What s New at CU*Answers? Records Management

Transcription

1 What s New at CU*Answers? Records Management AN OVERVIEW OF RECORDS MANAGEMENT Marilyn Boyd, Internal Auditor

2 TODAY S AGENDA Brief introduction to Records Management What is it? Why do you need it? Key terms every records manager must know What are the key elements of a compliant records management program? How can I help?

3 What Records WHICH OF THE ITEMS BELOW ARE OFFICIAL RECORDS? 1. Documents or computer files created by an employee before joining the credit union and that were not used subsequently for the credit union s business. 2. A final version of a contract. 3. Official correspondence from a regulator about official business. 4. Diaries, journal and calendars that relate exclusively to personal appointments activities or other personal matters.

4 WHAT IS RECORDS MANAGEMENT? Records Management is concerned with the systematic analysis and control of recorded information which includes all information created, received maintained or used by your Credit Union consistent with its mission, operations and activities. It uses a lifecycle approach to records from their creation until destruction or permanent preservation. In its simplest meaning, Records and Information Management is knowing what information you need to retain, what information you can dispose of, and knowing the difference between the two.

5 WHY DO I NEED A RECORDS MANAGEMENT PROGRAM? 1. Part 749 of the NCUA Rules and Regulations requires all federally insured credit unions to maintain a records preservation program! 2. Ensure prompt and accurate retrieval of records for better decision making 3. Save on storage costs 4. Identify all documents, thereby improving efficiency and productivity 5. Dispose of records in the normal course of business according to RRS 6. Ensure compliance with legal and regulatory requirements and to minimize Litigation Risks 7. Protect Vital Records

6 SOME RIM TERMS YOU SHOULD KNOW OFFICIAL RECORD RECORD SERIES RRS LEGAL HOLDS E-DISCOVERY SPOLIATION

7 WHAT IS A RECORD? Recorded information regardless of medium or characteristics, made or received by an organization in pursuance of legal obligations or in the transaction of business ARMA Glossary To be a record, it must be Authentic, Reliable, have Integrity, and be Usable and Accessible

8 Elements of a RIM Program include: Policy and procedure development Records Inventory, appraisal, retention, and disposition Active files management Inactive files management Preservation Protect Vital records Training and outreach programs WHAT ARE THE ELEMENTS OF A RIM PROGRAM?

9 WHAT RIM WILL DO FOR YOU! A compliant RIM program is necessary for your credit union to proactively and progressively manage all data media and information Ensure prompt and accurate retrieval of records for better decision making Save on storage costs Identify all documents, thereby improving efficiency and productivity Dispose of records in the normal course of business according to RRS Ensure compliance with legal and regulatory requirements and to minimize litigation Risks Protect Vital Records NO MORE EXAMINER WRITE-UPS

10 DREAM TEAM. Marilyn Boyd CU*Answers RIM Services x112 Copies of this presentation are available upon request.