The Puerto Rico Bankers Association and the Federal Corporation Deposit partnered to offer the 2018 edition of their “Minority Depository Institution Compliance Seminar.”
The event targets compliance officers, banking legal representatives, internal and external auditors, compliance service providers and internal and quality control officers.
It served as a platform to publicize the latest changes and new developments in the world of regulatory compliance, and its impact on the services and operations of financial institutions on the island.
“For the ABPR it is a priority to carry out initiatives to educate different groups that make up the industry on the island; from internal bank staff, to the customer receiving our services,” said Zoimé Álvarez-Rubio, executive vice president of the ABPR, as the local trade group is known in Spanish.
“Having such an important ally as the FDIC to provide this important training is a symbol of the commitment of federal and local banks to promote Puerto Rico’s best practices, always in compliance with the laws and regulations pertaining to our market,” she said.
This two-day training comprised a variety of lectures, workshops and interactive sessions on the outlook for regulatory compliance for 2018, updating information on existing laws and regulations such as the Home Mortgage Disclosure Act, and the Unfair, Deceptive, or Abusive Acts or Practices mandate; effective monitoring programs and regulatory scrutiny; privacy issues and developments in data security and internal risk mitigation; among other topics.
In addition, there were lectures focusing on the training of compliance professionals from the perspective of emotional intelligence for responsible and effective management of their duties.