AppliedCS vCO provides oversight of your Compliance Program Management. This also includes the development or fine-tuning of your internal Compliance Program. Your VCO can offer support for an existing Compliance Officer (if applicable) or, in most cases, will act as the Compliance Officer within your organization.

Your vCO will assist with policies, procedures, disclosures, and risk assessments, as well as provide input to ensure the institution is consistent with regulatory guidelines.

Your vCO will review any existing training program and help fill any gaps where additional or more intense training is needed.

Your vCO will establish a compliance monitoring schedule to map out required activities for the institution. They can assist by presenting appropriate solutions that address problem areas before audit examiners discover them.

Your VCO will be available by phone or email so your team can reach out with any regulatory questions.

A compliance officer’s duties include ensuring that an institution:

• Develops compliance policies and procedures
• Ensures that management and employees receive proper training in consumer protection laws and regulations
• Reviews policies and procedures for compliance with applicable laws and regulations and the institution’s stated policies and procedures
• Assesses emerging issues or potential liabilities
• Provides proper responses to consumer complaints
• Reports compliance activities and audit/review findings to the Board
• Ensures corrective action

AppliedCS guides and develops newly appointed or less experienced Compliance Officers to grow them and the institution’s Compliance Management Program while ensuring regulatory requirements are met. The vMCO will ensure the basic Compliance Management Program foundation blocks are set up to ensure future success by the newly appointed compliance officer.