Certified Regulatory Compliance Manager (CRCM) — Question 91

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?

Answer options

• A. Developing training for tellers who will use the new system
• B. Setting parameters for what the system should review to determine the strength of the customer relationship
• C. Validating the system to ensure it complies with regulatory restrictions
• D. Conducting a cost-benefit analysis to determine if the system is the best solution

Correct answer: C

Explanation

The correct answer is C because the compliance professional's primary responsibility is to ensure that any new system adheres to legal and regulatory standards. While training, parameter setting, and cost analysis are important, they do not directly address the compliance requirements that the system must meet.