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Incentive Program for Audit/Cmpl/Loan Rvw

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Question: 
Our bank is preparing an Incentive Compensation Program for each of their departments. What types of items should be included in the program for the employees in the Internal Audit/Compliance/Loan Review departments?
Answer: 

I have not heard of incentives for these types positions. Be careful in how you would constuct it. You don't want to incent for quantity, only quality. Incenting on quantity can have a negative effect on quality because some review items may not get enough attention in order to complete the review quickly to qualify under the incentive agreement. I would suggest basing it on new ideas which can improve efficiencies and lower expenses.

First published on BankersOnline.com 8/02/04

First published on 08/02/2004

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