After death and taxes, one of life’s few absolutes facing all financial institutions, including credit unions, is the need for compliance management. The best way to foster an effective and proactive approach is to create a strong compliance culture, according to the experts at Continuity, a New Haven, Conn.-based provider of automated compliance solutions.

But fostering the right environment is no longer simply a goal for which credit unions should strive. Increasingly, examiners expect and demand an effective compliance culture to better cope with the swirling storm of new regulations, wrote Continuity in its latest white paper, How to Create a Strong Compliance Culture.

“Community [financial institutions] must demonstrate a ‘culture of compliance’ that enables agile and effective responses to regulatory change,” the study’s authors wrote. “Examiners are taking a closer look at the behavioral factors that increase this responsiveness, and how they are supported and reinforced by management.”

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