Board Security Reporting and BSA for Board Members Topics at Spring Conference
The NCUA’s 12 CFR Part 748 provides a broad guideline of what a credit union's security program should achieve, yet the information that should be reported to the board to protect the credit union during litigation is very different than what regulators examine to ensure compliance.
At the upcoming MCUL & Affiliates 2017 Spring Leadership Development Conference taking place April 28-30, credit union directors can help avoid a lawsuit against the security officer, management and the board of directors (both jointly and individually) by learning about key aspects of a credit union’s security program and making certain that the report does not miss certain items.
Being held at the Soaring Eagle Casino and Resort in Mount Pleasant, the conference agenda features more than a dozen topics ideal for volunteers and CEOs. "Bank Secrecy Act for Board Members" is also slated and will cover the responsibilities of directors to oversee the important regulatory compliance rule that requires financial institutions to assist U.S. government agencies by keeping certain records of transactions and by reporting suspicious activity that might signify tax evasion or other criminal activities. BSA compliance is a common weakness being identified in credit unions during compliance audits.
The Spring Leadership Development Conference includes quality networking opportunities and new this year is an off site outing for guests to tour the Alden B. Dow home and have lunch at Mountain Town Station. Registration is $399 for the first four attendees; five and more from the same credit union may register for $350 per person. Guests are welcome to purchase tickets for meals and the Saturday evening dinner featuring music and dancing, as well as attend the Friday evening networking reception.
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