A Web-Based Compliance Management and Tracking Solution
Vol. 4, No. 2
ComplySight Area Focus
ComplySight Webinar Schedule
Closing Comments from Glory
Factor Grading Changes
If you haven’t yet noticed, our Factor Grading screen has been updated!
It now shows the current grade, date and by whom it was graded along with the previous grade, previous date of grade and who graded it last! This enhancement should now provide a more clear and intuitive picture of Factor Grading.
Factor Grade Report
We didn’t stop there! We also made changes to our Factor Grade Report.
As you can see from the screen shot below, we have added filters to the report, including the ability to sort by Area or Item and the ability to sort by status of the Factor. For example, if your credit union wanted to pull a report of all of the ungraded Factors in ComplySight, you would choose the “ungraded” status. The ungraded Factors would then be populated, allowing the credit union to export into an Excel or PDF file.
We also added the access level indicator within the comments. Credit unions reviewing their Factor grade report, will now know at quick glance who made the comments and in what capacity they were serving for their review (L2, L2.5 or L3).
If you want a more detailed explanation on these changes, please listen to our quick, five minute webinar for more details.
File Management System
If you think the Factor Grading enhancements were cool, wait until we release our File Management System.
We’ve heard you loud and clear and know the challenge of currently only being able to upload documents one at a time and only at the Factor level. Wouldn’t it be great if you could upload multiple documents at one time and then assign them to an Area, Item AND/OR a Factor? Well, you only have to wait until the end of the month to find out because this enhancement will be released in April!
Here is a sneak peek:
|ComplySight Area/Item Focus
Area/Item Focus: Security/Elder Financial Exploitation
Elder abuse includes the illegal or improper use of an older adult's funds, property, or assets. Recent studies suggest that financial exploitation is the most common form of elder abuse and that only a small fraction of incidents are reported. Older adults can become targets of financial exploitation by family members, caregivers, scam artists, financial advisers, home repair contractors, fiduciaries (such as agents under power of attorney and guardians), and others. They may be especially vulnerable due to isolation, cognitive decline, physical disability, health problems, and/or the recent loss of a partner, family member, or friend.
Current NCUA guidance states that it is generally acceptable for credit unions to report suspected elder financial abuse to appropriate local, state or federal agencies. The NCUA provided this clarified guidance due to confusion based on the requirements of the Gramm-Leach-Bliley Act and Regulation P.
Examples of elder financial abuse include erratic or unusual banking transactions, or changes in banking patterns:
1) Frequent large withdrawals, including daily maximum currency withdrawals from an ATM;
2) Sudden Non-Sufficient Fund activity;
3) Uncharacteristic nonpayment for services, which may indicate a loss of funds or access to funds;
4) Debit transactions that are inconsistent for the elder;
5) Uncharacteristic attempts to wire large sums of money;
6) Closing of CDs or accounts without regard to penalties;
7) Interactions with members or caregivers;
8) A caregiver or other individual shows excessive interest in the elder's finances or assets, does not allow the elder to speak for himself, or is reluctant to leave the elder's side during conversations;
9) The elder shows an unusual degree of fear or submissiveness toward a caregiver, or expresses a fear of eviction or nursing home placement if money is not given to a caretaker;
10) The credit union is unable to speak directly with the elder, despite repeated attempts to contact him or her;
11) A new caretaker, relative, or friend suddenly begins conducting financial transactions on behalf of the elder without proper documentation;
12) The member moves away from existing relationships and toward new associations with other "friends" or strangers;
13) The elderly individual's financial management changes suddenly, such as through a change of power of attorney to a different family member or a new individual;
14) The elderly member lacks knowledge about his or her financial status, or shows a sudden reluctance to discuss financial matters.
Factor 1 - Allowable Information to Disclose
1) A credit union may disclose nonpublic personal information to comply with federal, state, or local laws, rules and other applicable legal requirements, such as state laws that require reporting by credit unions of suspected abuse. [6802(e)(8)]
2) A credit union may disclose nonpublic personal information to respond to a properly authorized civil, criminal, or regulatory investigation, or subpoena or summons by federal, state, or local authorities or to respond to judicial process or government regulatory authorities having jurisdiction for examination, compliance, or other purposes as authorized by law. [6802(e)(8)]
3) A credit union may disclose nonpublic personal information to protect against or prevent actual or potential fraud, unauthorized transactions, claims, or other liability. [6802(e)(3)(B)]
a. Incidents that result in taking an older adult's funds without actual consent,
b. Incidents of obtaining an older adult's consent to sign over assets through misrepresentation of the intent of the transaction
4) To the extent specifically permitted or required under other provisions of law and in accordance with the Right to Financial Privacy Act of 1978, a credit union may disclose nonpublic personal information to law enforcement agencies for an investigation on a matter related to public safety. [6802(e)(5)]
In addition, a credit union may disclose nonpublic personal information with the member's consent or consent of the consumer's legal representative. [6802(e)(2)]
Question: Can you tell me the easiest way for employees to find a list of their individual assignments? Everyone is asking me how to find what their assignments are, once they log in. What is the quickest way for each employee to do that? They do have the assignment emails they were sent, but they don't want to have to keep referring back to email. We are all pretty new to ComplySight, so any help you can give will be appreciated.
