Financial Services

Regulatory Compliance Services for Financial Institutions

Get more information about our services, submit a request for proposal, or get in touch with a BKD Trusted Advisor™.

Stay in Line with BKD's Detail-Focused Regulatory Compliance Services

Staying current with regulatory changes can be daunting and time-consuming. Demonstrating compliance and having confidence in your internal operations is crucial to your institution's success. Whether you're looking to outsource compliance work or staff training or need assistance with select projects, it's important to work with advisors who understand your industry.

BKD's regulatory compliance consultants can complement your internal compliance staff on an outsourcing basis or periodically update and educate your staff on new developments. Below is a closer look at our regulatory compliance solutions.

Compliance Reviews

BKD can conduct an independent review of your financial institution's compliance with federal lending, deposit, and Bank Secrecy Act laws and regulations. Our reviews can complement your internal compliance monitoring system and identify weaknesses or areas that need additional attention. Our compliance review program may be annual or ongoing.

Compliance Outsourcing

If your financial institution doesn't have an in-house compliance program, parts of the program can be outsourced to BKD. Under such an arrangement, our consultants schedule periodic visits to perform transaction testing and training. We also help develop appropriate compliance policies.

Compliance Consulting

BKD can provide a customized compliance consulting program, complete with the tools, training, and guidance to develop employees into effective and knowledgeable compliance officers.

Compliance Training

BKD offers compliance training on a range of 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 tailored to your institution through the use of your forms and disclosures.

Specialty Reviews

In addition to traditional lending, deposit, and Bank Secrecy Act reviews, BKD offers:

  • Compliance Risk Assessments – BKD can perform an assessment to alert you to potential risks in your compliance program.
  • Fair Lending Reviews and Risk Assessments – BKD can perform a fair lending review based on the CFPB Supervision and Examination Manual and the FFIEC Interagency Fair Lending Examination Procedures and perform a fair lending assessment to alert you to potential risks in your loan process.
  • Unfair, Deceptive, or Abusive Acts or Practices Reviews and Risk Assessments – BKD can assess the UDAAP program and provide observations and recommendations related to the following components:
    • Inventory of products and services
    • Consumer complaints
    • Terms and conditions of higher-risk products and services
    • Internal controls/policies & procedures
    • Employee training
    • New or revised products/services/marketing channels or strategies
    • Marketing materials
    • Compensation plans
    • Third-party arrangements
    • Monitoring of employees and third parties
    • Independent compliance testing
    • Account servicing and collections
    • Software development and testing
  • Compliance Management Systems (CMS) Assessments – BKD can assess the effectiveness of your CMS and provide observations and recommendations related to these components:
    • Board of directors and management oversight
    • Compliance program/policy
    • Consumer complaint management program
    • Independent compliance testing

Third-Party Lending Training

The BKD Conservatory is a suite of risk-based training solutions designed for third-party lending and for those providing lending products on behalf of a financial institution. Learn how our BKD Trusted Advisors™ can help.

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