Musings from the CU Suite

Written by Anthony Demangone

Actually, you may not want to.

I was talking about giving your compliance officer a hug. But a good compliance officer might point out that giving a hug might not be such a hot idea. EEOC complaints. Employee handbooks. And such. 

And when I say "compliance officer," I really include auditors and risk management peeps as well.

Are they sticks in the mud? Nope. Risk-management machines? You bet. 

Good compliance officers detect risk, and manage it. Is this a big deal? You tell me. From this week's headlines...

• BNP Paribas to pay roughly $9 billion in fines for violating U.S. anti-money laundering laws. 
• Citibank will pay $7 billion to settle mortgage probe.
• Goldman Sachs, who knows a thing or two about regulatory headaches, just added its chief risk officer to its management committee. 

I could find more examples, but I think you get the point. Sometimes, we need that voice of caution.

Hug or no hug.

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I'll be giving out hugs to compliance officers at NAFCU's Regulatory Compliance Seminar this fall in beautiful Baltimore, Maryland. I'll see you there!