Services for Financial Institutions
- Internal Audit Outsourcing/Co-sourcing
- Regulatory Compliance Audits
- Bank Secrecy Act/Anti-Money Laundering Audits
- Outsourced Loan Reviews
- Asset Liability Management/ Interest Rate Risk Audits
- ACH Audits; Penetration Testing and Network Vulnerability Scans
- Sarbanes Oxley (SOX) Compliance
- Consulting Services
- De Novo Application Process Assistance
- Development of Policies and Procedures
- Fraud Investigation
- Enterprise-Wide Risk Assessment
- Regulatory Liaison
- Loan Portfolio Stress Testing
- Risk Assessments
- System Conversion Consulting
- Financial Statement Audit
- Director’s Examination
- Supervisory Audits
- SSAE 16 Engagements
- Employee Benefit Plan (401k) Audits
- FFIEC (Federal Financial Institutions Examination Council) Information Technology (IT) Reviews
- Trust Audits
How We Can Assist Current Financial Institutions with Operations, Accounting, and Tax Issues
New Lease Accounting Regulations
These new accounting rules could impact bank loan covenants as they might change the borrowing base for many loans.
How to prepare: Briggs & Veselka is already working with financial institutions and their clients to advise them on the possible implications of these new accounting regulations; the intent is to help them prepare possible revisions to existing covenants, and as guidance for future loan agreements. For more information, contact Terry Sherrill at email@example.com.
Loan Review Efficiency
Many smaller banks and credit unions wish to increase the effectiveness or efficiency of their loan reviews, but are often challenged by the lack of qualified personnel, particularly in smaller markets with a limited labor pool.
How to prepare: Briggs & Veselka offers outsourced loan review process, either on a turnkey or project basis. The work is completed by former bank loan review professionals, resulting in greater efficiency and better internal cost controls. For more information, contact Terry Sherrill at firstname.lastname@example.org.
As regulations requiring credit card issuers and their customers to shift to imbedded chips, there have been increasing operations and liability issues.
How to prepare: Our banking group, in conjunction with our retail and restaurant industry groups, has taken a proactive approach on how to address the operations, IT security, and ancillary issues related to the changeover, designed to be helpful for smaller banks who might lack the IT experience in dealing with these issues. For more information, contact Terry Sherrill at email@example.com.
FDICIA Application Process Assistance
As banks reach the deposit threshold, they must begin the process of adjusting operations and financial reporting requirements to meet stricter standards.
How to prepare: Our integrated team of CPAs specializing in banking, in concert with our Business Advisory Services group, can provide an integrated road map on making the shift, and can offer insights into the possible issues, based on working with other banks who have experienced the changeover. For more information, contact Terry Sherrill at firstname.lastname@example.org.