Compliance is a team effort.
I learned that our school should have a Compliance Team that has quarterly meetings for the administrative employees.
Though the FAD holds the largest responsibility in overseeing and handling many issues related to FSA, it takes a team composed of many "capable individuals". These individuals should hold regular quarterly meetings to update the team of current issues and offer an opportunity to discuss current policies and procedures. Should policy/procedure revision be needed, the team should address deficiencies and foster compliance regulations to rectify any issues.
The financial officer recommends to the CEO about Compliance Team
Recognizing front-line staff and the importance they play in the interactions with students and prospective students and how they uphold the policy and procedures put in place.
Being team-oriented is going to play a big role in passing compliance regulations. Each person must know their role.
Teamwork is the key in passing compliance regulations. The work cannot be done by just one department or one person. Success can be achieved by conserted effort of everybody within the institution.
It is very important that all Officer that works with students knows the regulations, procedures that impact in all aspect of Financial Aid.
It is so important that everyone knows what there tasks and has a understanding in general how everyone works in this arena.
Front-line administrators have the best grassroots information on how campus procedures and policies are working.
It is extremely important that everyone work as a team to stay in compliance.
My take away from this section is the need to have strong teams, have good communication and ensure that no on department operate in a vacuum.
