By Cassandra Giovanni | February 02, 2021 | 4 Minute Read

How Stockman Bank uses Kadince to Streamline Compliance Management

Stockman Bank of Montana is the largest privately-owned bank in the state. With 36 locations and $4.7 billion in assets, the bank has deep community roots. Ensuring compliance with the Community Reinvestment Act (CRA) is vital to their success, though CRA exams in the past had been difficult due to turnover and a lack of a streamlined system for compliance management. With help from Kadince'sCRA Management Software, the Bank achieved a Satisfactory rating during its most recent exam.


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Luckily, in 2016 the marketing department learned of Kadince. The team saw the opportunity to have a compliance management software that was the whole package. Kadince brings together CRA and marketing compliance in a one-stop platform. The use of compliance management software is delegated across the bank. This creates a team effort to ensure compliance and effective community involvement efforts.  

In each of Stockman Bank’s 36 branches, one person enters the volunteer hours for their team members each month. Emma Morrison, Stockman Bank’s CRA/HMDA Officer, then qualifies the hours under CRA guidelines. By logging all hours across the branch system, the bank sees a holistic picture of its efforts. Marketing uses this information for its public relations efforts. The ability to see all community activities allows Stockman Bank to focus its volunteer efforts more effectively. Even better, all the data needed by marketing, compliance, and executive leadership is easily found in one place.

Stockman Bank uses compliance management software to track volunteer hours

 
 

Reduce the stress of exams with Kadince


Government and regulator exams are notoriously stressful. Every CRA officer knows the complexity of the regulations and lack of consistency in the exam process. This means that providing all the information requested can be difficult. “The prior exam was very stressful,” Morrison explains when asked about how Kadince made a difference. "I spent a week making phone calls, emailing people, and searching for documentation. With Kadince, everything was in one place. Not only that, we know it's very accurate."

In its most recent exam, Stockman Bank achieved a Satisfactory score. The bank also managed to impress the examiners by how easy the process was. When asked about Kadince's compliance management software, the examiners commented:

“It was immensely helpful. It’s great that the system allows for different views. This allows for easy analysis of the different CD [community development] activities by year. The system-generated reports are very detailed and easy to read.”

Stockman Bank utilized Kadince’s various access roles to allow the examiners direct access to the system. This meant there was less time spent gathering information and sending it to examiners during the exam. CRA/HMDA Officer Emma Morrison has a few tips for those preparing for a CRA exam. To streamline the process, even more, she says, "Look over the information before presenting it to the examiners. This double-check is easy with Kadince’s compliance management software. It ensures all the qualifying information that examiners need is included." 

Preparing for a CRA exam
 
 

Make CRA compliance easier with Kadince


When asked what her favorite feature is, Morrison says, “Kadince is loaded with features that make entering and reviewing information easier. The automatic geocoding and clone features are some of my favorites. I love that Kadince is easily customizable to Stockman Bank’s needs.” Another helpful hint Morrison shared is to make sure you select the type of value used for investments. Kadince allows you to choose either book or purchased value, and examiners will ask for this information.

"Beyond the software itself, Kadince has amazing customer service," Morrison says. "If there is ever an issue, or I need help with something, the turnaround is very quick. The team at Kadince is easily accessible."

Morrison has one last piece of advice if you’re looking at whether or not to move forward with Kadince’s compliance management software, “Do it! The time savings from not having to upload information manually and being able to give examiners direct access is well worth it.”

Ready to learn how Kadince's Compliance Management Software can help streamline your CRA exam process? Schedule a personalized demo today! 

Cassandra Giovanni | Author and Marketing Professional

Cassandra (Cassie) Giovanni is a passionate storyteller, whether it's the hero's journey in her fiction or crafting unique customer journeys for financial institutions. With more than a decade of experience in banking as front-end employee, assistant branch administrator, and financial marketer, she helps make sure brands are looked at holistically, across all contact points.


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