I know audit comm's have been an issue in another forum. However, OCC questioned me as to why we don't have a compliance committee. Please share. How many people sit on the committee, who are they and how often do you meet? Can this be all internal employees or must you have a member of the BOD's? They gave no guidance. New examiner this time around. Just my lock.

Look at this thread and this thread

Hello

My bank has a subcommittee on compliance which meets once a month. The committee consists of the President (board member), CFO, lending officer, underwriting officer, branch coordinator, human resource manager, depost operations manager, marketing manager, internal auditor (invited guest), and a consultant. This pretty much covers all areas of the bank as you would want to keep all department heads, etc apprised of current regulatory issues. This group works very effectively and although it is a large group, you can tailor yours according to the size of your bank.

Good luck in your committee appointment.

We have a Compliance Committee (seperate from Audit Committee, Privacy Committee, etc). It is made up of officers and employees. The President/CEO and different department heads including my supervisor sit on the committee. We meet once each month and review compliance audits and responses and a variety of compliance issues.

We had joint Audit Committee/Compliance Committee at the bank I worked for previously. Officers/directors and Outside directors served on that committee.