This column is part of a series of articles on the new Consumer Financial Protection Bureau and the upcoming wave of regulations affecting the consumer financial industry.

With all of the changes underway in the regulation of the consumer financial services industry, not to mention all of those that are expected and can be predicted, it will be increasingly important in the post-Dodd-Frank era to keep a sharp focus on one key area of compliance: the board and management. Read the Dodd-Frank Act and the regulations it has spawned. Listen to the regulators from the Consumer Financial Protection Bureau and the other stalwart regulators. One of the hallmarks of the new world order will be accountability.

Who will these regulators look to for ultimate accountability? Without question, it will be the board and management. As outlined below, there are certain behaviors and characteristics boards can demonstrate to minimize compliance risk and several reporting techniques to ensure leadership stays informed about top compliance issues.