Financial Institution Risk Rating by Sector Based on Cole Memo

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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

About Greenflower Membership

As part of the Green Flower and Association of Certified Commercial Cannabis Experts (ACCCE) partnership, university students are provided membership access for 1 year. This will provide member access to the commercial cannabis handbook and the resources. Further, students receive a 50% discount on certification if they register within the next 90 days.

The ACCCE membership is the ultimate resource for risk and compliance professionals in the cannabis industry. By becoming a member, you will gain access to a range of educational resources, networking opportunities, and advocacy initiatives that can help you build a successful career and contribute to the growth of the industry.

As a member, you will have access to a variety of online courses, training programs, and workshops that can help you stay up-to-date on the latest developments in the industry. You will also be able to network with other professionals in the industry, including growers, dispensary, manufacturers, ancillary cannabis businesses, and regulators. This can lead to new business opportunities, partnerships, and collaborations that can benefit both you and the industry as a whole.

In addition, you will be held to a code of ethics that emphasizes professionalism and high standards in the commercial cannabis industry. By upholding these values, you can help build trust and legitimacy in the industry, which can lead to increased public acceptance and more favorable regulatory environments.

Your ACCCE membership provides a comprehensive set of resources that can help you achieve success in the commercial cannabis industry. Whether you are a seasoned professional or just starting out, this membership can help you achieve your goals and contribute to the growth and professionalism of the industry.