Common use of RISK AND COMPLIANCE PROGRAMS Clause in Contracts

RISK AND COMPLIANCE PROGRAMS. 1. The Board shall enhance, implement and maintain an Enterprise Risk Management Program (“ERMP”) to identify, measure, monitor and control risk. The ERMP shall include the requisite policies and procedures to effectively address the company’s activities with specific attention to applicable State and Federal laws and regulations. The ERMP shall also include customary strategic planning as undertaken by management and overseen by the Board and a Compliance Management System (CMS) which complies with all the requirements set forth by the Consumer Financial Protection Bureau.

RISK AND COMPLIANCE PROGRAMS. 1. The Board shall enhance, implement and maintain an Enterprise Risk Management Program (“ERMP”) to identify, measure, monitor and control rol risk. The ERMP shall include the requisite policies and procedures to effectively address the company’s activities with specific attention to applicable State and Federal laws and regulations. The ERMP shall also include customary strategic planning as undertaken by management and overseen by the Board and a Compliance Management System (CMS) which complies with all the requirements set forth by the Consumer Financial Protection Bureau.