"There are many reasons to consider outsourcing the administration of all or a portion of your bank's compliance program, including:
- Ineffective compliance staff
- Sudden turnover in compliance staff
- Ongoing audit or review issues pointing to failures in your existing program
- Offering new products or services
- Engaging in new business activities or acquiring a new business venture
- Expanding geographically
- Cost effectiveness"
Catalyst Response
Catalyst offers administration of a startup or an existing compliance program to serve you on a short- or long-term basis.
Similar to the responsibilities of a compliance officer, our full service compliance solution offers all the elements of an effective compliance solution:
- Performing a comprehensive risk assessment and developing a customized solution
- Establishing and directing the compliance committee
- Developing and implementing a compliance monitoring program
- Performing customized compliance training
- Maintaining the bank’s awareness of the regulatory environment and assisting with the implementation of new and amended regulations
- Participating in new product/service development and recommending appropriate compliance controls
- Reviewing new advertisements and disclosures
- Assisting with regulatory examinations
Benefits
You have the option of outsourcing the effective administration of this program for the entire company or for particular products or business units. We can also assist with strategies for gaining enterprise support for compliance activities.
