Credit Union Compliance Management System (CU CMS) · 2020-03-09 · 2 ADMIN DASHBOARD Your admin...

Credit Union Compliance Management System (CU CMS)Getting Started Guide

© Credit Union National Association 2019 11/7 1

Contents

Welcome . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4

1 How do we Make Compliance Easier? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Identify . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Assess . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Complete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Communication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

2 Admin Dashboard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

3 Side Menu Navigation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6

4 Review and Set Up Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

5 User Account Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

6 Credit Union Compliance Management System Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

6 .1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

6 .2 Cost Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

6 .3 Management Team Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

6 .4 Regulatory Authority Setup . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

6 .5 Complete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13

7 Review Laws/Regulations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

8 Add Documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

9 Compliance Alerts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

10 Change Workflow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

10 .1 New or Existing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

10 .2 Select Change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

10 .3 Compliance Alert . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

10 .4 Assess Change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

10 .5 Risk Assessment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

10 .6 Risk Assessment Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22

10 .7 Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

10 .8 Advertisement Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

10 .9 Implement Change . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

10 .10 Open Action Items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24

10 .11 Change Complete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

11 Review Action items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25


12 Advertisement Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

12 .1 New Advertisement Review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

12 .2 Marketing Advertisement Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26

12 .3 Advertisement Compliance Checklist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

12 .4 Advertisement Review Results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

12 .5 Complete . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

12 .6 Existing Advertisement Reviews . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30

13 Additional Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32

14 Key Terminology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33


WELCOME This guide is meant to help you get started with configuring your compliance program within the Credit Union Compliance Management System (CU CMS) . It provides an overview of the compliance management process and how it relates to the system . It also provides guidance around navigating to and using the major features within the system . For a more in-depth guide, refer to the Credit Union Compliance Management System User Manual .


1 HOW DO WE MAKE COMPLIANCE EASIER?The Credit Union Compliance Management System (CU CMS) walks you through the process of managing all your compliance obligations . The diagram on the left is a visual of this process .

IdentifyThe Identify stage in the process focuses on identifying the compliance requirements applicable to your insti-tution on a continuous basis . The CU CMS automatically generates compliance alerts, which notify the compli-ance management team that there are compliance requirements they may need to take action on .

The system also provides a library of applicable federal & state laws and regulations to help ensure any appli-cable requirements are part of the formal development process .

Assess The Assess stage helps you determine the level of impact law/regulation changes will have on your institution . The Change workflow allows you to do this by reviewing the changes and conducting an impact analysis and simple risk assessment .

Plan The next step in the compliance management process is to review the Change Plan . As risk assessments and impacts are documented, the tasks to address the required changes will be created automatically . These tasks make up the change plan, located within the Change workflow .

Complete The Complete stage of the compliance management process involves implementing the change plan . This involves completing action items, updating documentation, performing advertisement reviews, etc . Much of this process can be completed within the Change Workflow but can also be completed within other workflows as well .

Communication The Communication stage of the compliance management process involves communicating changes to all impacted areas as appropriate . This takes place primarily through dashboards, reports, and notifications . No-tifications are particularly important because as you go through the compliance management process, they inform the appropriate people of tasks and other items that require their attention .

Review The Review stage in the compliance management process primarily focuses on ensuring your organization stays in compliance with laws / regulations . This step is done outside the platform by periodically reviewing the requirements that apply to your organization – such as annual training, or annual board policy review . This concludes the overview of the process, now let’s get started .

Identify

Complete

Communicate Plan

Review Assess


2 ADMIN DASHBOARDYour admin dashboard has quick access links to common tasks in the software, reports, and charts giving an overview of your compliance program . You can access this dashboard at any time using the menu on the left-hand side of the screen by clicking on the Home button or within the menu by clicking Credit Union Compliance Management System > Dashboards > Admin .

3 SIDE MENU NAVIGATIONIn the white menu bar, use the Home icon to return to your admin dashboard . Use the Bell icon to view tasks and alerts . You will also get these notifications in your email inbox, but this allows you to view them all within the system . Use the Magnify Glass icon to search within the system . Use the question mark icon then the Get Help option to open an email addressed to CUNA’s support team . Click the Training option to navigate to CUNA’s training page for videos and user materials . Use the Trash icon to view or restore deleted records in the system .


