Compliance Management System – Governance, Third Parties and Everything Else

This session is designed to provide compliance officers with a clear, practical understanding of how to strengthen their Compliance Management System (CMS) through effective governance, third-party oversight, and anything we haven’t covered up to now.

Participants will learn how these core components work together to ensure regulatory compliance, enhance risk management, and support a strong culture of compliance across the institution.

A well-managed CMS is more than policies and procedures—it requires strong governance, effective oversight of third parties, and a robust complaint management process. These elements are critical to identifying risk, escalating issues, and ensuring accountability at all levels of the organization.

This session explores how to operationalize these components and integrate them into a cohesive, risk-based CMS.

By the end of this training, participants will:

1. Strengthen CMS Governance

• Understand the role of the Board and Senior Management in compliance oversight
• Define clear lines of authority, accountability, and reporting
• Establish effective compliance committees and governance structures
• Develop reporting that drives action and informs decision-making
• Reinforce a strong culture of compliance throughout the organization

2. Enhance Third-Party Risk Management (TPRM)

• Understand regulatory expectations for managing third-party compliance risk
• Identify how third parties expand the institution’s risk footprint
• Learn key components of a compliance-focused TPRM program:
  • Due diligence and risk rating
  • Contract provisions and compliance requirements
  • Ongoing monitoring and performance reviews
  • Issue management and escalation
• Understand how TPRM integrates into the broader CMS and risk assessment process

3. Build an Effective Complaint Management Program

• Recognize complaints as a critical source of risk intelligence
• Define what constitutes a complaint (including regulatory definitions)
• Establish processes for:
  • Intake and tracking
  • Investigation and resolution
  • Root cause analysis
  • Trend analysis and reporting
• Learn how complaint data feeds into:
  • Risk assessments
  • Monitoring and testing
  • Policy and process improvements

4. Expand Your CMS Framework

This session also introduces additional elements that strengthen a mature CMS, including:

• Policy and Procedure Management
• Training and Compliance Awareness Programs
• Issue Management and Corrective Action Tracking
• Regulatory Change Management
• Documentation and Recordkeeping Practices

Participants will leave with:

• A clear understanding of governance structures within a CMS
• Practical strategies for managing third-party compliance risk
• A framework for building or enhancing a complaint management program
• Insight into how these elements connect to the broader CMS and risk-based approach