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Can I be compliant and operationally 
efficient at the same time?

Tone’ Gibson
Program Manager, 
Compliance Consulting 
Services 
Industry Experience: 25 Years
Experience with Wolters Kluwer Financial Services: 7 Years
Subject Matter Expertise: 
• Former President/CEO of a Credit Union
• Program/Project Management
• Regulatory Compliance
• Compliance Consulting
• Bank Operations
1

1
Pop Quiz #1
What amount of regulatory information do 
you expect to see published by the 
regulators within the next 12 months?
 Significantly less than today
 The same as today
 Significantly more than today

2

Survey Results
2%
14%
Significantly More
45%

Slightly More
Significantly Less
Slightly Less & Same

39%

* Thomson Reuters Cost of Compliance Survey 2012*
3

2
Pop Quiz #2
In an average week, how much of your 
Compliance Team’s  time is spent solely tracking 
and analyzing regulatory developments? 






< 1 hour
1 – 3 hours
4 – 7 hours
7 – 10 hours
10 or >

4

Survey Results
4%
22%
< 1
32%

Results
15%

1 to 3
4 to 7
7 to 10
> 10

27%

*Thomson Reuters Cost of Compliance Survey 2012*
5

3
Pop Quiz #3
In an average week, how much time does 
your Compliance Team spend amending 
policies and procedures to reflect the latest 
regulatory updates?






< 1 hour
1 – 3 hours
4 – 7 hours
7 – 10 hours
10 or >
6

Survey Results
9%
8%

18%

< 1
1 to 3
4 to 7
7 to 10

23%

>10
42%

* Thomson Reuters Cost of Compliance Survey 2012*

7

4
Pop Quiz #4
In an average week, how much time does your 
Compliance Team spend creating and 
amending reports for the board?






< 1 hours
1 – 3 hours
4 – 7 hours
7 – 10 hours
10 or >

8

Survey Results

< 1
9%
8%

1 to 3
27%

4 to 7
7 to 10

21%

>10
35%

* Thomson Reuters Cost of Compliance Survey 2012*
9

5
Consider the average cost to you 
today?
 Regulatory Compliance Officers $55K ‐ $93K
 Former Bank Examiners – $71K ‐ $120K
 Compliance Consultants ‐ $68K ‐ $115K
 Operations Managers ‐ $56K ‐ $95K
 Senior Managers – $69K ‐ $116K

* Simply Hired Salary Builder 2013*
10

I bet you forgot to include……
Front Line Staff
 Loan Officers
 Member Service Representatives
 Tellers

Back Office Staff
 Data Entry Clerks
 Secretaries/Administrative Assistants

Subscriptions, Memberships Fees
Third Party Vendors
11

6
How can we cut the cost of 
compliance?
By introducing you to three methodologies we 
believe will assist you with reducing the cost of 
compliance.  
 Strategic Development
 Process Excellence
 Performance Management 

12

Strategic Development 
When it comes to managing compliance….
 Where are you going?
 How will you know when you get there?
 What is going on around you?
It is not the plan that is important, it’s the planning.
Dr. Grameme Edwards

13

7
Where do you start?
 Establish core team(s)
 Perform Risk Ranking
 Critical 
 Important 
 Relevant 

 Define strategic goals/objectives
 Outline compliance Inputs/Outputs
 Identify “time suckers”
14

Bridge the gap!
Map your program management processes to 
your strategic plan
 Remove duplications
 Apply standardization
 Seek opportunities to automate





Risk Assessment 
Policies, procedures and controls
Complaint management
Board and staff training

15

8
Process Excellence 

16

What is needed? 
Standard Operating Procedures







Process Maps
Process Owners
Process Controls
Process Variation 
Process Metrics
Training/Communication

17

9
Process Maps ‘Visualize’ the 
Process 

18

Process Owners
 Owns the business process long term
 Is named as the individual 
 Responsibility for the long term health and 
continuous improvement 
 Process owners can change over time
19

10
Process Controls
Is a state where processes are predictable and 
repeatable and capable of producing quality
 Inputs control the outputs 





New/Enhanced Regulatory Guidance
Customer Complaints/Feedback
Industry Standards/Best Practices
Competitors

20

What About Process Variation?
Describes how we view process predictability 
and repeatability

11
Process Metrics
 Clear and concise
 What are we tracking and why?

 Track goal(s), benchmark(s) and progress 
 Where are we today AND where do we want to 
be?