4 REVIEW AND SET UP GROUPSThe first part of setting up your compliance program is to configure your organization’s groups . Groups within the software are the organization’s departments or business units and are tracked in hierarchical relationships . Groups are used for automating notifications and allowing access to documents, assigning tasks, etc .

1 . To create or edit groups, use the blue menu on the left and click on Administration > Add/Edit Groups .

2 . To create a new group, enter the name of the group in the Create New Group field and click the Create button .

3 . To select an existing group to edit, click on its name in the records list below .

5 USER ACCOUNT SETUP1 . To create a new account for a user, use the blue menu to navigate through Administration > Accounts .

2 . On the Accounts page, click the Add Account button in the upper right-hand corner of the screen . This will pop-up a box that will allow you to fill in the account information .


In the Add Users popup, create the employee by clicking the Add Employee button and filling in the user’s information . Please Note: Last Name, First Name and Email are required.

After adding the employee, the Add Users popup will populate with the information you entered and default the username . Select the user’s Security Group by clicking the Security Group dropdown . If you want the user to be notified via email of their login information, make sure the Notify User checkbox is clicked . This will send the user two emails, one containing the username and link to login and a second email containing their automati-cally generated password . Click the Create button when all information has been entered .


6 CREDIT UNION COMPLIANCE MANAGEMENT SYSTEM SETUPBefore you begin reviewing Laws and Regulations or Changes within the system, we recommend you begin by going through the Setup workflow and configuring your compliance program’s settings . To access the workflow, use the menu and click on Setup > Credit Union Compliance Management System Setup . If you filled out the CU CMS Onboarding Checklist it will aid in this process . Please Note: You can complete setup without completing the checklist.

6.1 IntroductionTo begin, in the Last Review Date field, type in today’s date or select it by clicking on the field and using the date picker . This will let future users know when these settings were last reviewed . Once complete, click the Next button .


6.2 Cost SetupOn this page, estimate the average dollar amount per hour of staff time . This field is meant to be an average of all staff hours and is used to calculate the costs per change . You can add as many rows of data as you like by clicking the Add button or remove rows by clicking the Trash icon . Once complete, click the Next button .

6.3 Management Team SetupOn this page, select who you would like to be part of the Compliance Management Team . These users will be notified whenever important updates to the system are made, such as new compliance alerts, changes are im-plemented, etc . Please Note: The users must already be setup in the system. Reference the User Account Setup section for how to add users.

To add specific users, Click the Add button .

To add specific users, Click the Add button .


A table will appear after adding the first user . You can use the Add button above the table to add more users . To remove users from the management team, click the Checkbox next to the record and click the Remove button above the table .

The Compliance Management Team Email (Optional) field allows you to enter an email to receive compliance updates in addition to the individuals selected above . This is intended to allow you to add an external distribu-tion list to receive updates . Please Note: This must be a single email address, not a comma delineated list. Once complete, click the Next button .


6.4 Regulatory Authority SetupThis page allows you to select your Primary Regulatory Authorities, which are used to determine the law/regula-tion name when there are multiple associated authorities . For example, if the CFPB and Federal Reserve jointly issued a final rule, the authority you selected as primary between those agencies would display in the name .

You can use the Add button above the table to add additional authorities . To remove an authority, click the Checkbox next to the record and click the Remove button above the table . In the popup, select Unlink .

If you selected multiple regulating authorities, determine the priority for each by updating the numbers in the Order field . This determines the primary authority that will be used if the previous one is not applicable .


Next, select the applicable States you would like to see content for . If you wish to select multiple states, hold the CTRL or CMD key on your keyboard while selecting . Please Note: you can return to this page to add or remove states at any time. Once complete, click the Next button .

6.5 CompleteClick the Return to Dashboard button to return to the dashboard .


7 REVIEW LAWS/REGULATIONSOnce you’ve completed the Setup workflow, you can begin reviewing the law/regulation library . The Credit Union Compliance Management System comes pre-populated with the various laws and regulations including the CFPB, Federal Reserve, FFIEC, FTC, NCUA and more .

