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American Bankers Association Certified Regulatory Compliance Manager Exam
- Topic 1: Review first line compliance monitoring results and develop an action plan as needed/ Coordinate and submit ongoing regulatory reports to auditors/examiners
- Topic 2: Develop, conduct, and track enterprise-wide and/or job-specific compliance training/ Act as a compliance subject matter expert on projects and committees
- Topic 3: Develop, implement, and monitor a plan of action to prevent future reporting errors or breakdowns/ Define the scope of a specific monitoring or testing activity
- Topic 4: Complete requiredreporting, ensure timely submission to the appropriate agency, and resubmit when required/ Participate in conducting due diligence for vendors
- Topic 5: Report on the status of regulatory changes and implementation to appropriate parties/ Validate that any required remediation was completed accurately and within required timelines
- Topic 6: Assess regulatory guidance and compliance enforcement actions/ Design and maintain a comprehensive compliance risk assessment program
- Topic 7: Identify and mitigate risk within the organization?s risk appetite/ Determine if remediation is required to address potential compliance impacts
- Topic 8: Evaluate the reliability of systems of record and the validity/ Conduct periodic reviews of the compliance management program to evaluate its effectiveness
- Topic 9: Provide compliance supportto internal and external parties/ Report on action plan status to appropriate levels of management and auditors/examiners
- Topic 10: Establish and maintain a compliance management policy to set expectations for board/ Compliance Analysis and Internal/External Reporting
Free American Bankers Association Certified Regulatory Compliance Manager Exam Actual Questions
The questions for Certified Regulatory Compliance Manager were last updated On Apr. 23, 2024
The BSA officer has just been notified by the chief operations officer that, due to a glitch in the bank's OFAC interdiction software, wires have been regularly transmitted to a bank on the SDN list. Based on the OFAC Enforcement Guidance, what should the BSA Officer do FIRST to attempt to mitigate any penalties?
A routine review of account records reveals that suspicious activity involving foreign currency has occurred in the account of one of the bank's directors. Which of the following actions should be taken FIRST?
Which of the following countries are currently subject to the Office of Foreign Assets Control Regulations?
The manager of Main Street branch calls and relates the following information: John Smith purchased a cashier's check for $1,000 cash at 10:00 a.m. on Tuesday. At 11:30 a.m. Mr. Smith returned and purchased a cashier's check for $2,500 cash and deposited traveler's checks totaling $9,000 into his checking account. At 4:00 p.m. Mr. Smith returned and deposited $8,000 cash into his checking account. This deposit was after normal banking hours, so it was recorded as of Wednesday's business date. What action should the bank take?
For which of the following is a bank most likely to be in danger of receiving a cease and desist order?
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