1 Purpose
This policy sets out how the Credit Union meets its obligations in this area, consistent with applicable law and the risk appetite set by the Board of Directors.
2 Scope
Applies to all staff, products and systems in scope, as described in section 4.
3 Roles and responsibilities
The owner named on this document keeps it current. Compliance reviews every change for regulatory applicability before it is submitted to the Board.
4 Requirements
The standards, limits and controls that apply. Each is reviewed on the schedule in section 6 and whenever a regulatory change affects it.
5 Exceptions
Exceptions require written approval from the owner and are logged with the reason and the approver.
6 Review
Reviewed annually, and whenever a regulatory change affects it, by the owner and Compliance.