The State Examination System (SES)
Intended to standardize the myriad of different examination protocols, the SES system functions the same way the NMLS does - as a database to communicate between lenders and the state prudential regulators. The hope was that you could submit a set of documents in one place, at one time, and every other regulator could see those same documents, relieving the compliance burden of multiple document submissions to multi-state licensees.
Unfortunately, that promise has not been fulfilled yet. Currently, we only use the system to communicate bi-laterally with one regulator. Each state has its own nomenclature that doesn't line up with any other state's requirement. The regulators have lined up the SES requirements with their legacy document requests. So, even though 43 states all require the same GLB privacy act policy statement and policy, for example, each state has it coded differently in the system, and if you're in all 50 states, you'll have to upload it 50 times.
Furthermore, the way the system is set up, the regulator has incentive to expand its document request set, because when the state sets it up, it can pull from a template list of requests which are hundreds of items long. We have assisted with requests containing 60 - 120 records, and often these are very redundant, requesting the same items in different context repeatedly.
That's how we can help. Our SES Submission service helps you define what needs to be uploaded, extracts it from your policies and procedures, and our staff can access your SES account to upload that material for you. We screen share your documents, review the items you need to fulfill, and walk you through the upload and submission process, too.
Unfortunately, that promise has not been fulfilled yet. Currently, we only use the system to communicate bi-laterally with one regulator. Each state has its own nomenclature that doesn't line up with any other state's requirement. The regulators have lined up the SES requirements with their legacy document requests. So, even though 43 states all require the same GLB privacy act policy statement and policy, for example, each state has it coded differently in the system, and if you're in all 50 states, you'll have to upload it 50 times.
Furthermore, the way the system is set up, the regulator has incentive to expand its document request set, because when the state sets it up, it can pull from a template list of requests which are hundreds of items long. We have assisted with requests containing 60 - 120 records, and often these are very redundant, requesting the same items in different context repeatedly.
That's how we can help. Our SES Submission service helps you define what needs to be uploaded, extracts it from your policies and procedures, and our staff can access your SES account to upload that material for you. We screen share your documents, review the items you need to fulfill, and walk you through the upload and submission process, too.
