Compliance Solutions for Community Banks
Maximize compliance, minimize cost
End-to-end compliance solutions
We never charge a fee to discuss a compliance issue and to provide our advice and consultation. We’re also happy to pass along information we have found, such as research, published news and reports, etc.
Risk assessments are fast becoming a “must have” to get a bank exam-ready, far more important than in years past. For example, BSA and IT compliance requires a periodic, third party. risk assessment.
The first step in satisfactory compliance is a good policy and procedure. We have templates, based on the FDIC/OCC examination handbooks, that we customize for your institution. These customized templates are an affordable way to achieve compliance
The weakest part of a compliance program is often a failure to monitor performance – and to document the ongoing compliance effort. We know how to build affordable technology tools that will provide the no-noise reports management needs to supervise compliance performance.
Training is far, far more than a review of the reg’s technical requirements. Training has two more critical components: (1) making sure that updates and changes to the regulation are communicated and put in force and (2) exposing and then remediating weakness in the current compliance program
Misunderstandings or miscommunications might cause seriously negative examination criticism that will require both an evaluation & written response including a detailed “plan of remediation”.
Effective software can greatly improve compliance and make the process much more efficient. But, there is a dark side: much of the software is very expensive, the initial implementation burden is heavy and the resulting reports may generate far too information that is of little value.
BSA is a hyra-headed regulation that has its tentacles in lots of places inside the bank. Compliance with BSA/AML cuts across areas of responsibility. The compliance burden grows evermore complex.