Employ Independent Internal Audit & Testing Programs

CrossCheck performs Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) audits and risk assessments required by the FFIEC, prudential, and state regulators for institutions every 12-18 months, or when changes to products/services occur.

Review the institution’s operations and compliance with regulatory requirements to ensure responsibilities are carried out, legal requirements met, corrective action taken, and procedure and systems updates are made.

Identify and risk-rate compliance risks and controls for a refined focus.

Establish and incorporate compliance requirements and responsibilities into business processes.

An independent compliance audit will assess whether the CMS is operating as intended and maximizes compliance performance. In addition to a full review of the CMS and regulations applicable to a client’s products and services, CrossCheck performs targeted compliance reviews across key regulatory areas.

Control design and effectiveness and risk management processes are imperative for well-controlled institutions. Review of policies and procedures, key personnel interviews, and testing will determine the completeness and effectiveness of existing controls in mitigating risks inherent in daily execution of activities. Recommendations address root causes to prevent recurrence.

Identification and prioritization of risks allows you to focus on areas most important to meeting your business goals. An objective assessment of the likelihood and impact of financial, operational, and compliance risk and mitigating controls help drive the focal points of your internal audit plan.

CrossCheck performs the MERS® audit (Annual Report) due on December 31 that confirms the member’s processes and controls are in place, ensuring compliance with MERS® requirements. In addition, CrossCheck can also perform loan servicing system data reconciliations to MERS® system data and required quality assurance reviews.

CrossCheck conducts independent fair lending program reviews and audits to evaluate policy effectiveness, governance, and monitoring systems. Our experts assess program design against regulatory expectations, identify control gaps, and provide actionable recommendations to enhance compliance readiness and examiner confidence.

CrossCheck’s fair lending risk assessments evaluate products, policies, and practices to identify potential disparities or gaps in compliance management. We deliver prioritized, actionable findings that help consumer finance lenders proactively address examiner expectations, strengthen oversight, and maintain a fair and inclusive lending environment.

CrossCheck’s fair lending file reviews provide granular insight into pricing, underwriting, and exception practices. We analyze loan-level data and documentation to identify disparities or potential risks, helping institutions validate decision processes and demonstrate fair, consistent treatment of all applicants.

We help institutions establish or strengthen the structure of their AI governance programs. This includes defining accountability, developing policies, creating an AI inventory and risk-classification process, and establishing clear approval and reporting requirements. The result is a framework that the institution’s management and board can understand, apply, and maintain.

CrossCheck evaluates existing AI programs and individual use cases to identify gaps in governance, documentation, controls, and regulatory compliance. Our assessments focus on the risks that matter most to the institution and provide practical, prioritized recommendations for improvement.

Many institutions use AI through vendors, but accountability remains with the institution. CrossCheck helps evaluate vendor governance, available documentation, contractual protections, and monitoring practices so that third-party AI risk is addressed as part of the institution’s broader risk management program.