Financial Services Overview
Bank Compliance
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Financial Services - Bank Compliance

Bank Compliance

In today’s environment of increasing demands for governance and transparency, your bank compliance challenges have never been greater.  In addition to current bank regulations such as Gramm Leach Bliley (GLBA) and Anti-Money Laundering (AML), new regulations stemming from the Dodd-Frank Act are creating new bank compliance challenges, risks and the potential for more overhead.

Although manual processes may have been adequate in the past, the complexity of today’s regulatory environment calls for a cost-effective, comprehensive solution for bank compliance and financial risk management.  The Compliance 360 solution for bank compliance is designed and proven to help address today’s most demanding requirements, including:

  • Regulatory Change Management and Compliance
  • Regulatory Assessments
  • Policy Management
  • Surveys and Attestations
  • Internal Audit
  • Risk Management (Identification, Assessment and Mitigation)
  • IT Governance
  • Controls Testing and Reporting
  • Vendor / 3rd Party Risk Management
  • Loss Event / Incident Management
  • Document Management
  • SOX Compliance

Some of the key challenges addressed by the Compliance 360 solution for bank compliance include:

Regulatory Compliance

With Compliance 360 for bank compliance, you can organize all relevant statutes and regulations (such as those stemming from the Dodd-Frank Act as well as GLBA, AML, Red Flags and others) and link them to the corresponding policies, procedures, assessments and remediation plans to construct your evidence of compliance. With our network of content partners, we keep you abreast of updated laws and regulations. The system helps you manage all facets of bank compliance and audit management within the framework of your overall corporate governance and risk management initiatives. The collaborative tools from Compliance 360 enable proactive demonstration of effective bank compliance, corporate governance and risk management initiatives by automating risk assessments and monitors, management of risk response strategies, links between risk management data and compliance activities, and dashboards that provide a comprehensive view of all risk-related activities. Finance, audit and risk management professionals have the ability to organize and manage projects across the organization, document audit tasks and audit findings, track issues, manage remediation tasks, and record resulting actions. View Demonstration

Bank Exams

With Compliance360, you can ensure that your compliance and risk management initiatives are always ready for bank exams.  In preparation for bank exams, you can assess your organization’s compliance with regulations such as those enforced by FDIC, OTS, OCC, NCUA, SEC and FINRA, and using the Virtual Evidence Room, link all evidence of compliance to each regulation.  The unique Virtual Evidence Room facilitates bank exams, inspections and audits, and ensures that you are always audit-ready with one verifiable version of the truth.

You can also import the bank exam and inspection standards into Compliance 360 allowing your organization to ensure that each area to be covered during bank exams will be fully accountable.  All of the data can be organized by line of business or individual entity and assessment results can be rolled up using the Compliance 360 integrated dashboards to provide an organization-wide view of regulatory compliance.  And, because Compliance 360 is delivered as an online solution, you can facilitate bank exams by optionally allowing the examiners to access a secure, restricted view of the information, right from their computers.  The approach has been used by Compliance 360 customers to streamline audits and bank exams and demonstrate a cooperative, transparent approach, akin to sharing the books with a financial auditor. 

Learn more about preparing for CFPB Compliance Exams
Learn more about preparing for CFPB Consumer Risk Exams

Internal Audit

The Internal Audit software solution from Compliance 360 helps you easily tailor bank compliance and audit processes to fit your unique requirements as you automate critical tasks throughout your audit planning, audit fieldwork, audit reporting and follow-ups.  Additionally, the Internal Audit solution shares a common platform and library of processes, objectives, risks, risk assessments and controls with other Compliance 360 governance, risk management and compliance (GRC) applications.  This integration within a comprehensive, unified set of GRC solutions helps to ensure that your Internal Audit team can work in concert with your bank compliance and risk management groups and fully leverage their assets. View Demonstration  Learn More

Loss Event / Incident Management

Compliance 360 provides comprehensive capabilities for managing loss events and a wide variety of issues such as fraud hotline tips, potential fraud and abuse occurrences, audit findings and legal cases. The system collects, stores, and allows your departmental personnel to collaborate on bank compliance information and track the progress of investigations. All loss event and incident information can be included in reports and graphically represented to demonstrate trends and correlations.  This information supports internal audits, audit committee meetings and board meeting presentations, as well as bank exams and external audits. View Demonstration

SOX Compliance

Complex and cumbersome spreadsheets don’t provide the capabilities needed to manage the data for governance, risk and compliance initiatives. Compliance 360’s SOX solution is an integrated part of the comprehensive compliance platform. With this solution, you can manage internal controls for financial reporting while integrating all aspects of SOX compliance, such as controls monitoring and testing, documentation, risk evaluation and measurement and monitoring with your bank compliance, risk management and enterprise governance strategy.

Learn More

To learn more about demonstrating the effectiveness of your regulatory compliance program to reduce sanction risks and liabilities, please visit the Compliance Effectiveness Resource Center.

To learn how leading financial services organizations are using Compliance 360 to minimize their compliance overhead and risks, and how you can be doing the same, Contact Us today.

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