience, is challenging for banks.

That, coupled with other issues–a complex operating environment, greater cyber risk, and regulatory changes, for example –can raise your compliance risk.

Those are some takeaways from a new report, Semiannual Risk Perspective for Spring 2022 from the Office of the Comptroller of the Currency (OCC).

“A lack of access to subject matter expertise may result in increased compliance and operational risks, particularly if existing compliance processes, controls, testing, and training become subject to funding cutbacks or limitations, or if future compliance management program enhancements and maintenance are delayed,” the OCC notes.

If employee turnover and a shortage of experienced compliance officers with institutional knowledge have left you scrambling, consider TCA’s VCM service.

It provides short-term and temporary compliance assistance to keep your CMS on track.

We can help for as long as you need us, giving you breathing space and time to staff up with employees that are right for your bank.

We’re here to help for as long as you need us.

For more information about VCM and to discuss your needs, contact us at 800-934-REGS or [email protected]

Do You Need Compliance Help?

We’re here to review your current compliance strategy and help you find A Better Way to manage risk.

Phone

800-934-REGS

Email for Non-Confidential Information Only

[email protected]

Office Location

2021 Midwest Road, Suite 200,
Oak Brook, IL 60523

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