To start reviewing this library, navigate to the Admin Dashboard, click the Laws/Regulations dropdown, and select either Law Regulation Library or one of the various pre-populated reports .

To review a specific law/regulation from one of these reports, click the Edit Record icon next to the desired law/regulation . Please Note: You can search the reports by clicking Ctrl + F on your keyboard .

For each law/regulation, review the various requirements and other information and consider how it impacts your institution . First, select the appropriate Law/Regulation Implementation Status:

o Compliant – Select this option if your institution is compliant with this law / regulation .o Exception/Not Applicable – Select this option if your institution is an exception or the law/regulation is

not applicable to your institution .o Change Pending – Select this option if there is a change associated with this law / regulation pending

completion .


If there are any CUNA Mutual Group Alerts relating to the law/regulation, they will be linked in the CUNA Mutual Group Associated Risk Resources section . Admins will receive an email to assign these risk alerts as action items for review when they are added to the system . For more information, please see the Review Action Items portion of this guide .

You can enter notes on the law/regulation in the Credit Union Notes section . If your credit union has specific requirements for the law/regulation, you can enter them in the Credit Union Specific Requirements section .


Related changes will link in automatically . You can link in any associated policies, and/or product/services as necessary .

The Credit Union Compliance Management System (CU CMS) also provides a number of reports to assist in re-viewing laws and regulations, located on the Admin Dashboard under the Laws/Regulations dropdown .


8 ADD DOCUMENTSNext, add any documents you would like to include in your compliance program (such as policies, procedures, etc .) that might be impacted by changes . To do this, navigate to the Admin Dashboard, click on the General dropdown, and select Add/Edit Document . For more information, please refer to the Credit Union Compliance Management System User Manual .

9 COMPLIANCE ALERTSBegin identifying and managing your compliance obligations using ongoing compliance alerts . When a new compliance alert is available, you will be notified with an email containing a link to the alert within the system .

To access alerts outside of the email, navigate to the Admin Dashboard, click on the Alerts dropdown, and select Review Compliance Alerts . Please Note: This page will only show alerts whose related change workflow has not been completed. You can access all compliance alerts by selecting the report All Compliance Alerts .


Once in a compliance alert, you can navigate directly to the related change workflow by clicking the Review Change button at the bottom of the page .


10 CHANGE WORKFLOWThe next step is to start reviewing the changes currently in the software using the change workflow . Change profiles are auto-matically created as compliance alerts are sent out . To access the workflow, navigate to Admin Dashboard, click the Change dropdown, and select Add/Edit a Change .

10.1 New or ExistingTo get started, click on the Existing Change button .

10.2 Select ChangeNext, find the desired change in the table . Click the Click for Next icon to proceed with the change you would like to review .


10.3 Compliance AlertOn this page, review the compliance alert information (including the Compliance Alert document) . Once complete, click the Next button .

10.4 Assess ChangeOn the Assess page, review and update the change information as necessary, such as the Change name and Description . Select the Person Responsible for the change . This is the primary person who will be notified as items are completed and the change moves through the process .

Next, review and update the law / regulation information as necessary, such as the Law/Regulation Status, Issue Date, Comments Due By date, Comments Provided to Regulators, and the Comments Provided Date .


Next, conduct an impact analysis to indicate how the change affects your institution . This involves selecting the Business Unit(s) Impacted, linking Documents Impacted (Refer to the Add Documents section of this guide for how to add documents to system that can be linked here), Products/Services Impacted, and uploading any relevant files in the Digital File Cabinet .

Finally, select the Change Status . If the change is not applicable to your institution, fill in the CU Exemption Comments and the Comments to explain why, then click the Change Not Applicable button . Otherwise, click the Next button to continue to the next page of the workflow .


10.5 Risk AssessmentThe next step in the change process is to perform a risk assessment on the change . Select the Impact, Likelihood, Control Reduction (%) Override, and the Risk Assessment Date . For more detail on these options, click on the More Info button at the top of this page . When you are finished, click the Next button .

