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  • 1. IntroductionThe banking industry is continuously under the watchful eye ofthe government and the Federal Reserve. The government is incharge of setting restrictions on the banking industrys borrowinglimits and the amount of deposits that banks hold in their vaults.These restrictions have a tremendous impact on bankingprofitability. It is a federal law that banks must stay complaint tobanking restrictions.
  • 2. What is Compliance?Compliance is the act of adhering to a standard or a regulation. Compliance training is mandatory for all banking employees. This training tutorial will provide every employee with a basic knowledge about the compliance rules and regulations that pertain to their departments.
  • 3. Compliance Training ObjectiveThis training is intended to provide participantswith a step-by-step guide for regulatorymanagement while following existing federal,state and local regulatory laws corresponding tothe Banking branch departments.
  • 4. In this training course you will learn:What is regulatory compliance and it how it effectsDevon Bank. Knowledge of Devon Bank departmentalresponsibilitiesPenalties for noncompliance and institutional risks.How to Devon Bank employees avoid governmentpenalties and fines.Why compliance is important.
  • 5. Federal RegulationsIt is Devon Bank’s responsibility to complywith all federal rules and regulations inevery aspect of its business.All employees are expected to comply withFederal rules and regulations.
  • 6. FDIC Compliance GuidelinesCompliance examinations are the primarymeans the FDIC uses to determinewhether a financial institutions is meetingits responsibility to comply with therequirements and proscriptions of federalconsumer protection laws and regulations.
  • 7. FDIC ContinuedThe FDIC conducts three annual reviewsto determine whether of not an institutionis compliant to Federal regulations. Thethree supervisory activities are complianceexaminations, visitations andinvestigations.
  • 8. Who Regulates Devon Bank?Office of Comptroller of the Currency(OCC)Federal Reserve Member Banks (FRB)Federal Deposit Insurance Corporation(FDIC)Housing and Urban Development (HUD)
  • 9. Compliance ExaminationsCompliance examinations are primarilydone to assess the quality of an FDIC-supervised institutions compliancemanagement systemTo implement federal consumer protectionstatutes and regulationsTo review compliance with relevant lawsand regulationsTo initiate effective supervisory actionwhen elements of an institutionscompliance management system aredeficient or a significant violation of the
  • 10. Compliance VisitationsCompliance visitations are conducted bythe FDIC to review the compliance postureof newly chartered institutions comingunder FDIC- supervision, or in the intervalbetween compliance examinations toreview an institutions progress oncorrective actions.
  • 11. Compliance InvestigationsCompliance investigations are conductedprimarily to follow-up on particularconsumer inquiries or complaints,including fair lending complaints.
  • 12. Institution AwarenessAll employees of Devon Bank shouldfollow the rules and regulations whenperforming job duties.Devon Bank is responsible for promotingawareness for violation of laws andregulations.
  • 13. Regulatory ComplianceRegulatory compliance is the goal thatfinancial institutions aspire to reach in theefforts to ensure all personnel arecomplaint with relevant laws andregulations.At Devon Bank, all employees arerequired to conduct business in a legaland ethical manner.
  • 14. Things to RememberDo not discriminate against a client or employee because ofrace, gender, religion, national origin, color, age, disability,sexual orientation or preference or veteran statusCommit to the highest standard of business and ethicalconduct in all activities while representing Devon BankRespect the rights of othersAvoid conflicts of interest and self dealingBe award of laws, rules, regulations and policies that apply toyour jobPromote accuracy and truth in Devon Bank businesstransactionsMaintain absolute confidentiality regarding client’s recordsReport any perceived wrongdoing to your supervisor of theDevon Bank Compliance DepartmentDo not destroy any records except in accordance to DevonBank policy
  • 15. Now that you are aware of FDIC compliance guidelines that govern Devon Bank, we will next review responsibilites for the Human Resource Department
  • 16. Human Resouce ResponsibilitiesThe Human Resources Department goal is to improve the performance of individuals at Devon Bank. By increasing productivity of the workforce as well as increasing workplace performance.Due to the organization depending greatly on the expertise of the HR department, it is extremely important for HR assoicates to be knowledgeable on department regulations.
  • 17. Next we will review Federal Rules andRegulations for the Devon Bank Human Resource Department.
  • 18. Devon Bank Human Resource Department RegulationsAmerican Disabilities Act:The main aim of this disabilities act is tostop any kind of discrimination inemployment, transportation, publicprograms and services, telecommunicationsservices and public accommodation.
  • 19. American Disabilities ActThe main aim of this disabilities act is tostop any kind of discrimination inemployment, transportation, publicprograms and services, telecommunicationsservices and public accommodation.
  • 20. Bank Secrecy ActThis act requires financial institutions in the United States to assist United States government agencies to detect and prevent money laundering.Financial institutions are required to keep records of cash purchases of negotiable instruments and file reports of cash purchases of these negotiable instruments of ten thousand dollars or more.
