Operational Compliance definition
Examples of Operational Compliance in a sentence
All new business processes that will affect consumers or consumer data should be reviewed for UDAAP risk by the Operational Compliance Committee prior to implementation.
The Vice President of Compliance will provide recommendations to remediate any business process that poses risk of consumer harm to management, the Operational Compliance Committee and/or the Compliance Oversight Committee of the Board of Directors.
The results and findings of the Operational Compliance Committee will be escalated to the Compliance Oversight Committee for appropriate remedial action.
Date Reviewed by Description of Update 7/11/2018 Operational Compliance Committee Policy reviewed and approved.
The success of the program will be evaluated according to the performance standards described in Commissioner’s Network Turnaround Plan and in Appendix 1, including Student Performance and Operational Compliance Performance described therein.
The Vice President of Compliance will present consolidated results of the test scores and any root cause analysis results and findings to the Operational Compliance Committee for their review and determination of any necessary corrective action.