Bankers Assurance, LLC
PO Box 6039
Sherwood, AR 72124
info
At Bankers Assurance, LLC, we offer a variety of services to assist financial institutions with Consumer Compliance and the Bank Secrecy Act.
Our services allow an institution to have the expertise, along with a comprehensive audit program without the expense of a full-time employee.
At the conclusion of each review, a representative of Bankers Assurance, LLC will meet with management to discuss findings and any recommendations to enhance compliance in the area.
We will also issue a detailed written report to the Audit Committee (or Board of Directors) outlining the scope of the review, exceptions noted, and recommendations for future compliance.
Bankers Assurance, LLC specializes in the following areas:
We will perform a review of the regulations associated with lending compliance, including the following:
We will perform a review of the regulations associated with deposit/operations compliance, including the following:
Truth in Savings Act/Regulation DD
Expedited Funds Availability Act/Regulation CC
Electronic Funds Transfer Act/Regulation E
Interest on Deposit Regulations (Savings/MMDA Monitoring Procedures)
Consumer Privacy/Regulation P
Right to Financial Privacy Act (RFPA)
Advertisements/Office Signage
Unlawful Internet Gambling Act/Regulation GG
Overdraft Program
Unfair and Deceptive Acts and Practices
We will perform an independent test of the bank's compliance with the Bank Secrecy Act (BSA) and Financial Recordkeeping Regulations. This analysis will satisfy the independent testing requirements outlined in the FFIEC Examination Manual. During our review, we will assess compliance with the realted BSA rules including but not limited to the following areas:
Bank Policies and Procedures
BSA/AML/OFAC Risk Assessment
Customer Identification Program (CIP)
Customer Due Diligence (CDD)
Currency Transaction Reporting
Exemptions from CTR Requirements
Accuracy of Reports Used in Detecting Reportable Transactions
Suspicious Activity Monitoring and Reporting
Recordkeeping for Monetary Instruments and Funds Transfers
Money Service Businesses (MSBs)
Currency Shipments
Electronic Banking Activities
ACH Originators
Office of Foreign Asset Control (OFAC)
We will review Fair Lending Related Regulations using a "side-by-side" comparative file analysis, which will be based upon an evaluation of the bank's fair lending policies, procedures and practices.
An "underwriting" or "pricing" analysis will be performed on samples of "target" and "control" group applications and loan originations.
We will assess the bank’s compliance with the SAFE Act by reviewing the bank’s policies and procedures relating to the SAFE Act. We will also evaluate the registration and renewal procedures of the bank, the methods of providing the customer the unique identifier, and the bank’s training program for registered lenders.
We will review compliance with the HMDA by providing an independent assessment of your processes and an audit of the Loan Application Register (LAR) accuracy to ensure compliance with the Regulation.
The analysis will include a sample of LAR items to review the accuracy of the data collection and ensure that the information was entered into the LAR correctly. In addition, we will review the bank's procedures and offer any recommendations to enhance compliance with the HMDA.
We will review the bank's compliance with the lending and service tests as outlined in the Community Reinvestment Act by analyzing the following areas:
We offer reviews to assess the bank’s compliance with the FCRA red flags rules. This will include a review of both the lending and deposit areas. We will also evaluate policies and procedures to ensure compliance with the regulatory requirements.
We offer training sessions tailored to job specific duties (from bank personnel to the Board of Directors) in all areas of compliance, including BSA, Fair Lending, and HMDA.
We also offer a web based training program. Look here for a lsiting of topics as they become available.
Copyright 2020 Bankers Assurance, LLC. All rights reserved.
Bankers Assurance, LLC
PO Box 6039
Sherwood, AR 72124
info