The end of the year is a time when many of us reflect on what happened throughout the year, what we accomplished or did not accomplish. It is also time for social activities that include overeating, eating unhealthy foods, staying out late, etc. So why would I schedule my physical at the end of the year? Mostly it is because one year I put it off until December, and I got into the habit of having my physical in December. As I was waiting in the doctor’s office, I was mentally going through what is on my work to-do list, something you should not do before getting your blood pressure taken!
December is also the time when we are sending out a lot of engagement letters, so I started thinking about how we go about setting up the list of areas we test each year. Some clients have a very formalized risk assessment process; others pick and choose procedures to fit a budget.
So as the nurse was taking my blood pressure and going over various health changes and family history, it hit me. . . I need to think of this as my annual visit to go over my personal health risk assessment, just as I have been advocating compliance risk assessments for years. Conduct a risk assessment for compliance risk, and visit it annually. That way you know what to test in the coming year. So have you taken your financial institution’s pulse and blood pressure and gone over its past compliance tests and results? If not, it will be a great way to start the year.