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Compliance Consulting Services
Keeping abreast of regulatory compliance issues
can be a daunting task. Compliance
covers all areas of your institution’s operations and the regulations are
constantly changing. In order to
ensure ongoing compliance with critical regulations, a regular review and
assessment is a must.
How We Can Help:
Nearman, Maynard, Vallez, CPAs & Consultants
offers a wide range of compliance services, some of which are described below.
To proceed in an organized manner, and given your staff’s time
restraints, we have found it is sometimes easier to break down compliance into
smaller areas. Doing so gives your
staff time to develop a plan to correct any deficiencies found, in addition to
doing their “regular” jobs, before moving on to the next compliance area.
Sample Compliance Areas:
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Bank Secrecy Act Compliance Review
Bank Secrecy Act compliance continues to be at the
forefront of the financial services industry.
Both federal and state examiners have increased scrutiny of your bank
secrecy compliance programs. Examiner
emphasis remains on identifying risk, monitoring programs, and training for both
employees and officials of your organization.
In addition, focus is on ensuring you have an independent
review or audit of your bank secrecy compliance program.
The Federal Financial Institutions Examination Council (FFIEC) published an
examination manual to provide guidance to examiners for carrying out Bank
Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) examinations. The
manual contains an overview of BSA compliance program requirements, BSA risks
and risk management expectations, industry sound practices, and examination
procedures. We use the guidance
provided in the FFIEC’s examination manual, and subsequent information, as
applicable to your institution to help ensure you receive a comprehensive,
independent review that will meet regulatory requirements.
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ACH Audit
The National Automated Clearing House Association
(NACHA) requires any financial institution that originates or receives ACH
transactions to have an annual ACH audit performed by December 1st of each year.
We perform specific procedures in accordance with Appendix 8, "Rule
Compliance Audit Requirements" of the ACH Rules.
In addition, we review other areas pertaining to ACH operations,
including but not limited to a review of specific administrative controls,
internal operating controls points, and a quality assurance program.
The audit programs we use are structured to examine your
institution’s compliance with NACHA requirements!
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Website
Compliance Review
Your website is an advertising medium and as such is subject to various
regulations the same as other marketing methods used by your institution.
The financial regulators consider any page that can be printed from your
website and kept to be an advertisement.
It is critical that every page of your web site be reviewed for compliance with
various advertising regulations, especially as the regulatory environment
changes and delivery mechanisms for products and services evolve.
Our web site compliance review will help ensure you maintain an effective
website compliance program.
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Lending Compliance
Review
Your financial institution may offer a wide
variety of loan products, such as vehicle loans, first and second mortgages,
lines of credit, home equity loans, and credit card loans.
The lending area must address a myriad of regulations, such as
Truth-In-Lending, Real Estate Settlement Procedures Act, Flood Disaster
Protection, the Home Mortgage Disclosure Act, and the Equal Credit Opportunity
Act to name a few! Our review in
this area can encompass all loan products; be limited to specific loan product
groups such as Consumer Loans or Real Estate Loans; or focus on a specific loan
product such as credit cards.
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Freddie Mac/Fannie Mae Compliance
Review
If your institution is a Seller/Servicer of
Freddie Mac/Fannie Mae products, we can assist your institution in
complying with the quality control program requirements to maintain your
eligibility as a Seller/Servicer.
Benefits
of Using Our Firm:
Our Associates have a strong background and
extensive experience working with financial institutions that enable us to
provide cost-effective recommendations and help you focus on critical compliance
areas. We can update your staff on
regulatory changes and provide access to sample policies and information on
other tools you can use as part of your compliance program.
»»Auditing Services
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