10.6 Risk Assessment ResultsThis page provides a summary of the risk assessment’s results . To view a summary of the risk assessment, click the Risk Assessment Report button . When you are finished, click the Next button .


10.7 PlanOn this page, develop a plan to comply with the change by Assigning Action Items to individuals, setting Deadlines, and the current Action Status . Users will update the status and actual time (hours) during implementation .

Click on the Notify Assigned Users button to inform users that an action item has been assigned to them . Update the Change Status as necessary . When you are finished, click the Next button .

10.8 Advertisement ReviewIf any documents you linked to the change as impacted via the Assess Change page were marketing ads, you will be asked if you would like to perform an advertisement review . If yes, follow the steps in the Advertisement Review portion of this guide .

10.9 Implement ChangeIf you are the one completing action items, you can do so on this page of the workflow or in the workflow described in the Review Action Items portion of this guide .


As the assigned users work on action items, the system will update this table with the Action Status, Completed Date, Action Item Comments, and the Actual Time (Hours) that it took to complete the action item .

When all items within the change plan are complete, click the Mark Implementation Complete button at the bottom of the page . Please Note: In order to mark the implementation complete, all action items must be completed. Otherwise you will be taken to the Open Action Items page.

10.10 Open Action ItemsOn this page, please review the incomplete action items . If you would like to complete the change without completing the remaining action items, click the Mark Implementation Complete button . Please Note: This is NOT recommended and could result in potential non-compliance.

Otherwise, edit the action items as necessary, reassigning users, updating deadlines, etc . When you are finished, click the Notify Assigned Users button .


10.11 Change CompleteThe change is now complete . The Actual Impact of Change portion of this page displays the Actual Implementation Time (Hours) and Actual Cost of The Change .

To view a report summarizing the change information, click the Change Summary Report button .

To continue reviewing additional changes, click the Select Additional Change button .

11 REVIEW ACTION ITEMSThis workflow will guide you through the process of reviewing and completing action items assigned to you . This workflow can be accessed from the Action Item Assigned email notification you will be sent or by navigating to the Admin Dashboard, clicking on the Change dropdown, and selecting Review Action Items .


12 ADVERTISEMENT REVIEWThis workflow will guide you through the necessary steps to ensure your advertisement is in compliance .

Advertisement reviews can be performed within the Change workflow, Add/Edit Document workflow, and within the Advertisement Review workflow, which can be accessed by navigating to the Admin Dashboard, clicking on the Advertisement Review dropdown, and selecting Perform Advertisement Review .

12.1 New Advertisement ReviewTo begin, click the New button . For information on performing an advertisement review on an existing advertisement, see Existing Advertisement Review section .

12.2 Marketing Advertisement OverviewOn this page, update the Document Name and Document Owner fields .


If not already present, upload the advertisement file into the Digital File Cabinet and click the Refresh Document Viewer button at the bottom of the page . Review the document as necessary .

Check the box for each applicable Advertisement Medium . Next, link up to five Products/Services related to this advertisement . Please Note: If more than five products/services are linked in, you will not be able to proceed in the workflow. When you are finished, click the Next button.


12.3 Advertisement Compliance ChecklistFill in the Review Date and who the advertisement was Reviewed by .

Next, Answer the questions included in this review . If any of your answers are not in compliance/best practice, please provide a response in the Comments column detailing why .


Depending on your answers to the checklist questions, you will be taken to one of the following pages:1 . If any questions were not answered, you will be taken to the Incomplete Checklist Items page where you

can answer the remaining questions . Please Note: You will not be able to proceed in the workflow until all questions have been answered and responses provided.

2 . If any of your answers were not in compliance/best practice, you will be taken to the Review Compliance Response page where you can review these questions enter a compliance response . Please Note: You will be required to leave a comment.


12.4 Advertisement Review ResultsThis page displays a report with all your advertisement review information, checklist results, and document file . You can download or print this page by using the Download or Print Preview button at the bottom of the screen . Click the Next button to complete your review .

12.5 CompleteThe advertisement review is now complete! To begin a new review, please click Return to Start . Otherwise, click the Return to Dashboard button .

