Staff training key to mitigating compliance risk
Advantages include reductions of errors and oversights.
Credit union compliance certainly isn’t easy. And because a significant compliance lapse has the potential to shut down a credit union, meeting compliance regulations must be among any shop’s top priorities.
Training internal credit union staff to discern potential risk is one of the primary ways CEOs and boards can mitigate compliance risk. Advantages of a well-trained workforce are clear, including reduction of errors and oversights caused by lack of full understanding of an employee’s responsibilities.
Looking for strategies to increase your credit union’s chances of avoiding compliance issues caused by lack of training? Consider staff certification as a Credit Union Compliance Expert (CUCE). The CUCE designation helps credit union compliance professionals:
- Understand regulations and their implications.
- Stay up to date with the latest compliance regulations.
- Gain confidence to tackle compliance issues.
- Discover resources to keep your credit union compliant.
- Get recognized as experts in their field.
Online training options such as CUNA Regulatory Compliance Certification eSchool: Introduction and Update are a convenient option for staff to learn the latest about compliance risk and earn their CUCE certification.
Remember, your staff can’t recognize potential compliance risk violations if they have not been trained to do so.