Compliance Monitoring & Testing
MT-09Support the sponsor bank’s own monitoring and reviews
Policy reference
Requirement
When the sponsor bank monitors the program itself, through site visits, mystery calls, random sampling, or information requests, the Company cooperates and provides reports, recordings, and records promptly.
Trigger
Event-driven
On each sponsor bank review or request
Action
Name a point of contact, keep the records the bank is entitled to see ready to produce, and log each request and its response.
Evidence
- Bank request log
Request, date received, what was provided, date sent
Owner
Compliance Officer
Leela can
Human required
A person must do the work; Leela can track it and file the evidence.
A person answers the bank; Leela can keep the records ready and log each request.
Applies
Tell Leela about your company to see whether this applies.
Status
Setup needed
Tell Leela how you handle it today, or hand it over: see what’s next.