The League readies for launch of new Compliance Specialist
Because of the current regulatory burden plaguing credit unions of
all sizes, The League has set out to provide relief by readying its new
fee-based Compliance Specialist Program, which is ready to launch in
Credit unions interested in taking part in the
program have two options from which to choose, depending on their needs
and what they can afford.
Compliance Specialist Program I. This option is for
credit unions that need an individual who can focus chiefly on
compliance, freeing up other staff to concentrate on their own areas of
expertise. Specialists will generally be contracted to work with pods of
two to four credit unions on an annual basis, working in-house and/or
telecommuting as needs dictate. The cost for the Specialist will be
divided proportionately by the credit unions involved.
Compliance Specialist Program II. This option is
for credit unions that do not need or cannot afford the services of a
Program I Specialist, but do need customized compliance assistance from
time to time. Services will include analyzing new product or program
compliance, implementing new laws and regulations, updating policies and
procedures, training employees, coordinating with examiners and internal
auditors during examinations, working on exam or audit findings, or
attending to items that need immediate attention. Program II services
can be obtained on an ala carte basis, with a set fee for each
The League has already hired three specialists
who will serve as Program I Specialists at credit unions in the
Sheboygan/Two Rivers area, the Wausau/Medford/Northwest Wisconsin area
and the Milwaukee/Southeast Wisconsin beginning in January.
Program II offerings are also available Jan.
1. A description of the offerings and their costs will be available
soon. To discuss a compliance project that your credit union needs now,
Whiting, program director for the Compliance
Specialist Program and League EVP, at (800) 242-0833, Ext.
The League readies for launch of new Compliance Specialist Program