- Format:Webinar
- Education Type:BCU Webinars
- Line of Authority:N/A
- Language:N/A
- Credit Hours:N/A
Retention and management of records is more complicated than just deciding what to keep and for how long. In what form should records be kept (meaning can we retain records electronically or is paper required)? Should we keep more than what the regulations require? If so, what and why? What about possible litigation needs?
It’s always important to keep in mind that if records are kept (even if they don’t need to be), they are subject to being produced in any litigation. Examiner expectations must be met, of course, but other parties, such as law enforcement, auditors, and of course your customers, may require access to information, as well.
To manage an effective program in a cost-effective manner, compliance professionals must rely on information from a broad range of resources within the organization. Records management is the point of convergence of these resources, which is why effective and reliable records management must be part of your compliance program.
As well, we’ll provide the latest version of the Records Retention Quick Notes, a comprehensive and easy-to-read guide on federal retention requirements that apply to most institutions.
What You'll Learn
- What types of information constitute a record that we should retain?
- What should we keep and for how long?
- Can we retain records electronically, or must they be in hard copy?
- Where can I look for retention requirements?
- Are there best practices we can follow?
- How can I set up or enhance our institution’s records management program?
- What are the risks involved in records retention?
- What should an effective and comprehensive program look like?
- How should the program be organized? What is a taxonomy hierarchy, for instance?
- Litigation needs: How does this process factor in?
- Destruction of records and information: When and how should this be done?