12.6 Existing Advertisement ReviewsOn the Advertisement review landing page, to work on an Existing marketing advertisement document click the Existing button then select the existing advertisement by clicking the Click for Next icon in the table .


Review the Marketing Advertisement Overview page and click the Next button . If you would like to edit an Existing Review/Checklist for this advertisement, click the Proceed with this Record icon next to the desired review .

If you would like to create a New Review/Checklist for this advertisement, click the Create Additional Ad Review button .

Review the Advertisement Compliance Checklist, Advertisement Review Results, and Complete sections in this guide above for next steps if needed .


13 ADDITIONAL RESOURCESFor additional information, please refer to the Credit Union Compliance Management System User Manual and/or the Training Videos . You can access these resources by navigating to your Credit Union Compliance Man-agement System dashboard, clicking the Get Help dropdown and selecting CU CMS Training .


14 KEY TERMINOLOGY A full compliance glossary containing key terms and acronyms can be found on your admin dashboard by clicking the Resources dropdown and selecting Compliance Management Glossary .

Action Items Action items (or operational action items) are the tasks, or defined steps that are to be taken for implementing a compliance change .

Action items are pre-populated into the system from the compliance alert . In Credit Union Compliance Management System PLUS you can add your own action items .

Advertisement Review

Advertisement reviews can be performed on marketing advertisements to ensure that the appropriate compliance requirements are being met . The review consists of an intuitive checklist based on the product/services associated with the advertisement and is intended to guide the user through the review process covering all of the applicable regulatory requirements .

An ad review can be performed from the dashboard, within the change workflow or in the add/edit document workflow .

Authority Authority in the system refers to the public authority or government agency responsible for implementing and enforcing laws enacted by legislatures . i .e . National Credit Union Administration (NCUA) .

You can select specific authorities within the Credit Union Compliance Management System setup workflow to help filter out laws/regulations that may not affect You . CUNA has determined the default authorities for credit unions out of the box .


Change (Change Workflow)

A change is the actual record created within the system when there is a regulatory change (i .e . the NCUA changes the threshold of deposit insurance required) . A regulatory change is initiated by receiving a compliance alert . The software will walk you through and store all the data about the change including impacts, non-compliance risk assessment, action plans, evidence of compliance, etc .

In the Credit Union Compliance Management System PLUS you can also use the change workflow for any internal driven change (i .e . the credit union adds a new product to its portfolio) .

Compliance Alert A compliance alert is a notice of an upcoming change to an existing regulation or a new regulation that is being issued .

This alert initiates an e-mail notification from the software regarding the alert . When we push a compliance alert, a ‘Change’ will also be created in the system and will pull in information from the alert such as: effective dates, executive summaries, action items, etc .

Compliance Program

The method of managing the entire compliance process designed to ensure all policies, procedures, and practices are in full compliance with the requirements of Federal consumer financial law .

Dashboard Dashboards are the homepages of all Quantivate modules . They provide quick and easy access to the organization’s data and provide users with a focused view of their roles within the system .

Groups Groups are often set up as the departments within an organization . i .e . Account Services, Compliance, etc .In the system, these groups are used for automating notifications and allowing access to documents, assigning tasks, etc .

Modules Modules are individual software systems that serve unique business needs . Modules are buildable; meaning when you have 2 or more, they will all integrate and build a more complex system .

Other Quantivate modules available for purchase; Enterprise Risk Management (ERM), Business Continuity (BC), Vendor Management (VM), IT Risk Management, Internal Audit (IA), Complaint Management

Non-Compliance Risk Assessment

Once a compliance change has been identified, the next step is to perform a risk assessment . This is an assessment of organizational risk associated with failing to comply with industry laws and regulations or internal policies . In the Credit Union Compliance Management System, you can do a ‘quick’ risk assessment where you identify compliance risk impact, likelihood and control reduction .

In the Credit Union Compliance Management System PLUS you can do multiple risk assessments and have the option of drilling down into a more advanced risk assessment that includes linking in associated risks and performing an analysis of control effectiveness .


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