 Visualize process performance
 Take everyone on the journey with you

22

Training/Communication
 Standardized
 Effective
 Recurring
 Communicates accountability
 Tracked/Monitored

23

12
24

Why is it important? 
Performance management allows for the 
opportunity to ensure that goals are 
consistently being met in an effective and 
efficient manner. 

25

13
What is Performance 
Management?
Performance management is the systematic 
process of monitoring the results of activities 
and collecting and analyzing performance 
information to track progress toward planning 
results. 

26

Report Cards!!!

27

14
What should you measure?
 People
 How are they performing? 

 Processes
 How efficient are they?

 Procedures
 How effective are they?

 Technology
 Up‐to‐date?
28

How can you measure 
performance?
 Metrics/Dashboards
 Surveys (internal/external)
 Team evaluations 
 Training and continuous improvement 

29

15
Benefits
 Improved management control
 Motivated Workforce
 Visibility to the goals/performance

 Direct Financial Gain
 Preparedness for upcoming exams
 Displays data relationships
 Provides well documented and 
communicated process documentation
30

How to tie it all together? 
Plan
Repair

Track Progress

Prepare Strategic Plan

Correct

Do

Apply Risk Rating

Monitor

Check

Validate 
processes

Act

Implementation
31

16
32

Thank you!
Wolters Kluwer Financial Services is the 
NAFCU Services Preferred Partner for 
Consumer and Member Business Lending & 
Deposit Services. Learn more at 
www.nafcu.org/wolterskluwer. 

17
Appendix
Background
Mendo Lake Credit Union is a community development financial 
institution that serves more than 17,000 members in the California 
communities of Lake and Mendocino counties. Headquartered in the 
city of Ukiah, the credit union manages four full‐service branch 
locations and has an asset value of approximately $122 million.
When Mendo Lake Credit Union began searching for a new vendor to 
help manage its deposit account disclosures, the credit union sought 
an outsourcing partner who would be a “one‐stop shop.” The credit 
union had previously experienced a lot of overlap when using multiple 
vendors, so finding a single provider that offered the “whole package” 
was an important part of streamlining its operations and reducing 
costs. Access to a responsive and knowledgeable customer service 
team as well as a comprehensive compliance warranty also topped 
Mendo Lake Credit Union’s vendor wish list.
34

Appendix
Results
As a result of using Wolters Kluwer Financial Services’ 
Deposit Disclosure Program, the credit union has cut its 
printing costs in half, reduced overhead and eliminated 
scrap waste. Now, the credit union either uses electronic 
documents or prints onsite only what is needed rather than 
keeping boxes of preprinted account information brochures 
on‐hand and then discarding them every time updates are 
needed.
Wolters Kluwer Financial Services’ Deposit Disclosure 
Program not only enables Mendo Lake Credit Union to 
operate more efficiently, but the reduction in resource 
output also has significantly reduced MLCU’s carbon 
footprint, waste and costs.
35

18
Appendix
Best of all, LaBrash knows that the credit union’s 
deposit disclosures and account information brochures 
are always 100 percent compliant, making her job as a 
compliance officer much easier.
“It would be impossible for me to stay on top of new 
compliance requirements and regulation changes 
without the expertise that Wolters Kluwer Financial 
Services provides us,” said LaBrash. “They not only 
keep me up‐to‐date on all compliance matters, but 
their customer service is outstanding. As an 
outsourcing partner, I can honestly say that they have 
exceeded my expectations and have never left me 
wanting something more.”
36

19

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Can I Be Compliant and Efficient?