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September 22, 2021

CBANCers Provide Compliance Insight to Ncontracts Survey

What if a genie approached your compliance officer with one compliance-related wish? Don’t get us wrong, we’re here for all the wishes, but what do you think they’d wish for? Well, we’ve got some answers. 

What if a genie approached your compliance officer with one compliance-related wish? Don’t get us wrong, we’re here for all the wishes, but what do you think they’d wish for? Well, we’ve got some answers. 

Ncontracts, a verified vendor, risk and compliance management organization, surveyed 257 community bank and credit union compliance officers across the nation through our community to discover what they want most from their job, their financial institution and the industry. 

So, what feedback and information did these essential professionals provide that can help financial institutions move forward within the industry? 

While you may think recognition would be at the top of the list, surprisingly it’s not. Only four percent of compliance officers shared that they would like recognition for their work and only five percent want a seat at the strategic planning table. 

According to the Ncontracts survey results, compliance officers want:

  • Everyone within their organization to realize that compliance is a team sport (28 percent)
  • More resources (20 percent)
  • Fewer regulations (20 percent)
  • No more business unit silos (5 percent) 
  • Only four percent want more recognition for doing an awesome job

Along with the survey, Ncontracts created a comprehensive analysis report, including insights and information provided by fellow CBANCers to help continue to move the industry, and mindset of what matters most to compliance officers, forward.  

In celebration of National Compliance Officer Day on September 26, we know the data from Ncontracts survey will continue to pave the way for future compliance growth opportunities for any financial institution. 

It’s no secret that our unique community of over 8,600 verified financial institutions can provide a multitude of capabilities and we are truly thankful to every community member who took the survey to help the industry grow stronger. 

Happy National Compliance Officer Day to all of our compliance CBANCers!

To view Ncontracts full report and blog post, click here.

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