Introduction to Compliance Management Systems

This title is one of the many courses available in the AllRegs Education Package subscription program!

This course introduces the learner to the concept of Compliance Management Systems, explaining what they are and what they are supposed to do. We cover the various components of a good compliance management system and how they help a mortgage lender manage risk. The course explains the CFPB’s general expectation for lenders to maintain a compliance management system.

What will I learn?

Upon completion of the course, students will be able to:

  • Discuss how a compliance management system supports a risk management strategy
  • Explain the CMS components that work at a strategic level
  • Explain the CMS components that track day-to-day operations

Agenda

CMS and Risk Management Strategy

  • Definition of a CMS
  • Risk Management
  • Tailoring to Each Institution

CMS Components for Strategic Level Operations

  • Board and Senior Management Oversight
  • Designated Compliance Officer
  • Compliance Programs
  • Compliance Audit

CMS Tracking and Monitoring of Day to Day Operations

  • Policies and Procedures
  • Training
  • Monitoring
  • Consumer Complaint Response
  • Third Party (Vendor) Management

Course Length

20-30 minutes (approximate)

How it works

Each self-paced, self-study course examines a particular topic, allowing students to hone in on a focused set of learning concepts. Each course is designed with learning objectives, comprehensive course materials, learning reinforcement activities that appeal to various learning styles, real world examples, and, where appropriate, video and/or audio recordings of industry experts.

The final exam is completed online with instant grading, and you can download your industry-recognized certificate of completion after you successfully pass the course. While course completion time varies per student, it will take approximately one hour to complete most courses.

Students have 12 months from the registration date to complete the course. Upon successful completion of the course, students can download their industry-recognized certificate of completion and transcript.

*Restrictions apply. If your staff size exceeds 250, please consider the Enterprise AllRegs Education Package.