Policy &
Procedure Reviews
Countless consent orders and enforcement actions list weak policies and procedures as the major cause leading up to a pillar violation. The changing regulatory environment makes it critical to strengthen your current program.
Model Validations
Model Validations
Almost every enforcement action cites the need for strengthening policies and procedures. Arc-Serv has successfully assisted dozens of organizations with customized policies and procedures that pass audit/exam scrutiny.
The current environment stresses a “Culture of Compliance”, and regulators mandate that financial institutions have a solid, strong BSA/AML program in place.
- Weak policies and procedures lead to weak internal controls that subsequently might lead to pillar violations and enforcement actions. It is critical to maintain strong comprehensive policies and detailed procedures.
- Your BSA/AML program needs to evolve as your institution introduces new products and services, modifies existing products and services, and expands through additional subsidiaries, mergers, and acquisitions. New regulations, technology, and industry trends also need to be considered.
- With the rising cost of compliance services – data issues, operational issues, escalating regulatory requirements, and staff turnover – all combine to make a compliance program difficult to execute consistently.
Here at Arc-Serv, we have been in your shoes and have experience writing detailed policies and procedures (NOT COOKIE CUTTER). Our highly-trained subject matter experts will review your current program, make recommendations, and deliver strong, comprehensive results that will please your auditors and examiners.
Arc-Serv: Strategic Solutions for Regulatory Excellence
Arc-Serv offers a range of services to support your BSA, AML, OFAC, and fraud-related projects, including system customization,
training, gap analysis, vendor due diligence, and more. Contact us for your personalized quote.