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Planning Regulatory Compliance
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Planning Regulatory Compliance

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  • 1. Planning Regulatory Compliance A 9-Step Process to Implementing Mortgage Lending Regulatory Changes Prepared by Edward A. Haskin Financial Services Project Manager
  • 2. Scope Planning  What is the New Requirement?  Licensing Provisions  Review Regulation  Review Summaries/Opinions  Define Scope ◦ Clarify the boundaries of the requirement by identifying the inclusions and exclusions so all parties are clear about the limits.
  • 3. Develop Activity List Task Breakdown Task Description HR Needs Task Duration
  • 4. Schedule Development  Implementation Date  Task Sequencing  Task Duration Estimating  Task Dependencies  Testing  Risk Planning Outputs
  • 5. Costs Involved  Personnel  IT  Training  Cost Estimation  Cost Budgeting
  • 6. Quality Planning  Checklists  Testing/Audits  Process Control Charting  Process Improvement Plan
  • 7. Human Resource Planning  Roles and Reporting Relationships  Staffing Plan  Position Descriptions  Outsourcing???
  • 8. Communications Planning  Whom Do You Communicate With  Proposed Changes  Stakeholder Communication  Communication Methods ◦ Memo, Email, In-Person Presentations  Information Distribution  Performance Reporting
  • 9. Risk Planning  Risk Identification ◦ Internal ◦ External ◦ Technical  Risk Analysis  Risk Response
  • 10. Contract Planning  Forms  LOS System  HMDA  Outside IT
  • 11. End Product  Management Plan of the Implementation for the new Requirement  Use as Baseline for Execution and Control.  Close Implementation  Lessons Learned  Transfer of Knowledge to Next New Requirement