Monitoring Compliance Performance

Finding problems before they grow hair.

You’re not required to be perfect. You are required to find and fix compliance weaknesses.

Often, the weakest part of an institution’s compliance is a failure to monitor performance. That’s a problem because failure to monitor leads to compliance failures. That’s not a place we want to go.

We know how to build affordable procedures that provide the “no-noise” monitoring reports management needs to supervise compliance performance.

Compliance Monitoring Solutions that Work

We build tools from simple, Microsoft applications such as Excel and Access; we also build complex solutions that deliver, over the web, secure tools developed in PHP, HTML5 and SQL Server. Whether simple or complex, our solutions work.

If you’d like to see an example of a fancy little compliance monitoring report, see a couple of sample reports below or download them. When you have this kind of monitoring information, two things happen: (1) you can really manage compliance and (2) you have some really impressed examiners.

Based on these trends, where would you want your bank to be focusing your compliance efforts?

Based on these trends, where would you want your bank to be focusing your compliance efforts?

Here are the raw numbers behind the monthly report.

Here are the raw numbers behind the monthly report.

Sound good? Here’s how to get the ball rolling:

  1. Call to discuss your needs and to obtain our Certificate of Non-Disclosure and Privacy Agreement.
  2. If we’re only spit-balling, than skip Step 3. We don’t charge for conferences or to share our experience.
  3. Review our Fee Proposal. If it is acceptable, go to next step. NOTE: depending upon the circumstances, not all information request may be necessary. The rule of thumb: if you’re paying us, we want as much information as possible. If we’re just talking, then less information may be forthcoming.
  4. Provide some information for our discussion session. Some, all or none of the below maybe appropriate.
    • Summarize examination comments (positive and negative) along with examiner recommendations and send those to us. Include in your summary both the written comments as well as any oral communication that took place. NOTE: we may not need to see copies of the actual comments; we can always review with a GoToMeeting session.
    • Gather up your current policy and procedures along with any documents you use to open accounts or perform the work. You can scan and email to our secure portal or fax them to us.
    • Gather your current reports you are using now to manage compliance.
    • Summarize your current monitoring efforts; provide copies of reports used.
  5. We’ll send you a checklist you can use to help us understand the specifics of how you operate this part of the bank and how you are managing the compliance piece.
  6. We’ll send you the “prelim” policy and procedure in a MS WORD format to review and revise.
  7. We’ll schedule a follow-up phone conference to review your changes.
  8. We’ll send the revised Policy and Procedure.
  9. You provide credit card for our billing. (Payment by ACH and/or check is also acceptable.)

I’ve seen their work in more than one bank. They’re well organized and well informed on what it takes to achieve and maintain compliance.

Compliance Auditor