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No portion of ConclusionsOnline may be reprinted without
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The information contained in this publication is compiled from
sources believed to be reliable, but the accuracy, timeliness, and
completeness of the information is not guaranteed.
Some articles contained herein are summaries only and, to ensure
compliance, the subject should be reviewed in its entirety with the
assistance of a regulatory compliance expert, i.e., a Certified
Regulatory Compliance Manager (CRCM)*
or an attorney.
It is delivered with the understanding that the publisher is not
engaged in rendering legal or accounting services. If legal or
accounting advice, or other expert assistance, is required, the
services of the appropriate professional should be sought.
*A CRCM is a compliance professional
with knowledge in the following areas: credit, deposit, securities,
and safety and soundness regulations; information reporting; and
corporate responsibility.
In order to use the CRCM
credential, an individual must meet the experience, education,
ethics, and examination requirements determined by the Institute
of Certified Bankers (ICB) to be competency
measures for compliance professionals.
1. The individual must have a
minimum of three years of experience as a compliance manager with primary
responsibility for compliance functions such as performing
compliance reviews, and applying federal, state, and local financial institution
laws. In addition, the individual must have completed a
minimum of 80 hours of ICB's approved compliance related training within the last five (5) years.
2. The individual must provide
two letters of recommendation from his/her senior officials (i.e.,
CEO, President, Department Head, etc.) attesting to his/her
qualifications for certification.
3. Each candidate must sign ICB's
Code of Ethics statement.
To receive the CRCM designation,
an individual must pass a written exam administered by the ICB.
After receiving the designation, an individual must
complete 60 hours of continuing education every three (3)
years.
More information on ICB and its designations
can be found at http://www.aba.com/ICBCertifications/default.htm.
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