Certified Regulatory Compliance Manager (CRCM) — Question 7

In a compliance program, tactical compliance procedures should be integrated into business line procedures, such as how to deliver an Adverse Action Notice when an application is declined. In this case:

Answer options

• A. Regulations should be applied consistently to procedures throughout the bank
• B. Revisions to procedures should be based on compliance expertise and not mere editing
• C. Providing solutions to mitigate any identified risk
• D. Assisting business units in developing or revising policies and procedures to reflect current regulatory requirements

Correct answer: A, B

Explanation

Option A is correct because regulations need to be consistently enforced across all procedures to ensure compliance. Option B, while important, does not address the need for consistent application of regulations, which is critical in compliance programs. Options C and D, though relevant to risk management and policy development, do not specifically relate to the integration of tactical compliance procedures into business line procedures.