Answer: There are a couple of options available to you, depending up on how you have structured your site and user assignments. The first option would be to use either the Action Item Report or the Examiner/Audit Finding Report. Both of these reports allow the user to sort the “Assigned To” column by their name, by clicking on the up or down arrow to the right of the column. These reports can also be downloaded into Excel and then sorted however is most convenient for each user. They could even download it, sort it by user and just pull out their portion.
The second option would be to utilize the L2.5 access level. Depending on how you’ve structured ComplySight and how you’re assigning tasks, you could use the L2.5 user level for your staff, and then assign specific areas to each L2.5 user. That way, when they log in as an L2.5, they would only see the Areas and associated Action Items that were assigned to them. Here is the Dashboard for an L2.5 who is assigned Advertising and Loans:
In the listing of Action Items, only those assigned to this user and those assigned to others, but in those specific Areas (Advertising and Loans) that the L2.5 is assigned, will appear:
To view a Recorded webinar, click on the title of the webinar.
RECORDED WEBINARS - Click on the title of the webinar to listen. (A “safe” download of WebEx may be necessary.) These are available 24/7!
The current recorded webinars provide you with a variety of topics that will get you started on your ComplySight adventure! We plan to record additional “how to webinars” to make them available to you in the near future!
Factor Selection Navigation Screens
To simplify the ability to access Factor Grading screens and Item information, the Factor Selection screens have been redesigned. Check out this short webinar for details!
Access Level 2.5 and How to Use It
Introducing the newest access level, allowing the L1 Administrator to set L2.5 access and then assign specific Areas that only that user may review.
Introduction to ComplySight
Designed to introduce and show the many features and benefits of ComplySight.
Training & Tips – Where to Start?
This webinar will: suggest a starting point as a new ComplySight user, discuss how Factor Grading works, review the Action Item Build/Edit process, and discuss the need for a compliance management tool that regulators - and you - will appreciate.
Training & Tips – How to Export Data
When you need to archive or copy data out of ComplySight for a fresh start or to provide information for a Board meeting, this webinar will explain the process.
Training & Tips – Reg Alerts, Etc.
This webinar explains Regulatory Alerts, Factor Weighting, Assigning Employees, and gives a quick preview of Level 2.5.
Training & Tips – Reports
What reports are in ComplySight and how are they utilized?
Technical questions (software operation issues) can be submitted through the Technical Support form in ComplySight
Compliance related questions can be submitted through the Compliance Questions form in ComplySight.
For other questions: click here
Closing Comments from Glory
As you can see from this newsletter, we sure have a few things blooming in ComplySight!
We have mentioned this before, but most (if not all) of the enhancements that we make to ComplySight are directly related to YOUR feedback! The Factor Grading Screen and the corresponding Factor Grade Report are perfect examples. We received quite a few questions about the previous fields that we had listed on the Factor Grading Screen, so it made sense to make changes that would make the system easier to understand for our users. We also received requests for reports, specifically the ability to pull a report with all of the ungraded Factors and the ability for comments to be identified by user and role. These were great ideas and we are so happy we were able to implement them!
We also believe the File Manager enhancements that we are slated to make this month will be a game-changer for our credit unions. This is another enhancement really geared towards evolving ComplySight to be that all-inclusive comprehensive, compliance system. We want you to be able to maintain all things compliance in one spot – in ComplySight, so we knew we had to make it easier for you in order to do that!
Finally, our next major project will be the development of a Complaint Management portal within ComplySight. We believe, this is another way to set ComplySight apart from any other system on the market and to further evolve the product to be that all-inclusive portal.
We know that regulators are scrutinizing consumer compliance more than they ever have before. We feel confident that you all using ComplySight will knock that compliance exam out of the park and will be able to show the examiners what an effective compliance management system looks like!
As always, thank you for your continued support!
Glory LeDu, CUCE, BSACS, CUERME
ComplySight is a product of League InfoSight, CUNA and your State Association or League.
Check with your League/Association for information regarding availability in your state.