CCI’s experts assist clients with their immediate needs to resolve issues while our long-term focus is to help our clients build sustainable compliance programs. Our team devotes their time to assess our client’s compliance management systems, review disclosures for timing and accuracy, review or write compliance policies and procedures, and assist with various regulatory enforcement matters.
Customizable Services Include:
Financial institutions should have an internal audit system that is appropriate for the size of the institution and the nature and scope of its activities. We offer the independence and objectivity needed with our qualified personnel available to perform adequate testing and review of information systems; documenting tests and findings along with any corrective actions.
To ensure accurate and reliable financial reporting to government agencies, each institution must establish and maintain an external auditing program. We provide management and Board of Directors with an independent and objective view of the reliability of the institutions internal controls. Our focus is on the significant risk areas of an institution to help prepare for regulatory exams.
Policy Development and Review
Compliance policies and procedures are required by all regulatory agencies, and financial institutions are expected to remain current on these regulations and accurately reflect them in their compliance programs. We can evaluate clients’ existing policies for adhering to these regulations and offer our recommendations for improving and streamlining these procedures. We can also assist institutions in preparing full compliance program policies.
Financial institutions rely upon third parties to perform a wide variety of services. We can assist in the managing of activities of third-party relationships and identifying and controlling the risks arising from such relationships.
Liquidity and Contingency Funding Plans
Financial institutions must maintain sound policies and procedures to effectively measure, monitor, and control liquidity risks. Our services are available to establish an appropriate liquidity risk management program for your institution. This includes ensuring adequate resources are available to fund ongoing liquidity needs, establishing a funding structure appropriate with the institutions risks, evaluation of exposures to contingent liquidity events, and confirmation of sufficient resources available to meet contingent liquidity needs.
Review of Past Regulatory Exams
When regulatory criticism or recommendations are received, financial institutions must make their response a priority. We bring experience in helping clients respond to regulatory agencies, ensuring that the plan of action is appropriate, efficient, and effective.
CCI offers training in an extensive variety of topics to keep clients up-to-date on constantly changing compliance rules and regulations that affect day-to-day operations. From in-depth guidance reviewing regulatory audits to clarification on the most commonly difficult compliance areas, we deliver tailored training designed to fit clients’ unique needs.
Phone/Email Consulting (questions answered on demand)
In this ever-changing regulatory environment, our team of professionals continue to stay up to date concerning regulations from all agencies including FDIC (Federal Deposit Insurance Corporation), FRB (Federal Reserve Board), CFPB (Consumer Financial Protection Bureau), and the OCC (Office of the Comptroller of Currency). Once on-boarded with CCI, we are just an email or phone call away with answers to your regulatory compliance questions.
Regulatory requirements have heightened regarding the governance of risk management in financial institutions. CCI offers services to develop an institution specific risk management program able to be embedded into the institutions framework, philosophy and culture.
Board of Director Training
Regulatory enforcement is becoming more and more stringent on the oversight of compliance in community banks by their Board of Directors. CCI provides services to help financial institutions strengthen their compliance programs while involving the Board of Directors along the way through trainings and policies/procedure reviews and approvals.
Depending on the needs of a client, we can conduct reviews to evaluate an institution’s overall compliance program or their specific areas of concern. Regardless of the scope of a review, our consultants conduct a full risk assessment by imitating financial examiners and sampling actual transactions throughout the process, addressing every aspect of the area of concern.
Below are examples of laws and regulations reviewed during a compliance consulting engagement:
- Equal Credit Opportunity Act-Regulation B
- Home Mortgage Disclosure- Regulation C
- Electronic Funds Transfers-Regulation E
- Fair Lending
- Bank Secrecy Act/Anti-Money Laundering
- Truth in Lending Act-Regulation Z
- Truth in Savings Act- Regulation DD
- Real Estate Settlement Procedures Act- Regulation X
- Privacy of Consumer Financial Information-Regulation P
- Fair Housing Act
- FIRA-Regulation O
- Expedited Funds Availability Act- Regulation CC
- NOW Account Eligibility and Money Market Procedures
- Safe and Fair Enforcement for Mortgage Licensing –SAFE Act
- Flood Disaster Protection Act
- Fair Credit Reporting Act/FACT Act- Regulation V
- Unfair Abusive or Deceptive Acts or Practices-Regulation AA
- Community Reinvestment Act