The Streamlined Business Blog

Are Your Bank Policies and Procedures Flexible Enough to Handle Exceptions?

Training bank employees and keeping them compliant with regulations is a big challenge. Just about every business is interested in improving organizational performance and with the increased regulations coming down the pike, it is only going to get more difficult to achieve compliance. As we shared in an earlier post, we have been spending time lately talking informally to bank regulators to get their insights on the role bank policies and procedures play in “keeping the bank out of trouble” and how companies can get a handle on this before the next regulatory tsunami hits.

What we learned was that the regulators want to see proof that the Bank has thought through all their corporate policies and set guidelines, directions, and exceptions that pertain to their unique situation. One of the biggest challenges is figuring out a system for dealing with all the complex exceptions and conditions involved in daily operations. (This comes up in other industries too. Can you say insurance claims processing?!)

One of the regulators we spoke with drove the point home by sharing a story of a problem he experienced as a Compliance Officer in a multi-location bank. The audience served by one location was very different than the customers served at another location. This presented many challenges; handling Customer Identification was one. The bank had no formal, written guidelines. Everyone just did what they thought was best which put the bank at risk and caused a lot of employee frustration and upset customers.

As this regulator put it: “Employees – especially those on the front line – have to know what to do in every weird situation. They need to know what to do when they are outside of the normal stuff.”

“Outside the normal stuff” can vary from bank to bank or even by location. A branch serving Population A may have different issues than a branch location that serves Population B with completely different demographics. So, when writing policies and procedures for your bank you need a system that is flexible and designed with these exceptions built in.

Through our Operations Mapping approach and Zavanta software, COMPROSE helps our clients design their policy and procedure systems with this flexibility in mind.

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Privacy Policy

Updated May 25, 2018

 

When you browse our website or register to access our resources or contact Sales, you’re trusting us with your information. We take our data privacy responsibility seriously and work hard to protect your information.

This Privacy Policy is meant to help you understand what information we collect. We explain how we collect it and how you can update, manage, export, and delete your information.

 

1. Visitors to comprose.com

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In general, we gather information about users of the Site collectively and anonymized in order to determine, for example, which areas users access more frequently and which materials users access the most.

This information helps us to determine what is most beneficial for our users, and how we can continually create a better overall experience for our users by improving the content of the Site.

There are times however, when we may need information from you, such as your name and address. Customarily, the personal information COMPROSE obtains is used only to respond to inquiries, to process orders, for product registration, or to allow us to email you information about our product and services.

We may also ask you to voluntarily provide us with information for market research such as, your interests, demographics, and experience with our products.

 

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COMPROSE’s Site may contain links to other websites. While COMPROSE tries to link only to sites that share its high standards and respect for privacy, COMPROSE cannot take responsibility for the content or the privacy practices employed by other sites.

 

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We do NOT collect any personal identifiable information if you are simply browsing our website.

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If you consent and send us your contact information, your data will be shared with the following third-party services:

We are collecting and storing the following personal information from you:

The third-party services we use are following rigorous data privacy standards and are compliant with the EU data privacy regulations GDPR.

How long we keep your data

If you have requested access to our Resources (feature videos, articles, white papers) we may from time to time send you emails.  We are constantly improving our product and publishing new content. You may opt out of our email campaigns at any time.

If you have signed up for a Zavanta trial, if you decide not to become a customer, we ask for your explicit consent to keep your contact information for future reference.

 

5. How to exercise your data rights

We are compliant with the EU data protection regulation GDPR. We are only collecting your contact information for our sales process. If you want to update, view, or delete your contact information please contact us at:

COMPROSE, Inc.

1-800-719-8964 | (314) 968-9977
9648 Olive Boulevard, Suite 205
Olivette MO 63132 USA

Sales & Marketing: info@comprose.com
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If at any time COMPROSE changes its privacy commitment, COMPROSE will post those changes here so that you will know what information COMPROSE gathers and how COMPROSE might use that information.

We will not reduce your rights under this Privacy Policy without your explicit consent.