Job Aid

Commercial Cannabis Business Board Report for Financial Institutions

Commercial Cannabis Business Board Report for Financial Institutions

Financial institution compliance executives can use this resource to assist them with implementing a robust, formally documented commercial cannabis business board report. Use ACCCE’s editable board report template document to provide your board with information specific to your cannabis banking program, including the effect of this client segment on the overall risk profile and suspicious activity reporting, the outcome of any recent audits, and an identification of Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).

This job aid package includes:

  • Commercial Cannabis Business Board Report for Financial Institutions Background document
  • Commercial Cannabis Business Board Report for Financial Institutions Template document
  • High-level board overview PowerPoint slide to include with your board report

This job aid package is intended for:

  • Financial institution executives
  • Financial institution compliance and risk functions
Compliance Risk Assessment Template

Compliance Risk Assessment Template

Commercial cannabis risk professionals can meet their business objectives while reducing risk with this customizable, cost-effective compliance risk assessment template. The editable template and accompanying instructions document will walk you through the steps for documenting your company’s risk appetite, inherent risks, and control environment to arrive at your residual risk rating.

Risk Assessment template covers

    • Risk Appetite
    • Risk Drivers
    • Quality of Controls broken down by the Cannabis Risk Management Framework
    • Examples

This job aid package includes:

  • ACCCE Compliance Risk Assessment Instructions
  • ACCCE Compliance Risk Assessment Template

This job aid package is intended for:

  • Risk managers
  • Compliance officers
  • CEOs
Control Maturity Framework

Control Maturity Framework

Level: Beginner

As part of the risk-based approach, the Risk Officer should be able to identify the control maturity expected by the company. A Control Maturity Framework allows the company to consider its control expectations against its inherent risk to determine the strength of its risk-based quality of controls, giving a more accurate residual risk. It also provides the context for prioritization and depth of management responses to third-party findings. Understanding the control maturity expectation allows the company to apply the proper level of control based on its size and maturity, enhances the residual risk analysis of the risk assessment, and provides context for prioritization and management responses to third-party findings.

For example, ACCCE describes an Incomplete Control Framework this way. The capabilities have been reviewed to manage the risk, but show areas needing improvement or have not been validated for effectiveness.
Minimum requirements:
• Documented management control structure identifying responsibility and ownership

 

This resource is intended for:

  • Cannabis Compliance Managers and Officers
  • Cannabis Risk Managers and Officers
  • Professional Service Providers
  • Regulators
Crisis Management Policy and Objective Template

Crisis Management Policy and Objective Template

Level: Intermediate

There may be an occasion when a commercial cannabis business faces a crisis, whether internal or external, and the business should be prepared to respond with a crisis management program to ensure public safety and business continuity. A crisis is an emergency or adverse act that threatens a commercial cannabis business’s facility, employees, customers, stakeholders, or the industry as a whole.

ACCCE and WJCousins and Associates, an ACCCE Thought Leader alliance member, developed this Crisis Management Policy and Objective Template to help you implement a Crisis Management Program that prepares the business for a potential crisis. This policy and objective template identifies the Company’s intended outcome for a crisis as well as the qualified employee to design and implement the program.

This resource is intended for:

  • Commercial Cannabis Businesses
  • Risk and Compliance Officers
Crisis Management Program

Crisis Management Program

Level: Expert

There may be an occasion when a commercial cannabis business faces a crisis, whether internal or external. The business should be prepared to respond with a crisis management program to ensure public safety and business continuity. A crisis is an emergency or adverse act threatening a commercial cannabis business’s facility, employees, customers, stakeholders, or the industry.

ACCCE and WJCousins and Associates, an ACCCE Thought Leader alliance member, developed this Crisis Management Program to help you implement a Crisis Management Program that prepares the business for many potential crises such as fire, Workplace Violence, and Theft and Fraud.

ACCCE Members can download a sample Crisis Management Policy and Objective for Free: https://accce.org/product/crisis-management-policy-and-objective-template/

This resource is intended for:

  • Commercial Cannabis Businesses
  • Risk and Compliance Officers
Financial Institution Risk Rating by Sector Based on Cole Memo

Financial Institution Risk Rating by Sector Based on Cole Memo

Level: beginner

In the US, many financial institutions use the Cole Memo to advise their understanding of the government’s risk tolerance for cannabis customers. As part of the risk-based approach, the BSA officer should be able to identify how the Cole Memo Priorities map to the risks the financial institution is managing. This mapping demonstrates how a financial institution prioritizes its resources to manage the risk cannabis operators may expose them to based on the Cole Memo. This is a sample mapping of Cole Memo priorities to ACCCE’s five high-risk areas in the commercial cannabis industry by sector.

This resource is intended for:

  • Cannabis Banking BSA, Compliance, or Risk Officers
  • Professional Service Providers
  • Banking Regulators
Risk Program Package

Risk Program Package

ACCCE’s risk program is a great starting place for commercial cannabis businesses with no risk program in place, or for commercial cannabis businesses looking to enhance their current risk program and free to ACCCE members.

Ancillary cannabis businesses can also use this risk program template to assist their commercial cannabis clients in implementing a risk program.

 

Risk Program language includes

  • Policy Statement
  • Roles and Responsibilities for Directors, Directors Risk Committee, Risk Steering Committee, Risk Officer, and employees
  • Risk Assessment
  • Key Control Activities
  • Training
  • Audit

The instructions document and accompanying video will help you understand how to create a commercial cannabis risk program by establishing what each section in the template does for your business, how to modify certain sections to be specific to your business, and how to formalize the program through a corporate approval process.

This risk program package is intended for:

  • Risk officers
  • Compliance officers
  • Compliance managers
  • General Counsel
  • Compliance and risk functions at ancillary cannabis businesses
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