Banking's Big Compliance Challenge: Staffing

The banking industry is finding it difficult to attract/retain chief compliance officers due to intense regulatory scrutiny and the training needed to prepare for the role.

Good morning, Bank Slaters!

How’s everyone feeling this morning?

Everything is humming along here at The Bank Slate as we head toward summer. I am working on several fun projects for the American Bankers Association and Bank Director — stay tuned for those in the coming weeks.

I also have several great participants lined up for the second season of our Convos podcast. We’ll start rolling those out in early June on Substack, Spotify, and other streaming services.

Let’s talk about chief compliance officers.

This position could very well be the hardest job at banks these days and it is getting even more challenging given the intense scrutiny being paid by regulatory agencies.

In the wake of high-profile bank failures last year, bankers have reported an increase in the number of notices of matters requiring attention (MRAs) from supervisors.

As a result, the position has become very difficult to fill.