Compliance Services

"A review of any business activity, product or service engaged in or provided by your bank to verify its compliance with applicable regulations. This review will be focused on identifying actual and potential issues and will include recommended remedial actions."

Catalyst Deliverables
As part of our Compliance Administration Program or as a special project, we will review and deliver a written report detailing the strengths, weaknesses, compliance failures and corresponding corrective actions.  The review may be conducted on the basis of your bank’s review procedures, checklists and procedures used by federal bank examiners, or using review-specific procedures.

A compliance monitoring review typically includes:

• Identification and analysis of the business activity, product or service components being reviewed
• A review of relevant documentation, including policies, procedures, disclosures, contracts, and marketing materials
• Interviews with key staff and management involved in conducting or delivering the business activity, product or service
• A review of prior examination or audit reports addressing the business activity, product or service
• A review of existing controls
• Development of a regulatory applicability matrix showing which regulations apply to the business activity, product or service
• Testing, as appropriate, of transactions, procedures and controls

Benefits
An excellent means of identifying potential compliance risk and avoiding the consequences of a compliance failure is to conduct a compliance review by an independent third party unbiased by internal corporate pressures.