Helping Our Clients Meet Their Financial, Risk, Regulatory and Compliance Requirements
The Importance of Compliance in Financial Services: Protecting Your Business and Clients
In a highly dynamic world of regulatory compliance, clients must rely on industry-leading knowledge and proven experience to ensure outcomes through a risk-based approach focused on regulatory standards and best practices.
For decades, we have enabled our financial services clients to fulfill their complex compliance requirements. Frequent updates challenge businesses to have the needed technical knowledge and expertise to overcome emerging regulatory challenges. Our professional approach to modern issues, with a focus on the success of our clients, adds value every step of the way.
By leveraging our knowledge of state and federal regulatory agencies, as well as experience from our vast client base, we provide value and insights to critical business risk and compliance functions so that clients can confidently meet their compliance obligations.
Our Financial Services Compliance Offerings
- Internal Audit Co-Sourcing & Outsourcing
- Enterprise Risk Management
- Operational and Business Resilience
- Regulatory compliance audits
- Compliance consulting/program administration
- Risk Assessments
- Regulatory remediation and validation
- Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) compliance and lookback reviews
- BSA & AML model validation and optimization services
- Due diligence for mergers and acquisitions
- Consumer Financial Protection Bureau (CFPB) evaluation and readiness
- Technical Accounting Advisory
- Business Continuity & Disaster Recovery
What is the Importance of Compliance in Financial Services?
As the number and intricacy of technologies and regulations grow and earnings pressure increases, it’s vital for companies to evaluate the effectiveness of their risk mitigation programs regularly. Properly established and comprehensively maintained programs can help you control compliance-related expenses, avoid costly remediation activities, and mitigate operational, strategic, and reputational risks.
Our dedicated team’s industry-specific experience with the financial services and bank sector positions Cherry Bekaert to deliver unique internal audit, risk management, and advisory solutions to meet the unique needs of our clients.
Bank Regulations & Compliance Services
Financial services compliance areas of focus include:
- Banking Regulations
Lending, deposit, and other consumer regulatory compliance
- Compliance Program Administration
Start risk assessments, risk-based compliance monitoring programs, policies and procedure, compliance training, pre-regulatory compliance evaluations, and on-going compliance support
- Financial Crimes
- Bank Secrecy Act (BSA)
- Anti-Money Laundering (AML)
- Office of Foreign Assets Control (OFAC)
- Federal Financial Institutions Examination Council (FFIEC)
- Consumer Financial Protection Bureau (CFPB)
- Specialty Areas
- Community Reinvestment Act (CRA)
- Home Mortgage Disclosures Act (HMDA)
- Fair Lending Compliance
- Unfair, Deceptive, or Abusive Acts and Practices (UDAAP) Compliance
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