Exam CRCM topic 1 question 94 discussion

As a compliance professional, ensuring regulatory compliance is paramount in any decision-making process. In this scenario, the proposed solution involves purchasing an expensive system to reduce customer complaints about holding deposits. It's crucial for the compliance professional to validate the system to ensure it complies with all relevant regulatory restrictions. While developing training (Option A), setting parameters for the system (Option B), and conducting a cost-benefit analysis (Option D) are important tasks, ensuring regulatory compliance should take precedence. Compliance validation will help mitigate regulatory risks associated with implementing the new system, thereby safeguarding the bank's operations and reputation.