Compliance “Quick Bite”: Targeting High-Risk Transactions
May 15, 2023
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Our People
- Certified compliance and audit professionals
- Diverse backgrounds and hands-on experience
- CPAs, former bank executives, attorneys and regulators
- No inexperienced or junior staff
- We hire and retain the best staff in the industry!
Our Quality
- Bank Internal Audit is our core business
- Formal QC and Director sign off
- Automated Workflow System
- Continuous education – for clients and staff
- Institution of Internal Audit (IIA) standards
Our Services
- Risk-based/focused on highest priority areas
- Flexible and customizable to meet any need
- Best practices/practical recommendations
- Full outsource with Audit Committee reporting
- Co-sourcing and staff augmentation services
- Agreed upon procedures
Security
- Corporate-wide commitment to Information Security
- Robust systems/controls managed internally
- Secure encrypted email, systems, portals
- Annual training for all employees
- Assistance with vendor due diligence reviews
- Annual SOC 1 Type II Report
- Vendor Management Information Package
The Sheshunoff Difference
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Sheshunoff Consulting + Solutions continues to lead the way in delivering reliable, flexible and highly professional internal audit and risk management consulting services at a reasonable cost. Our Risk Management Division was the first New England internal audit outsourcer with the resources and chief audit executive level expertise to effectively service large community and regional banking institutions with up to $6B in assets.
We pioneered the integrated audit service delivery model to ensure a consistent approach and centralized reporting of all audit results, including technology and compliance. While subject matter experts provide support and guidance for the technical aspects of our Compliance, BSA, Trust and Technology audits, we are still the only firm that assigns a senior level internal audit professional whose sole responsibility is to manage and coordinate a full-service relationship and ensure your satisfaction with our delivery each and every day.
SC+S team of Risk Management experts are all senior professionals with real-world experience and a high level of expertise. We have the proven infrastructure and low staff turnover to deliver consistently reliable internal audit and compliance services to 80-100 financial institutions of all sizes every year. We also routinely scale our offerings to meet the needs of smaller banks and credit unions with a friendly, innovative, and collaborative hands-on approach that delivers tangible results.
Our Services
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Internal Audit (Outsource and Co-Source)
Our full array of professionally delivered and customizable audits can be adjusted to fit any size financial institution, any risk profile and any budget. We can also do your BIC Audits, ACH Rules/Self-Audits, and SOX/FDICIA testing.
Consumer Regulatory Compliance Audit and Review Services
Former regulators, attorneys and bankers provide accurate and reliable compliance monitoring and audit services to strengthen your CMS and supplement or replace your first, second, or third lines of defense.
Information Technology Audit
Former senior bank technology professionals share practical advice and guidance while delivering professional internal audit services to banks and credit unions of all sizes and risk profiles.
Bank Secrecy Act/Anti-Money Laundering Audit
Our highly regarded and certified BSA audit professionals deliver high quality independent audits and consulting support for banks and credit unions ranging from denovos to over $5B in assets.
BSA/AML Model Validation
Best in class model validation for all BSA/AML systems, with special expertise and experience in Verafin, Patriot Officer, FCRM, BAM, and Yellow Hammer.
BSA/AML Program Consulting and Support Services
Extensive experience helping institutions strengthen/remediate issues with their BSA programs at risk, under regulatory order, or with a sudden loss of management or key staff. Special expertise in MSBs, TPPPs, and CRBs.
Compliance Administration Support and Consulting
Lost your Compliance Officer? Need to supplement staff? Call us for short- or long-term compliance administration support, risk assessments, monitoring program development and implementation, Board and staff training on any topic, fair lending and CRA program development and support.
Compliance Monitoring Programs
Starting with a comprehensive regulatory compliance risk assessment (ours or yours), we design/implement a full monitoring program including business line (first line defense), compliance monitoring (second line defense) and formal audit (third line defense) based on risk.
Online Compliance Consulting
Our niche is combining online compliance tools with the expertise of a live compliance consultant. Whether your institution is looking for an extensive collection of compliance resources or a platform where you can submit questions, we’re here to help you stay on top of ever-changing regulatory requirements.
Trust/Fiduciary Services Audit
Professional Trust audit services by certified professionals (CFIRS). Years of experience with OCC Reg 9 and FDIC audits for small, family owned operations all the way up to more complex, stand-alone institutions with several billion in assets under management.
SOX/FDICIA Consulting and Testing
Designing test plans and implementing independent testing programs on behalf of management. We can also help train your staff on the intricacies of FDICIA compliance and help you update your control assertions each year.
Cybersecurity and Information Security Program Review
Our experienced information security professionals can help you with your information security (GLBA) program and your cybersecurity risk assessment and program design/implementation.
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