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- W133088171 abstract "[ILLUSTRATION OMITTED] As a non-techie, have you ever been tempted to ask your bank's director something like this: * Where can I view the Great Data Migration? * I M here--where are UAT? * Where can I see buildings that are examples of your local architecture? Christinne Johnson and Stuart Lehr set out to teach compliance officers at ABA's 2011 Regulatory Compliance Conference how to not only avoid embarrassing themselves with gaffes like those above, also how to get the action Compliance needs out of IT. Today, they pointed out, is essential to a compliance program's survival. So learning how best to work with staff, and learning some of the lingo, will help. A lot of the problem is that you get lost with the first acronym, when talking to IT, said Lehr. He and Johnson presented a short glossary of tech terms for compliance officers (opposite page). Compliance officers should prepare a similar list of their terms for IT, they said. Build a partnership with Lehr and Johnson, by background, come from the two sides of the cooperation issue. Lehr, a veteran compliance officer with larger institutions and with PayPal, is now industry principal at the Finacle division of Infosys Technologies Ltd. Johnson is executive vice-president, applications development, at FirstBank Data Corp. FirstBank Data is part of FirstBank Holding Co., a $10.9 billion-assets banking company based in Lakewood, Colo. (She's also spent time in compliance.) The pair stressed that communication will help improve things between Compliance and IT. Think of being a partner, said Johnson. She recommended that Compliance meet with to provide some perspective on how IT's efforts affect the bank's ability to comply, and how the bank's compliance affects the rest of the organization. Often, she said, is treated as a service provider, not as part of the bank's internal team, and doesn't see how projects fit into the whole, necessarily. Frequently, Johnson continued, finds itself in reactivity mode, with sudden demands dropped on it and no warning that they were coming. She urged compliance officers to give a rundown on what will be needed over the next year, to give management a sense of the resources that will be required to meet Compliance's needs. Compliance may not know everything that it will need for, she said, but you have some idea. IT lives and breathes 'project life cycles', said Johnson. The more Compliance identifies with that mindset, the more cooperation it will encounter. My own personal preference would be to know as early as possible, said Johnson. She suggested that Compliance write a formal forecast of needs that it will share with at its meeting, and update as circumstances and regulatory requirements evolve. Upcoming issues--like new interchange rules--that will require changes to bank systems are must knows, she added. Changes that will impact systems that involve outside vendors are especially important to know about as soon as possible. While internal systems can be more controllable, that doesn't mean changes will be simple, she pointed out. Regulatory requirements that affect a legacy system, for instance, may take extra time to update. In some cases the legacy system may even need to be replaced. The speakers acknowledged that even with communication and understanding, both Compliance and face the realities of business. Frequently there isn't enough staff, time, and money to address everything that needs doing on the ideal schedule. faces many demands besides those from Compliance. And resources are always limited. Sometimes you have to settle for the piece you can get, if it's enough, said Lehr. You have to compromise when you can. At times, the issue boils down to settling for what will simply achieve compliance, versus the ideal desired outcome. …" @default.
- W133088171 created "2016-06-24" @default.
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- W133088171 date "2011-08-01" @default.
- W133088171 modified "2023-09-24" @default.
- W133088171 title "Talkin' with the Techies: You Can Get Cooperation from Tech Staff and Vendors. Here's What to Say-And Not to Say. {COMPLIANCE CLINIC: COMMUNICATION TIPS)" @default.
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