Regulatory Compliance
Our Regulatory Compliance Services have been specifically designed to fill the manpower gap for community banks.
In many cases, community banks do not have the required resources to stay current on extensive, constantly changing regulations. These new developments require the training of bank personnel and monitoring to ensure that regulations are being followed by all employees. This is a role our compliance experts excel. We design our services to fit your specific needs. The services we provide to community banks range from telephone consultations on specific issues to training and sampling and testing procedures similar to those performed during regulatory examinations.
Regulatory Compliance Reviews
Our compliance reviews simulate those performed by regulatory agencies. The sampling and testing procedures are based on the interagency examination procedures. Also included are consultations and training on new product disclosures, lending, deposits and Internet-focused practices. Our training program empasizes best practices for internal compliance officers and other staff members. Additionally, we provide guidance during the review process on your bank's policies and procedures to help ensure compliance. Modifications to the procedures may be made according to the types of services and products offered.
Automated Clearing House Reviews
We conduct an annual review of your bank's procedures and recordkeeping as required under the National Automated Clearing House Association rules.
Bank Secrecy Act
Using the most recent Interagency BSA Examination Manual, our BSA examination includes a review of your bank's Bank Secrecy Act/Anti-Money Laundering policies and procedures, and a review of your risk assessment for reasonableness given your risk profile. We provide comments and recommendations regarding the effectiveness of your BSA/AML program and conduct transactional testing on high risk areas. We also identify high risk accounts and services. We evaluate your management team's efforts to resolve violations and deficiencies noted in previous audits and, following the Department of the Treasury's Financial Recordkeeping and Reporting of Currency guidelines, we check for monitoring and reporting of large cash transactions.
