Financial Management, Investment Management

BAI Launches BAI Policy Manager to Help Organizations Comply with Regulations

BAI Launches BAI Policy Manager to Help Organizations

BAI, a leading non-profit independent organization serving the financial services industry, has launched BAI Policy Manager to assist financial services organizations in developing, implementing, and monitoring their policies and procedures to ensure compliance with ever-evolving regulatory requirements.

Executives can use the end-to-end solution called BAI Policy Manager, created exclusively for financial services businesses, for developing, modifying, communicating, and tracking company policies and procedures.

BAI Policy Manager has the following features:

  • Regulatory materials tailored as per the respective industry to assist in making rational decisions while developing and upgrading policies
  • Easy setup
  • Focused processes to prepare for the next assessment
  • Effective communication tools to promote a compliance culture

Debbie Bianucci, President and CEO of BAI said, “As part of BAI’s strategic priority to provide valuable education and tools in all facets of regulatory compliance, the BAI team developed this comprehensive solution specifically to meet the unique needs of financial services organizations." She further added, “The BAI Policy Manager will enable financial services leaders to significantly increase their effectiveness in managing all aspects of their organization’s policies.”

(Source – Business Wire)

Christopher Boersma, CRCM, CAMS, CISA, Senior Compliance Expert at BAI, is of the view that financial institutions must have policies and procedures in place in order to remain in compliance with Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), etc.

He stated, "Policies and procedures are key to almost every examination because regulators view them as an important way leadership defines, articulates and communicates expectations; guides desired conduct; protects the organization; and achieves business objectives. Non-compliance can result in monetary fines, adverse actions, limitations on growth opportunities, or other penalties."

(Source – Business Wire)

Nevertheless, managing all regulatory changes and understanding how those changes affect all policies and procedures is difficult but essential for meeting regulatory requirements.

About BAI

BAI, an independent, non-profit organization, has provided the financial services sector for almost a century with the most helpful information, assisting leaders in daily business choices. The company supports more than 2,300 financial services organizations annually with compliance and professional development training, offers specialized events and programs, and conducts in-depth, proprietary research for more than 40 of the top US banks.

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