Compliance Services

By partnering with you to identify compliance and process gaps, our compliance staff can recommend solutions, assist in resolving challenges, improve your workflow and mitigate risk. No matter the size of your organization or the complexity of your needs, we deliver a wide variety of compliance services tailored to meet your unique business requirements.

Compliance Review Services

Our compliance review services are designed to help you understand and manage your overall and specific compliance objectives.  Used separately or in combination, this powerful suite of services will assist you in developing a well-run Compliance Management System

• Compliance Risk Assessment
• Compliance Program Review
• Regulatory Training for Staff and Board
• Compliance Examination/Audit Assistance

Compliance Risk Assessment
To start, our compliance team can conduct a Compliance Risk Assessment to help you identify potential hazards. We will work with you to create a risk scoring of your current Compliance Management System and develop a risk based management plan that will assist you in assessing, monitoring and reporting on key compliance risks facing your institution.  Your time is precious; a Compliance Risk Assessment will assist you to focus your valuable resources on applicable systems and controls.

Compliance Program Review
Our Compliance Program Review is designed to help you identify potential gaps in your internal requirements and processes supporting your compliance management program. Each review is tailored to your needs, from comprehensive assessments to single subject reviews; from regular ongoing evaluations to one-time audits; from broad policy reviews to deep-dive transaction testing, or from training program reviews to customer complaint analysis. The review can encompass your entire organization or specific products, services, or lines of business. We will provide an unbiased perspective to assist with identifying potential compliance risks and applying market best practices to avoid the consequences of compliance failure.

Regulatory Training for Staff and Board
No Compliance Management System is complete without a robust training program.  With an active regulatory environment, supplementing your routine training program with specialized staff and board training to address specific regulatory needs is often required.  Our consultants are skilled trainers and presenters who are able to synthesize detailed regulatory and industry knowledge to deliver actionable information to your team either onsite or via webinar.

Examination/Audit Assistance
Our compliance team understands the importance of regulatory examinations. After all, they are former examiners and compliance officers. We will help you prepare for the examination process to reduce the probability of infractions, such as fines and reputational risk. To determine if corrections were implemented, our compliance team will conduct interviews with your staff and review past exams and audits. We will work with you to gather materials and prepare your staff to support the examination process and assist you during the exam with additional research. 

Compliance Research Services

Understanding how regulatory changes affect your business requires time, knowledge and insight. Our experienced compliance professionals provide each of these elements. We can work with you to evaluate the applicable regulations in each jurisdiction, and help determine requirements for expanding into new jurisdictions,  adding new lines of business, or products. Look to our compliance professionals to facilitate and conduct research projects to ensure the results are accurate and complete.

Block of Consulting Hours

A block of consulting hours is a viable solution to augment your organization’s compliance needs. Wolters Kluwer Financial Services compliance team provides answers to federal and state specific compliance questions, leveraging our 50 years of experience providing products and services to financial organizations. Consulting examples include:

• Equal Credit Opportunity
• Home Mortgage Disclosure
• Reserve Requirements for Depository Institutions
• Electronic Fund Transfer
• Disclosure and Reporting of CRA Related Agreements
• Collection of Checks and Other Items by Federal Reserve Banks and Funds Transfers through Fedwire
• Loans to Executive Officers, Directors and Principal Shareholders of Member Banks
• Privacy of Consumer Financial Information
• Prohibition against Payment of Interest on Demand Deposits
• Fair Credit Reporting
• Truth in lending
• Unfair and Deceptive Acts or Practices
• Community Reinvestment
• Availability of Funds and Collection of Checks
• Truth in Savings
• Prohibition of Funding of Unlawful Internet Gambling
• USA Patriot Act
• Homeowners Protection Act
• FDIC Requirements
• NCUA Requirements
• Consumer Disclosures
• Collateral Perfection
• Notice Requirements
• Real Estate Settlement Procedures Act
• Various State Procedural Topics

Document Package Selection

Our Document Package Selection will help you determine if you are missing documents at critical times within the lending process. We will help you apply industry standards based on market best practices to ensure you have the right document package to support new and existing products, or expansion into new jurisdictions.

Document Assessment

Our compliance team will help you review, analyze and compare your organization’s existing document library to Wolters Kluwer Financial Services standard content. The assessment will help you identify documents that can be replaced with WKFS standard content; detect documents with potential compliance concerns; and determine the level of customization required to reproduce the document (if desired).

Compliance Notification Service

Using the same tested and robust monitoring tools and processes that we use for our standard documents, our Compliance Notification Service can provide you with an efficient and cost-effective way to monitor regulatory changes that affect the documents we’ve customized for your institution. We notify you when underlying standard documents have changed and compare the changes to your custom documents. We then provide you the list of the difference; allowing you to evaluate the changes and the rationale for the update, and determine whether you want to implement any changes to your customized forms. Following your review, our team can then implement the changes you want made to meet your business and/or compliance needs. Our helpful Compliance Consulting staff can also work with you to maintain your product line as your business grows and changes.

Document Management Service

Our compliance team can help you manage the documents we’ve customized for your institution and also provide compliance-related services to meet your document management needs;

• Notification of compliance changes that affect your document collection
• Mandatory compliance revisions
• 10 consulting hours provided annually. These consulting hours can be used for a variety of projects as needs arise:
• Conducting legal and compliance research;
• Reviewing and responding to compliance questions;
• Assisting you with detailed document-use questions; and
• Exploring new products, new business programs, or entering into new jurisdictions from a compliance perspective.
• Quarterly Reporting

**If you have a specific need and the services defined above do not address your need please contact your sales representative. We will schedule a consultation call with you to understand your needs and address them accordingly.