A Compliance Professional Is a Member of the Task Force

question 405

Multiple Choice

A compliance professional is a member of the task force studying how the bank can reduce customer complaints about holding deposits. One proposed solution involves purchasing an expensive system that will reduce the number of holds placed by evaluating the customer's history and relationship with the bank. Which of the following roles is MOST important for the compliance professional on the task force?

• A) Developing training for tellers who will use the new system
• B) Setting parameters for what the system should review to determine the strength of the customer relationship
• C) Validating the system to ensure it complies with regulatory restrictions
• D) Conducting a cost-benefit analysis to determine if the system is the best solution

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Definitions:

Primogeniture

A legal or social system in which the firstborn child, specifically the eldest son, inherits the family estate or title.

Eldest Son

The firstborn male child in a family, often subject to specific rights, responsibilities, or inheritances in various cultures.

Inheritance

The practice of passing on property, titles, debts, rights, and obligations upon the death of an individual.

Castilian Monarchy

Refers to the monarchy of Castile, a significant kingdom in the Iberian Peninsula that played a central role in the unification of Spain and the Spanish Empire.