"An effective compliance program starts with an evaluation of the compliance risks specific to a bank’s operations and structure."
Catalyst Deliverables
Either as part of our Compliance Administration program or as a special project we will review business operations to identify potential compliance risks and develop and implement appropriate solutions and controls. These services are provided on a company-wide basis or for specific products, services, regulations, or lines of business. For example, some clients have requested assistance with the enterprise-wide application of Bank Secrecy Act/Anti-Money Laundering rules, and others have requested such assistance with respect to selected activities such as Private Banking, Call Centers, or Internet Banking.
We will:
- Evaluate the current compliance function
- Review all existing compliance documentation
- Identify the specific compliance requirements associated with the bank’s products and services
- Evaluate policies and procedures
- Test transactions in selected operating departments
- Interview key personnel
- Ascertain compliance systems and controls
- Review prior examination and audit findings
- Develop a compliance risk profile
Benefit
The assessment results will recommend an effective compliance program and deploy resources to the compliance areas with the greatest risk.
