Financial Risk Management - Compliance Program Review

Financial institutions must comply with a myriad of requirements that have only grown in complexity in recent years. With fewer resources dedicated to the compliance function, staying on top of these requirements and remaining compliant are key challenges.

We offer a program designed specially to help compliance officers develop and solidify a strong compliance management program. Whether you are just getting started or looking for additional ways to mitigate your risk, there is an offering targeted to your needs.

Benefits:

Demonstrates management commitment to a quality compliance program
Supports stronger regulatory relationships
Establishes internal accountability
Provides additional management tools
Insures future growth is established with strong compliance oversight
Identifies regulatory risks
Increases employee knowledge & awareness

Review Services

Start with a compliance risk analysis and evaluate your policies and procedures as they relate to Fair Lending, anti-predatory lending, BSA/AML, CRA, HMDA and more. Then supplement the review with recommendations for training, technology, best practices, workflow optimization and custom documentation.

Policy and Procedure Review

Accounting for all regulatory requirements in current policies and procedures is the foundation for any solid compliance program. Maintain polices that are up to date, implemented properly, and followed correctly. Our experts will:

Evaluate policies to validate that they reflect current regulations and industry best practices
Identify any risks and recommend new or improved policies

Transactional Testing

Conducting an internal audit is a dependable method to measure adherence to regulatory requirements as well as policies and procedures. Accomplish this critical review independently, without burdening scarce compliance resources. Our experts will:

Evaluate a sample of loans or accounts to ensure they are compliant with regulatory
requirements and conform to bank policies
Identify potential areas of risk through loan level work papers, summary of exceptions and an executive level summary report highlighting scope of review, number of exceptions, reoccurring trends and best practices recommendations

Our compliance program services offering includes three program areas: Consumer compliance, BSA / AML services and Deposit compliance. These are applicable to any financial institution engaged in the origination, selling, purchasing or servicing of loans and deposit activities.

Consumer compliance includes the following regulations: Reg B – Equal Credit Opportunity Act, Reg C – Home Mortgage Disclosure Act, Reg X – RESPA, Reg Z – Truth-in-Lending, Flood Protection Act, PMI – Homeownership Protection Act, ARM Adjustment Audit, Fair Lending Regulations (Fair Housing Act, FCRA), Reg BB – CRA, Reg P – Privacy

Deposit compliance includes: Reg D – Reserve requirements, Reg CC – Availability of funds, Check 21, Reg DD – TISA, Reg E – Electronic funds, Reg O – Loans to Executive Officers, Directors and Reg Q – Demand Deposits

Click here to contact us for more information on our compliance program review services.