BKD National Financial Services Group’s full-time regulatory compliance consultants can complement your internal compliance staff on an outsourcing basis or periodically update and train your staff on new developments. We offer multiple bank regulatory compliance solutions.
BKD can conduct an independent review of your financial institution's compliance with consumer protection laws and regulations. Our review can complement your internal compliance monitoring system and identify weaknesses or areas that need additional attention. Our compliance audit program may be conducted once a year or may be ongoing; all products and departments are covered on a staggered basis.
In circumstances in which the financial institution does not have an in-house compliance program, virtually the entire compliance program can be outsourced to BKD. Under such an arrangement, our consultants schedule periodic visits to your institution to perform transaction testing and training. We also help develop appropriate compliance policies.
BKD can provide a customized compliance mentoring program, complete with the tools, training and guidance to develop current bank employees into effective and knowledgeable compliance officers.
BKD offers compliance training on numerous regulatory topics. Training can be structured by topic (covering one topic with all employees) or by function (covering various topics with one group of employees). Training programs also can be specifically tailored to your institution through the use of your forms and disclosures.
- BSA/Anti-money Laundering Reviews – Federal regulation requires each financial institution to perform an annual independent review of its compliance with the requirements of the Bank Secrecy Act (BSA). BKD has performed hundreds of BSA reviews and can provide the independence you need and the expertise you desire.
- Fair Lending Assessments – BKD can perform a fair lending assessment based on the Interagency Fair Lending Examination Procedures and alert you to potential risks in your loan process.
- CRA Performance Assessments – Unsatisfactory performance on a Community Reinvestment Act (CRA) evaluation can result in serious limitations, including negative consideration by the regulatory agencies of bank applications. BKD can assess your institution's CRA performance and provide feedback on areas of concern.
Bank of Ann Arbor
“I have found BKD to be very professional, knowledgeable and responsive to our needs. Their guidance has been instrumental to our bank and the benefits of their advice go well beyond the initial loan review process.”
— Tim Marshall, President & Chief Executive Officer
Bank of Ann Arbor
Ann Arbor, Michigan