  • 21. Patriot ActThe function of the Patriot Act is to deter and punish terrorist acts in the United States and around the world.The Patriot Act prevents, deters and helps prosecute international money laundering and financing of terrorism.
  • 22. Anti-Money LaunderingAre procedures, regulations or laws created to stop money launderers from making money coming from illegal or unethical sources look legitimate.
  • 23. Community Reinvestment ActDesigned to encourage commercial banks and savings associations to meet the needs of borrowers in all segments of their communities, including low-and moderate- income neighborhood.
  • 24. DiversityBank employees must understand the challenges that come with diversity such as the aspect of cultures having different standars for communication and different beliefs.By eliminating sterotypes and embracing diversity, individuals will be able to work through those difference in their workforce and maximixe the productivity of the organization.
  • 25. Elderly AbuseLegislation is being passed across the county due to many senior citizen being the victims of financial exploitaion. Should a bank fail to report suspicions of elder financial abuse, they will be held liable.
  • 26. Bank Bribery ActAmends the federal bank bribery law. Prohibits any employees, officers, directors, agents and attorneys of financial institutions form accepting anything of value for or in connection with any transaction/exchange.
  • 27. Gramm-Leach-Bililey ActRequires financial institutions that offer customers financial services or products like financial or investment advice. Loans or insurance to explain their information sharing practices to their customers as well as to safeguard sensitive data.
  • 28. Information SecurityBank employees must understand the importance of protecting customer and employee information, complying with the laws and regulations that required due diligence, following proper security policies and procedures, as well as reporting potential problems.
  • 29. Physical SecurityNational Institute for Occupational Safety and Health depicts workplace violence as any physical assault, threatening behavior or verbal abuse occurring in the work setting.Devon Bank employees should be knowledgeable and maintain awareness in regards to possible work place violence.
  • 30. Sexual HarassmentIt is necessary for all employees to be knowledgeable in what is and what is not acceptable behavior at Devon Bank.In order to minimize the banks sexual harassment complaints, all employee should keep a look out for inappropriate conduct/language, speak up to prevent it and report incidents with the HR.
  • 31. ADEAProtects individuals who are forty years of age or older from employment discrimination based on age. ADEAs protection applys to both current employees and job applicants.
  • 32. COBRACOBRA laws contain provisions giving certain former employees, retirees, spouses and children the right to temporary continuation of health coverage at group rates.COBRA is only available when insurance coverage is lost due to specific events.
  • 33. Equal Pay ActProhibits pay differentials based on gender for employees working in substantially equal jobs, requiring equal skill, effort and responsibility.
  • 34. ERISAEstablishes minimum standards for pension plans in private industry. ERISA provides extensive rules on the federal income tax effects of transactions associated with employee benefit plans.
  • 35. VESSA: The Victims Economic Security and Safety ActVESSA enables employees that are victims of domestic or sexual violence take a leave of absence up to a total of 12 work weeks within a 12 month period.
  • 36. Fair Labor Standards ActThe FLSA established a national minimum wage, guaranteed “time-and-a-half” for overtime, recordkeeping and youth employees.
  • 37. Family Medical Leave ActAllows eligible employees to take off up to 12 work weeks within a 12 month period for the birth or adoption of a child, to care for a family member or to take care of their own health condition.
  • 38. HIPAA: Health Insurance Portability and Accountability ActProtects health insurance coverage for workers and their families when they change or lose their jobs.
  • 39. OFCCP: Office of FederalContract Compliance ProgramsOFCCP bans discrimination and requires federal contractors/subcontractors to take affirmative action to ensure that all individuals have an equal opportunity for employment.
  • 40. OSHA: Occupational Safety Health AdministrationEnsures safe working conditions by authorizing enforcement of the State to ensure safe and healthful working conditions.
  • 41. Pregnancy Discrimination ActProhibits sex discrimination on the basis of pregnancy.
  • 42. Title VII: Civil RightsProhibited discrimination in public facilities, government and employment invalidating Jim Crow laws.It became illegal to compel segregation of the races in school, housing and hiring.
  • 43. USEFFA: Unifromed Services Employment and Reemployment Rights ActUSEFFA prohibits employers from denying any benefit of employment on the basis of an individuals membership.
  • 44. You have just completed the review of Federal Rules and Regulations for the Devon Bank Human Resources Department Next you will complete the practice activities
  • 45. Question #1ADEA protects individuals who are over the age of:a) 30b) 40c) 50d) Both B and C
  • 46. Question #2The following act allows employees to take off up to 12 work weeks in any 12 month period for the birth or adoption of a child:a) Fair Labor Standards Actb) Family Medical Leave Actc) Pregnancy Discrimination Actd) Rehabilitation Act of 1973
  • 47. Question #3The Hippa Act : a) Provides health insurance to all working employees b) Provides health insurance to workers who lose their jobs c) Protects health insurance for employees families d) All the Above
  • 48. Congratulations you have completed theDevon Bank Human Resource Department Compliance Training!