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Federal Reserve BankCompliance Demands Technical Expertise and Pragmatic Solutions

Rules and regulations are getting more complex each year, and financial services firms must be able to keep up with the myriad of existing and changing requirements. CrossCheck Compliance has the expertise to help you navigate the changing regulations and implement practical solutions, allowing you to take control of your compliance responsibilities.

CrossCheck Compliance provides expert, independent compliance services, including:

Compliance Audit Services

By having a comprehensive methodology and trained professionals who understand the regulatory challenges facing financial institutions, CrossCheck Compliance offers a cost-effective approach to its risk-based compliance audit services.

Whether you need an audit of a specific area of compliance (i.e. the new Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) rules) or an audit of your entire compliance program, CrossCheck Compliance can tailor an engagement to meet your specific needs. A comprehensive compliance engagement typically includes a thorough compliance risk assessment, development of a multi-year audit plan, completion of the audit plan, and supplying management with practical, best practice recommendations for weaknesses identified.

Independent compliance audits provide management with unbiased evaluations of compliance with regulatory requirements that can be used to strengthen their organizations’ overall compliance performance and reduce compliance risk.

Compliance Management System (CMS)

Regulators are putting more focus on a financial institution’s Compliance Management System (CMS) than ever before. Banks, credit unions and mortgage originators are expected to have an effective CMS that defines how your organization:

  • Establishes its compliance responsibilities
  • Communicates those responsibilities to employees
  • Ensures that responsibilities for meeting legal requirements and internal policies are incorporated into business processes
  • Reviews operations to ensure responsibilities are carried out and legal requirements are met
  • Takes corrective action and updates tools, systems, and materials as necessary

CrossCheck Compliance can help ensure your organization has implemented a comprehensive CMS commensurate with its size and risk profile.