Training the Board of Directors

It’s no secret that training is crucial to maintain an effective Compliance Management System (CMS). In fact, it is one of the pillars of your “house of compliance”. Training should include your entire team, including your Board of Directors. The Board is responsible for ensuring your bank’s overall compliance with laws and regulations. They are not the “doers” in your bank. Thus, Board training should be more of a 10,000-foot view. Tell them “what and why” but don’t get into the weeds with all the technical details. For example, your Board needs to know when and why you file Currency Transaction Reports (CTRs), but they don’t know how to complete the CTR form.

David explains more in the video.


Training Library!

Video Highlights:

  • Engage your Board members in the necessary compliance training.
  • If possible, have time at every Board meeting for training and make yourself available to give a quick briefing.
  • Give the Board the "what and why" and look over Board minutes after they have been prepared.

Published
2023/09/28

 
David Dickinson

David Dickinson

David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.

He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.

David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.

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