A credit union compliance audit is an independent evaluation of how well a credit union is following external and internal laws, regulations and policies. An audit looks at various processes to identify non-compliance risks and recommend improvements to prevent future deficiencies.
It is essential to maintain compliance to avoid penalties, sanctions and fees. Credit unions can be penalized and fined whether or not they know of their deficiencies. Both non-compliance discovered by third parties and by self-reporting can result in significant penalties, so it is essential for credit unions to invest in compliance efforts to help mitigate that risk.
A compliance audit can also enable credit unions to keep up with ever-changing regulations. Discover how Comply-YES! can help your credit union with audits and reviews, and keeps our allies informed of new and amended rules and regulations.
Speak With A Compliance Expert Today!
Comply-YES! understands the complexities of credit union compliance, which is why we offer various expert auditing and review services with bundled pricing to meet every budget.
The Bank Secrecy Act requires financial institutions to assist U.S. government agencies in detecting and preventing money laundering. Our auditing services will help ensure you meet requirements, such as having a compliant BSA/AML program, adequate records of cash purchases of negotiable instruments, filing reports of cash transactions over $10,000, and reporting suspicious activity that might suggest criminal activity.
A comprehensive compliance management system (CMS) will enable your credit union to manage risks and ensure member protection. We’ll audit your CMS and perform a risk assessment to identify any deficiencies and suggest improvements so you can enjoy insights into your system and ongoing compliance.
From reviewing member statements, to new accounts, to remote deposit capture, our deposit compliance audit can help you align with regulations and enhance member satisfaction and protection. Comply-YES! will audit every aspect of your account management and deposit processes to ensure compliance.
Our lending compliance audit will determine if your lending policies, procedures and documentation align with federal regulations. We’ll analyze transactions, determine if requirements were followed, review credit files, ensure proper notices were sent to applicants and more.
Regulatory landscapes can be complex, so we’ll help you navigate them to ensure compliance with your marketing efforts. Our review will look at marketing materials, digital platforms and content to see if they follow regulatory requirements, guidelines, and your branding policies so you can launch campaigns on time and in compliance.
Our review process will assist you in determining if your assets are assigned in effective ways that support your goals and align with your vision. Our review process will consider tangible and intangible resource allocation to determine the best techniques to improve your functionality and goal alignment.
Comply-YES! is here to help you navigate the complexities of compliance and audit requirements so you can focus more on serving your members. Contact our team today to learn how our auditing services can give you a vacation from your compliance worries!
