A compliance professional is a member of the task force studying how the bank can reduce customer complaints about holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?

Question

Quizplus · Accepted Answer

As a compliance professional, the most important role would be to validate the system to ensure that it complies with regulatory restrictions. Compliance professionals are responsible for ensuring that the bank follows all laws and regulations, so it is crucial that the proposed system does not violate any rules or laws. While developing training for tellers (A) and setting parameters for the system (B) are important, they do not carry the same weight as ensuring compliance. Conducting a cost-benefit analysis (D) is important, but it is not the most important role for the compliance professional.

A Compliance Professional Is a Member of the Task Force