Independent Banker - September 2022 - 9

FROM THE TOP
" Managing compliance is a role
that community bankers take more
seriously than any other segment of
the financial services industry. "
Brad M. Bolton
Chairman, ICBA
Brad M. Bolton is president and
CEO of Community Spirit Bank in
Red Bay, Ala.
n today's intense regulatory
landscape, compliance extends
to every aspect of banking, so much
so that no one person or team can
be solely charged with managing a
bank's compliance requirements.
In fact, compliance has grown to
become a massive responsibility that
must be part of every employee's job.
We're looking at the need for a full
culture of compliance.
But what does it take to get to that
point? It has to start at the top. When
I was new to my CEO position, we
were faced with the retirement of a
seasoned compliance officer, and we
transitioned that role by promoting
a rising leader to the position. This
individual is exceptionally bright,
but we saw the writing on the wall:
Compliance is far more than a silo
within the bank. So, we made a
commitment to her that we would
walk beside her and support her in
her compliance journey. Our senior
I
leadership team took that to heart,
and it stuck with us, creating an
environment in which compliance
plays a significant role in everything
from our strategic direction to our
daily operations.
We didn't realize that we were
creating a shift in our habits, but we
have benefited from that decision. To
this day, I share important regulatory
and compliance articles with relevant
team members, emphasizing hotbutton
issues or key notes along
the way. I hope by exemplifying an
emphasis on compliance, the rest
of the organization recognizes its
importance to our business.
Regulations are there to require
My top three
Compliance
discussions for
every team
1. Reg E/Overdraft Programs
and Representments
2. Fair Lending/Section 1071/
TRID
3. Data/Third-Party
Management/Cyber
Connect with Brad @BradMBolton
what we do every day as community
bankers: protect our customers. That
is probably why managing compliance
is a role that community bankers
take more seriously than any other
segment of the financial services
industry. We know the decisions we
make and the manner in which we
conduct business has an effect on our
customers and communities.
Thankfully, everybody wins when
compliance becomes a bank focal
point. Employees gain a broader
understanding of the " whys " behind
decisions. Customers benefit from
additional protections, disclosures
and support. Regulators win
when a bank's exam is simple and
straightforward when compliance is a
priority. Even shareholders receive an
advantage, because a happy customer
base is a referring customer base.
So, as you read this month's
compliance issue, I hope you'll
consider how to create or enhance
your own culture of compliance.
When you do, you strengthen your
bank and the products and services
you bring to your community. 
independentbanker.org Q 9
Photo by Chris Williams
http://www.independentbanker.org
Independent Banker - September 2022

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