The “Regulatory & Risk Management Indicator,” now in its seventh edition, canvassed 704 professionals from banks, savings and loan institutions, and credit unions in 2019. Two-thirds (67 percent) of respondents were vice presidents, C-level officers, presidents/CEOs, or on the board of directors at their institutions.
This year’s survey generated a Main Indicator Score of 95, a 5 percent increase from the 2018 score. The Main Indicator Score is based on input from survey respondents on compliance and risk management concerns coupled with regulatory data (new U.S. banking regulations, enforcement actions, and levied fines against banks and credit unions) compiled over the past 12 months.
Respondents’ high confidence levels in 2019 are unprecedented in the survey’s seven years of existence.
“These findings suggest a strengthening of lenders’ compliance program management practices,” says Timothy Burniston, senior advisor for regulatory strategy with Wolters Kluwer’s compliance solutions business. “That said, relatively high levels of concern across a range of areas remain, reinforcing the reality that regulatory compliance and risk management issues continue…
