Last month, we asked which specific areas of compliance you plan to address in 2007. Read what your peers have to say: BSA compliance is still at the top of the list, but other regulations also keep you up at night. This month, we ask how you sell the benefits of online training. Do you tout the cost savings or the ability to standardize your compliance program? We need your best advice.

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As we start another year at our bank, I want to ensure our compliance program addresses our specific risk areas. Not much has changed at our bank or with our customer base, but it’s a good time to revisit the last risk assessment.

As I do that, I want to make sure I consider the big picture. Are there new or changing regulations I should include in my compliance efforts? Should I be concerned about new FFIEC guidance or changes to the Bank Secrecy Act?

What are other institutions doing differently this year?

— Mike Pomato, Compliance Officer

Our bank recently bought three branch offices from another local bank. That means I now have 54 employees at seven branches (in three counties) to keep up to speed on compliance.

In my head, I have the perfect solution. I want to purchase online training. It would free up my time to tend to bigger compliance matters — and ensure consistent training in all branches.

The only problem is: It’s a big expense. Sure, it’s less expensive than other types of training, but I’m nervous about justifying it for our board of directors. We haven’t run into any problems with federal regulators yet. The board might assume we’re doing fine. Why spend money to fix something that isn’t broken?

How have other compliance officers sold their board on the ROI for online training programs? Do you sell the training cost savings or the ability to standardize your compliance training efforts?

— Jessica Kole, Compliance Officer

Can You Help? Share your experience. You could win an Apple iPod™. Congratulations to this quarter's winner, James J. Stackhaus, audit/compliance Officer from First State Bank.