When it comes to your Section 1071 implementation plan, it’s crucial that you don’t forget about your Management and Board. While they might not be in on the ground level sifting through the requirements and figuring out how you are going to comply, they do need to have a general awareness of not only the requirements but what it’s going to take to get you to full compliance. Give them a 10,000-foot view and keep it simple. Depending on your institution’s size and the makeup of your Board, will likely dictate where you go from there as some Boards will want to be more involved than others.
Jerod explains more in the video.
Published
2024/04/12