Better information, better decision: The risk and compliance challenge for financial institutions
Compliance Challenge
description
Transcript of Compliance Challenge
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Compliance Challenge
Group 2
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Before we begin discussing the challenge, we thought it only proper to introduce ourselves.
Meet Group 2
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Meet Group 2
JOHN Brooks
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Meet Group 2
DARYL Verstrea
te
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Meet Group 2
CLIFFORD McFarren & CASSANDRA Gould
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Meet Group 2
JOHNLanci
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Meet Group 2
RICHARDGarvey
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Meet Group 2
RICK Homuth
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Meet Group 2
CHARLIEEllis
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Meet Group 2
DAVIDParliman
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Meet Group 2
BOBStronach
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It all began when post members complained about who’s handling the bell jar…
…namely, Auxiliary and SAL bartenders.
Back to the Challenge…
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Pretty Boy Sal from the Sons of the American Legion likes to volunteer as a bartender.
The Bartenders
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Pretty Boy Sal from the Sons of the American Legion likes to volunteer as a bartender.
The Bartenders
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Pretty Boy Sal from the Sons of the American Legion likes to volunteer as a bartender.
The Bartenders
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Lady Richard from the Auxiliary Unit also likes to volunteer as a bartender.
The Bartenders
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Lady Richard from the Auxiliary Unit also likes to volunteer as a bartender.
She gets more tips than anybody.
The Bartenders
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Lady Richard from the Auxiliary Unit also likes to volunteer as a bartender.
She gets more tips than anybody.
Pretty Boy and Lady also bring a lot of $$$ to the post by selling games of chance.
The Bartenders
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The Complaint
Legionnaires are calm & rational, never pointing fingers !
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The Post Compliance Officer takes her reponsibilities seriously.
Compliance Officer
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The Post Compliance Officer takes her reponsibilities seriously.
She wants to protect the Post and the American Legion.
Compliance Officer
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The Post Compliance Officer takes her reponsibilities seriously.
She wants to protect the Post and the American Legion.
She wants strict compliance !
Compliance Officer
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The Post Compliance Officer takes her reponsibilities seriously.
She wants to protect the Post and the American Legion.
She wants strict compliance !
(By the way, she also has no friends.)
Compliance Officer
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Compliance Officer
YOUWILL
COMPLY!
Resistance is futile !
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The House and Bell Jar chairs think it’s foolish to follow “strict” compliance.
You got to be kidding
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The House and Bell Jar chairs think it’s foolish to follow “strict” compliance.
They’ll lose business… especially to that OTHER legion post known for “liberal” interpretations of compliance.
You got to be kidding
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Bell Jar Chairman
Business is good ! Get lost, compliance officer !
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One member of our group had a quick solution to the dispute…
Solution # 1
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One member of our group had a quick solution to the dispute…
Solution # 1
Close the post and go to that ‘liberal’ post!
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Just kidding !
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Since the compliance officer determines the compliance, and wants it enforced…
Call out the cavalry!
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Since the compliance officer determines the compliance, and wants it enforced…
We’ve got to get the post commander and executive board involved.
Call out the cavalry!
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Since the compliance officer determines the compliance, and wants it enforced…
We’ve got to get the post commander and executive board involved.
How can we resolve this dispute without losing such dedicated appointed officers ?
Call out the cavalry!
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Since the compliance officer determines the compliance, and wants it enforced…
We’ve got to get the post commander and executive board involved.
How can we resolve this dispute without losing such dedicated appointed officers ?
Can this dispute be turned into a positive learning experience ? Even unifying?
Call out the cavalry!
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We assemble the executive board and the affected parties…
Communicate! Communicate!
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We assemble the executive board and the affected parties…
Not to hit people over the head…
Communicate! Communicate!
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We assemble the executive board and the affected parties…
Not to hit people over the head…
But to discuss the issues and the risk management involved.
Communicate! Communicate!
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Communicate!
The meeting begins on a hopeful note.
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Communicate!
The dispute is discussed in a respectful manner… as
legionnaires are always wont to do.
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The executive board does a risk assessment with all the parties…
Communicate !
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The executive board does a risk assessment with all the parties…
If the volunteer bartenders are not on the gaming license, then the post is at risk of:
Communicate !
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The executive board does a risk assessment with all the parties…
If the volunteer bartenders are not on the gaming license, then the post is at risk of:
…being fined.
Communicate !
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The executive board does a risk assessment with all the parties…
If the volunteer bartenders are not on the gaming license, then the post is at risk of:
…being fined. …losing its license.
Communicate !
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The executive board does a risk assessment with all the parties…
If the volunteer bartenders are not on the gaming license, then the post is at risk of:
…being fined. …losing its license. …bad publicity and a black-eye image.
Communicate !
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A decision is reached…for the good of the Legion.
For the good of the Legion
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A decision is reached…for the good of the Legion.
No bartenders without a gaming license will be permitted to handle the Bell Jar.
For the good of the Legion
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A decision is reached…for the good of the Legion.
No bartenders without a gaming license will be permitted to handle the Bell Jar.
The post will advise S.A.L. and the Auxiliary how to get their volunteers on a gaming license.
For the good of the Legion
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For the good of the Legion
Everyone shakes hands … for the good of the Legion.
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The challenge question also wondered what action, if any, should be taken regarding the neighboring post with its “liberal” compliance policy…
For the good of the Legion
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The challenge question also wondered what action, if any, should be taken regarding the neighboring post with its “liberal” compliance policy…
Some thought we should mind our own business and be concerned about our own post…
For the good of the Legion
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The challenge question also wondered what action, if any, should be taken regarding the neighboring post with its “liberal” compliance policy…
Some thought we should mind our own business and be concerned about our own post…
While others recommended that our post commander contact the other post commander to say that he just wanted to give him a heads up that people are talking about his post’s compliance.
For the good of the Legion
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Group 2 wishes to thank the dean and faculty of Legion College for providing a stimulating, educational experience.
Thank you!
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Thank you !
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Leaving you with a smile