Internal controls are extremely important to our company. Kingdom Trust’s Compliance Officer is responsible for knowing and understanding the rules and regulations that govern the operation of Kingdom Trust and insuring that the company’s policies and procedures are within the scope of the same. He also insures that the company’s administrative services agreements, and those of Kingdom Services, meet the requirements of all applicable laws. The compliance officer ensures that all operating departments are working in compliance with the Company’s Policy and Procedures Manual. They also work with the Chief Operating Officer to amend and modify the Policy and Procedures Manual to accommodate changes to governing rules and regulations. The policies and procedures are reviewed in their entirety annually but may be amended more frequently as required.
The compliance team stays abreast of changes to the rules and regulations that govern Kingdom Trust’s business as well as tracks legislation that may impact that business. They work with members of the South Dakota Department of Revenue and Regulation, Division of Banking, and its auditors as the need arises.
Kingdom Trust and Kingdom Service’s General Counsel monitors all claims and complaints against the company and maintains a complaint log. The complaint log tracks each complaint received and documents the steps taken to resolve said complaints. They serve as the company’s primary contact with its outside legal counsel and the company’s insurance carriers.
Reports are prepared and presented to the company’s Board of Directors covering all legal and compliance issues as well as any changes to the company policy requiring board approval. The report is presented quarterly unless circumstances require board input sooner.